Egypt Watch

Car sales in Egypt will decline by 60% in 2022

Car sales in Egypt decreased by more than 60% compared to last year’s period. This comes from the government’s obstruction of the import of cars, in addition to the market’s suffering from a general state of confusion, according to a source in the Automobile Division of the Chamber of Commerce.

According to the Egyptian Automotive Market Information Council, car sales of all kinds in October recorded about nine thousand units, a decline of 65% compared to the same period in 2021.

International companies decided to distribute the shares of Egypt’s agents to other markets following the imposition of import restrictions by the Central Bank in February. Agents had demanded to raise car prices after the Russian invasion of Ukraine.