Egypt’s auto market June sales surge 18%

Egypt’s automotive market showed signs of recovery in June as the total automotive sales rose 18.4% year-on-year (y-o-y) and 35.4% month-on-month (m-o-m), amounting to 16,430 units.

The surge implies a speedier recovery following the economic hit to the sector due to the novel coronavirus (COVID-19) pandemic during March and April. Passenger car sales were up 10.4% y-o-y, and 38.6% m-o-m, amounting to 11,200 units in June 2020.

This comes despite auto sales in the second quarter (Q2) of 2020 reportedly being declining 3.8% y-o-y, and 35.3% quarter-on-quarter (q-o-q), amounting to 37,400 units.