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
The report highlighted that sales of various types of vehicles, including private cars, buses, and trucks, surged by 31.7% year on year (YoY), reaching a total of 10,415 vehicles
Maait explained that this comes in response to the significant interest observed in the initiative's second phase, where registrants in the first 2 months surpassed 3 times the figures from the initial phase
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
