Egypt’s automotive sales fell by 69% y-o-y in April, passenger car sales down by 70%

Automotive sales continue to decline, falling by 69 percent year-on-year in April, selling 5.1 thousand vehicles compared to April 2022’s recorded 16.6 thousand, revealed the latest data released by the Automotive Marketing Information Council (AMIC).

The AMIC attributed the downtrend to the continued impact of the foreign currency shortage.

Imported passenger car sales were recorded at 6.5 thousand during the first four months of 2023, a fall of 86.7 percent compared to 49.1 thousand sold during the same period in 2022. On a monthly basis, auto sales were down by 23 percent from March’s numbers.