Cairo - Mubasher: Car sales surged by 32.3% year-on-year in Egypt during the first quarter of 2018 reaching a total of around 35,100 cars, a reported by the Automobile Marketing Information Council (AMIC).
Passenger vehicle sales grew 24% in Q1-18, with imported and locally assembled cars increasing in sales volumes by 21.2% and 40.4%, respectively.
Nissan continues to dominate the biggest market share with 23%, closely followed by Hyundai with 22.1%, then Renault and Chevrolet with 10.1% each, Toyota with 7.3%, Kia with 6%, and Opel with 4.9%.
Meanwhile, truck sales jumped 91% year-on-year during the same period recording 7,440 units.
GB Auto previously has ruled out a decline in car prices next year, despite that tariffs on European cars are set to reach 0%, in line with the Egyptian partnership agreement with the European Union.
However, dealers expect a slight decrease in prices in 2018.
On the other hand, the Egyptian Chamber of Commerce is forecasting a growth in car sales ranging between 10% and 15% this year, as consumers are adjusting to the surge in prices that followed the local currency flotation in November 2016.
