Wednesday, 17 April 2013

Egypt Autos Report Q2 2013

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Egypt Autos Report Q2 2013
Apr 17th 2013, 00:00

Car sales in Egypt rose 43%, to 17,463 units, in January, according to the latest data from the AutomotiveMarketing Information Council (AMIC). Sales of passenger car grew 39% to more than 12,000 vehiclesduring the month. However, the council said that many car producers and distributors are concerned overthe coming period, as well as the whole year, as January sales were affected by the Egyptian currencydevaluation. This came as the dollar increased by more than 10% since December, which resulted in aroundEGP5,000-60,000 (US$750-9,000) price rise for some luxury cars.As the Egyptian pound reaches new lows, forcing up the price of imported vehicles, BMI believes this<...

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