Motor vehicle gross sales jump 26.6% in 2020, GB Auto documents robust volumes in Q4 of 2020

Egypt recorded a 26.6% calendar year-on-12 months (y-o-y) soar in whole automotive revenue, amounting to 213,200 models in 2020, registering a potent shock restoration.

In the fourth quarter (Q4) of 2020, total automotive gross sales were up 37.4% y-o-y, and 27.4% quarter-on-quarter (q-o-q), standing at 78,900 units.

For December 2020, whole automotive income grew by 26.2% y-o-y, and 4.1% thirty day period-on-thirty day period (m-o-m), amounting to 27,200 units. Passenger car (Personal computer) gross sales greater 32% y-o-y, amounting to 167,800 models in 2020. PCs had been up 32.4% y-o-y, and 49.8% q-o-q, touching 60,200 units in Q4 of 2020.

In December 2020, Computer revenue enhanced 39.3% y-o-y, but were down 1.6% m-o-m to 20,200 models. As for GB Car, the company’s overall industry share, covering Hyundai, Mazda, Geely, and Chery, landed at 17.6% in 2020, and 18.1% in Q4 of 2020. This mirrored a downturn from the 20.5% described in Q4 of 2019 and 18.2% in Q3 of 2020.

GB Auto also described 16.5% in December, a downturn in comparison to the 18.5% of December 2019 and 18.9% in November 2020. GB Auto’s Pc product sales in 2020 ended up up 10.7% y-o-y, recording 29,600 units. This was pushed by advancement in CKDs of 55.7% y-o-y, amounting to 16,600 models, although full built up (CBU) automobiles ended up down by 19.1% y-o-y amounting to 13,000 units.

Irrespective of the drop in marketplace share, GB Auto’s Personal computer volumes in Egypt greater because of to the all round strong recovery in the sector. For Q4 of 2020, GB Auto’s overall Personal computer gross sales strike 10,900 units, expanding by 32.2% y-o-y and 32.7% q-o-q, led by better entirely knocked down (CKD) vehicles’ product sales which surged 67.9% y-o-y and 44.5% q-o-q to 6,400 models. In the course of December, gross sales volume hit 3,300 units, developing by 24.% y-o-y, but down 14.2% m-o-m.

With regards to Computer sales at MM Group, the company’s luxurious automobile models Jaguar and Land Rover noticed CBU gross sales volumes rise by 25.9% y-o-y, amounting to 869 models in 2020.

In Q4 of 2020, volumes were being down by 35.2% y-o-y, but up 10.3% q-o-q, amounting to 171 units. Throughout December 2020, volumes strike 86 units, declining by 14.8% y-o-y, but greater by 83% m-o-m, implying weak profits revenues for MTIE’s automotive phase in Q4 of 2020.