The increase in sales was primarily propelled by the passenger car segment, which witnessed a remarkable 14% month-on-month growth, reaching a total of 7,916 units sold
Monthly car sales in November 2023 recorded their peak in 2023, as indicated by the latest data released by the Automotive Marketing Information Council (AMIC) yesterday. The figures revealed that distributors successfully sold over 9,900 vehicles during the month, marking a substantial 10% increase compared to the previous month of October.
The increase in sales was primarily propelled by the passenger car segment, which witnessed a remarkable 14% month-on-month growth, reaching a total of 7,916 units sold. Notably, truck sales also experienced a notable upswing, climbing by over 9% month-on-month to a total of 1,089 units sold.
However, the bus segment encountered a decline in sales during November, with a drop of 8.2% compared to the previous month, resulting in a total of 929 units sold.
These latest statistics indicate a positive trend in the automotive market, with distributors having achieved sales of nearly 80,000 units in the first 11 months of 2023.
The Egyptian Cabinet issued a draft law to re-launch the zero-customs car import initiative in Septmeber 2023 for expats for three months. The initiative allows expats to import one personal-use vehicle to Egypt without customs duties or taxes, raised almost $900 million to Egypt.
In August 2023, Central Agency for Public Mobilization and Statistics (CAPMAS) reported that the value of passenger vehicles imported to Egypt witnessed a 124% year on year increase to record $209.8 million.
