Egypt automotive gross sales leap 41.5% to 20,800 units in August

Egypt’s overall automotive gross sales in August 2020 noticed a rise of 41.5% calendar year-on-calendar year (y-o-y) and 13.7% month-on-thirty day period (m-o-m), amounting to 20,800 units.

The most up-to-date figures replicate a robust recovery, with revenue probably to be impacted by pent-up need, in addition to favourable funding alternatives for motor vehicle purchases designed obtainable by financial institutions.

Passenger car (Pc) gross sales throughout the exact time period elevated 48% y-o-y, and 27.8% m-o-m, amounting to 15,900 models.

GB Auto’s (Vehicle) full sector share, covering the Hyundai, Mazda, Geely, and Chery makes, stood at 18.5% in August 2020. This mirrored a downturn from the 29.1% it recorded in August 2019, but an improve from the 14.9% in June 2020.

AUTO’s Computer system profits in August declined 6% y-o-y and 58% m-o-m, amounting to 2,900 models. The y-o-y drop was pushed primarily by decreased CBU income (down 21%), while CKD sales greater 19%. The m-o-m decrease resulted from greater CBU product sales of 98%, and advancement in CKD gross sales by 30%.

Naeem Investigation stated that the Hyundai Accent RB achieved product sales volumes of 81 models through the very first month of its start. On MM Group’s (MTIE EY) Computer gross sales, luxurious automobile models Jaguar and Land Rover noticed profits volumes rise 33.3% y-o-y, but continue to be flat m-o-m, amounting to 40 models in August 2020