Auto sales in Egypt drops 64% YoY in June

Updated 8/1/2023 10:09:00 AM
Auto sales in Egypt drops 64% YoY in June

Arab Finance: Auto sales in Egypt declined in June by 64% year on year, according to data released by Automotive Marketing Information Council (AMIC).

Car distributors sold 6,300 cars last June, down from 17,100 vehicles in June 2022.

On a monthly basis, June’s sales were also down from 7,300 vehicles sold in May when sales spiked after Ramadan.

This drop marks the lowest since February due to the foreign currency crisis faced by the automotive industry.

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