According to the Egyptian portal MASRAWY on Tuesday, May 2nd, data released by the Egyptian Automotive Market Information Council (AMIC) showed the total sales of the passenger car industry in Egypt in the first quarter of 2023.
During the above period, the Egyptian new car market experienced a sharp decline of over 78%, with sales stopping at 12330 units, compared to 55532 units in the same period of 2022.
By calculating the sales difference between the first quarter of this year and the same period last year, it is clear that sales have decreased by over 43000 vehicles, reflecting the level of difficulty faced by the Egyptian automotive industry.
Nissan in Japan ranks first among best-selling car brands with 3803 cars, with an estimated market share of 30.8%. According to observers and experts, this is mainly due to the car being assembled locally.
China's Chery ranks second with a total sales volume of 2255 vehicles, with a share of 18.3%. BYD ranks third with a sales volume of 1181 vehicles, with a share of 9.6%. Toyota of Japan ranks fourth with 941 vehicles, while Kia of South Korea ranks fifth with 528 vehicles.
In addition, the "AMIC" report indicates that European brands have been the most affected, with sales decreasing by nearly 91% to only 1260 units during the aforementioned period in 2022, compared to 13709 units last year.
Korean brands ranked second, second only to European brands, with sales declining by 89.5% as their sales from early 2023 to the end of March were only 940 units, compared to 8996 units in 2022.
US car sales decreased by 84.5% to a record low of 350 units, compared to 2035 units in the same period of 2022.
As for Chinese brands, they were the least affected among the brands in the Egyptian market, with a 65.7% decrease in sales and a total sales of 4145 vehicles.
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