Egypt’s automotive sales likely to decline by up to 35% end-2024

Updated 7/30/2024 7:23:00 AM
Egypt’s automotive sales likely to decline by up to 35% end-2024

Arab Finance: Egypt’s automotive sales are expected to drop by 25% to 35% year on year (YoY) by the end of 2024 due to the suspension of imports, Head of the Importers Committee at the Automotive Division Amir Hilali told Asharq Business.

Hilali emphasized that failure to address the current import crisis could lead to broader market repercussions, potentially causing general price instability in the near future.

In the first five months of 2024, car sales in Egypt fell by around 2.3% YoY to 29,811 units.

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