Despite this upward trend, July’s sales figures remain significantly below the 24,200 monthly average of 2021
Auto sales in July surged by 42.2% month-over-month, reaching 11,400 vehicles, according to the Automotive Marketing Information Council (AMIC).
This marks the fourth consecutive month of increased sales, following a significant 43% decline in March.
Despite this upward trend, July’s sales figures remain significantly below the 24,200 monthly average of 2021, a period before foreign currency shortages led to a sharp decline in imports, global supply chain issues raised prices, and car distributors hiked car prices.
Passenger cars led the sales increase, rising 50.7% from June to approximately 9,700 units, making up 85.5% of total sales.
Bus sales grew by 4.9% to 643 units, while truck sales rose by 8.1% to just over 1,000 units.
Year-on-year, July's sales were 81.2% higher compared to July 2023, driven by a 97.6% increase in car sales, a 13.6% rise in bus sales, and a 27.2% climb in truck sales.
Just yesterday, Minister of Finance Ahmed Kouchouk announced the creation of a new central unit aimed at streamlining customs and tax procedures for the automotive industry.
This unit, reporting directly to the finance ministry and overseen by the Secretary-General of the Fund for Financing Environmentally Friendly Vehicle Manufacturing, will focus on expediting processes for vehicle manufacturers, component suppliers, and other participants in the National Program for Automotive Industry Development.
