Egypt’s auto sales inch down 1.2% YoY in Q1
Updated 5/1/2024 9:07:00 AM
Arab Finance: Egypt’s automotive sales slipped by 1.2% year on year (YoY) in the first quarter (Q1) of 2024 to nearly 17,800 vehicles, compared to over 18,000 vehicles, Al Borsa News reported, citing a report from the Automotive Market Information Council (AMIC).
Passenger car sales surged by 9% in Q1 2024, hitting around 13,400 cars, versus 12,300 cars in the same period of 2023.
On the other hand, sales of trucks dropped by 18% YoY to 2,800 units, while sales of buses saw a 29.4% YoY decrease, reaching 1,500 units.
In the January-March period, the Nissan brand topped the local market with a market share of 16.2% after the sale of 2,800 vehicles.
Chevrolet came in second place with 2,600 vehicles being sold in Q1 2024, representing a market share of 15%, followed by Toyota with 2,500 vehicles sold and a market share of 14.1%.
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