Egypt’s car sales rise by 12.02% YoY in 10 months
Updated 12/10/2024 9:22:00 AM
Arab Finance: Car sales in Egypt increased by 12.02% during the first 10 months of 2024, with total sales reaching approximately 78,400 vehicles, compared to 70,010 in the same period of 2023, according to a report by the Automotive Market Information Council (AMIC).
Passenger car sales were a key driver of this growth, rising by 18% to 62,300 units from 52,800 in the corresponding period last year.
In October alone, passenger car sales amounted to 9,600 units, representing a year-on-year (YoY) increase of 7.3% from 8,900 units.
Truck sales during the first 10 months of 2024 were steady, increasing by just 0.1% to 10,380 units from 10,370 in the same period of 2023.
Conversely, bus sales fell by 15.6%, with 5,600 units sold, compared to 6,700 in the same period last year.
The report also showed that Nissan held the largest market share, accounting for 15.1% of sales, with 11,800 vehicles sold in the first 10 months of the year.
Chery ranked second with a 13.6% share and over 10,600 units sold, followed by Chevrolet in third place with 9,600 sold vehicles, representing 12.3% of the market.
Hyundai and Toyota ranked fourth and fifth, selling 8,900 and 7,900 vehicles, capturing 11.5% and 10.1% of the market, respectively.
Other brands made significant contributions to the market, including MG, which sold 4,900 vehicles, holding a 6.3% market share. This is in addition to BYD, which sold more than 4,000 units, accounting for 5.2% of the market.
Kia recorded sales of 3,100 cars, while Mitsubishi and Renault reported sales of 2,500 and 2,100 vehicles, respectively.
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