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Auto assembly companies experience 4-month decline amid US dollar shortage - Daily News Egypt

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Auto assembly companies experience 4-month decline amid US dollar shortage

During the first four months of 2016, 44,900 cars were sold, compared to 63,700 at the end of April 2015.


Auto assembly companies’ performance indicators revealed declines during the first four months of 2016.

The decline experienced by the domestic automotive market is due to the shortage of US dollars, which brought the sales of passenger cars down by 30%.

During the first four months of 2016, 44,900 cars were sold, compared to 63,700 at the end of April 2015.

 

The prominent brands Hyundai, Nissan, Chevrolet, Jeep, and BMW sold 24,500 units and acquired 54% of the passenger cars sales market by 24 April, excluding the Chinese Geely, Chery, and BYD.

 

Hyundai had the highest sales, selling 12,800 units, which is 13% less than the 14,700 units they sold at the end of April 2015.

Nissan occupied second place, selling 6,634 units, a decline of 1% from the end of April 2015. Nissan was followed by Chevrolet, which sold 3,954 units, a 44% decline from the 7,103 cars sold by the end of April 2015.

 

Jeep ranked fourth in sales, increasing its sales by 34% with 997 units compared to 746 units in 2015.

 

BMW sold 607 cars, a decline of 45% from 1,097 cars sold by the end of April 2015.

 

Car sales declined by 29.3% during the first four months of 2016, a slight improvement of the market after recording a decline of 31.2% during the first quarter (Q1).

The market witnessed the trade of 66,400 units from early January until the end of April, compared to 93,900 units in a year-on-year (y-o-y) comparison.

The Automotive Marketing Information Council’s (AMIC) report stated that passenger car sales declined in Q1 with 30% to record sales of 44,900 units, compared to 63,700 y-o-y.

Bus sales recorded 8,400 buses, a decline of 25% compared to 11,250 buses in 2015, while truck sales recorded 13,000 trucks, a decline of 31%, compared to 18,900 in 2015.

The locally assembled car sales declined by 25.1% and recorded sales of 33,200 units in Q1 compared to 44,300 y-o-y, while imported cars sales decreased by 33% and recorded sales of 33,200 units compared to 49,600 y-o-y.

 

Topics: Cars

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