{"id":635025,"date":"2018-01-31T04:19:56","date_gmt":"2018-01-31T04:19:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/is-the-car-market-finally-turning-the-corner\/"},"modified":"2018-01-31T04:19:56","modified_gmt":"2018-01-31T04:19:56","slug":"is-the-car-market-finally-turning-the-corner","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/is-the-car-market-finally-turning-the-corner\/","title":{"rendered":"Is the car market finally turning the corner?"},"content":{"rendered":"

<\/a> Is the car market finally turning the corner? <\/strong>A low base effect certainly helped, but: Car sales grew 17.3% y-o-y in December, making it the first month in 2017 in which sales rose substantially, according to a report by the Automotive Information Council (AMIC) report picked up by Al Borsa<\/a>. The year-long slump in the auto industry, which saw passenger car sales decline 30% in FY2017 after the float of the EGP in late 2016, finally slowed in November, which saw a 0.4% increase in sales. Passenger car sales in December grew a sharp 21% y-o-y, with around 11,000 cars sold. Industry leader GB Auto held a 29% market share. By brand, Chevrolet cars topped sales in December with a 22% market share, followed by Hyundai (20%), and Renault (17%). AMIC member Raafat Masrooga said that 2018 should see a continuation of this rebound as the overall macroeconomic climate improves.<\/p>\n","protected":false},"excerpt":{"rendered":"

Is the car market finally turning the corner? A low base effect certainly helped, but: Car sales grew 17.3% y-o-y in December, making it the first month in 2017 in which sales rose substantially, according to a report by the Automotive Information Council (AMIC) report picked up by Al Borsa. The year-long slump in the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-635025","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"026c060f-5c62-4278-9bd8-3472fbb0649f","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[635018],"teaser":"","voice_url":""},"yoast_head":"\nIs the car market finally turning the corner? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/is-the-car-market-finally-turning-the-corner\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is the car market finally turning the corner?\" \/>\n<meta property=\"og:description\" content=\"Is the car market finally turning the corner? A low base effect certainly helped, but: Car sales grew 17.3% y-o-y in December, making it the first month in 2017 in which sales rose substantially, according to a report by the Automotive Information Council (AMIC) report picked up by Al Borsa. 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