FINANCIAL NEWS

Egypt’s car sales to drop 15 percent in 2015

08 Dec 2015

(MENAFN) Egypt is expected to witness a 15 percent decline in auto sales for the whole 2015 compared to the previous, hitting an overall 279,340 units.

In spite the fall, 2015 sales are still more than the sales reported from 2009 to 2013, let alone the forecast anticipates a 7 percent increase in bus sales.

Moreover, 127,700 locally produced cars are anticipated to be sold versus 144,600 cars in last year, presenting a deterioration of 11.69 percent.

Experts stress that the government must realize the importance of the automotive sector because it provides the treasury with direct custom fees.

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