Egypt automotive profits fall marginally due to seasonality impacts

Egypt’s overall automotive product sales had been down marginally, in February, by .7% yr-on-calendar year (y-o-y) and 2.% thirty day period-on-thirty day period (m-o-m).

The slight downturn was impacted by seasonality, in addition to postponement on the section of the buyers, who are awaiting the new automotive initiative which is expected to kick off in April 2021. 

Egypt’s automotive sector is also experiencing the danger of source chain disruptions thanks to continuing global lockdowns, and a non permanent offer shortage in semi-conductors. 

Passenger car (Laptop) income declined by 1.8% y-o-y, but were being up 9.3% m-o-m, amounting to 16,600 models. 

As for GB Vehicle (Car EY), the company’s complete marketplace share for Hyundai, Mazda, Geely, and Chery versions amounted to 16.1% in February. This mirrored and upturn from 13.5% in February 2020, but down vs . 16.5% in January.

AUTO’s Computer system profits in February enhanced by 17.1% y-o-y and 6.4% m-o-m, amounting to 2,600 models. The y-o-y advancement, was pushed primarily by larger CKD product sales, which were up 39%, though CBU was down 13% y-o-y. 

The m-o-m enhance, was driven by increased CBU income to the extent of 34%, when CKDs declined 3%, implying very good earnings y-o-y for AUTO’s automotive phase in the very first quarter (Q1) of 2021. 

On MM Group’s (MTIE) Personal computer income of the luxury makes Jaguar and Land Rover, sales volumes have been down 42% y-o-y, but increased 20% m-o-m, amounting to 61 units in February