Egypt sees LE30 billion in car sales in 2015

Egypt’s automotive sales declined LE1 billion during the current year compared to 2014, amounting to LE30 billion, the spokesman for the Automotive Marketing Information Council (AMIC) said on Tuesday.

The Egyptian automotive market saw 279,000 cars sold this year, which is below AMIC’s expectations of around 300,000 automobiles, said Khaled Hosni at the Egypt Automotive Summit held in Cairo.

Egypt saw 293,000 cars sold last year.

For his part, Egyptian Minister of Trade and Industry Tarek Kabil said during the summit that his ministry aims to boost the local automotive production to reach one million cars by 2025 versus the current 300,000 per year, according to an emailed statement from the ministry.