(MENAFN – Daily News Egypt) Egypt’s total automotive sales in August 2020 saw a rise of 41.5% year-on-year (y-o-y) and 13.7% month-on-month (m-o-m), amounting to 20,800 units.
The latest figures reflect a strong recovery, with sales likely to be impacted by pent-up demand, in addition to favourable financing options for car purchases made available by banks.
Passenger car (PC) sales during the same period increased 48% y-o-y, and 27.8% m-o-m, amounting to 15,900 units.
GB Auto’s (AUTO) total market share, covering the Hyundai, Mazda, Geely, and Chery brands, stood at 18.5% in August 2020. This reflected a downturn from the 29.1% it recorded in August 2019, but an increase from the 14.9% in June 2020.
AUTO’s PC sales in August declined 6% y-o-y and 58% m-o-m, amounting to 2,900 units. The y-o-y decline was driven mainly by lower CBU sales (down 21%), while CKD sales increased 19%. The m-o-m decline