Despite this upward trend, July’s sales figures remain significantly below the 24,200 monthly average of 2021
Operating directly under the Ministry of Finance, the new unit will focus on streamlining customs and tax procedures specifically for entities involved in vehicle manufacturing, aiming to promote and strengthen the local automotive industry
This reflects a growing stability in the automotive market, following April’s surge of 35.1% MoM to record 5.7k vehicles sold compared to March’s 4.2k
Representatives from both companies recently signed a framework agreement. However, key details such as the capital investment and production capacity of the new venture remain undisclosed
During the period from January to September 2023, total Egyptian imports of cars recorded about $1.3 billion, compared to $1.5 billion in the same period of 2022, with a decline amounting to about $213.6
