Car sales suffer severe drop
Car sales in Egypt have suffered a steep decline following the January 25 Revolution. written by Amr Aref, Mariya Petkova and Passant Rabie.
1 April 2011, 4:44 am
 

Car sales in Egypt have suffered a steep decline following the January 25 Revolution.
According to the latest report by the Automotive Marketing Information Council, total market volume for the month of February of this year is 73% lower than the market value was in February 2010. Additionally, sales for passenger cars suffered an 80% decrease.
Local banks have tightened restrictions on car loans, which are taken out by approximately 70% of all buyers, as a result of the recent decrease in sales.

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