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Egypt autos market: Latest market research analysed

London 5/05/2013 09:03 PM GMT (LinkMyStock)

Car sales in Egypt rose 43%, to 17,463 units, in January, according to the latest data from the Automotive Marketing Information Council (AMIC). Sales of passenger car grew 39% to more than 12,000 vehicles during the month. However, the council said that many car producers and distributors are concerned over the coming period, as well as the whole year, as January sales were affected by the Egyptian currency devaluation. This came as the dollar increased by more than 10% since December, which resulted in around EGP5,000-60,000 (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 creates opportunities for small car and budget brands through demand from those consumers still keen to go ahead with purchases. As China's Geely Automobile just completed construction of its plant in late 2012, this could be one brand set to take advantage of the current conditions.

The price of this market report covers 4 quarterly reports on this sector. This quarterly report will be downloadable instantly as a PDF document, with the 3 remaining reports delivered at regular intervals throughout the year.

Click for Report details:Egypt Autos Report Q2 2013

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