13% increase in the number of locally assembled cars during the first 7 months of 2024

The number of cars assembled locally in Egypt jumped by 13.1% to reach 28,518 cars in the period from January to July last year, compared to 25,205 cars in the same period last year, according to the report of the car market Information Council “Amec”.

In contrast, Egypt’s imports of cars also increased during the first 7 months of the current year 2024 by 15.5% to reach 20,714 thousand cars compared to 17,935 vehicles last year, according to the report, a copy of which was obtained by “Mal & business-Shorouk”.

The Japanese Nissan brand continued to lead the first place in car sales with about 1,722 cars during that period, while Chery also came in second place with a total of 1,366 vehicles, followed by Hyundai with 1,246 cars, followed by Chevrolet with a total of 1,002 cars, and MG in fifth place with about 899 vehicles.

It is noteworthy that the sales of the car market in Egypt increased during the first 7 months of this year by 14.2% to reach 49,232 vehicles, compared to 43,140 vehicles in the same period of 2023, according to “AMEC”.

Sales of passenger cars in Egypt during 2023 decreased by 51% to register 90.359 thousand cars compared to 184.771 thousand cars during 2022, according to “Amik”.

There are many car factories in Egypt, whether for local companies or belonging to parent companies, including “Nissan Sunny, Nissan Sentra, Toyota Fortuner, Kia Sorento, MG5, pwd3, Lada Granta, Hyundai Elantra HD, Hyundai Accent RB, Chery Tigo, Chery Arezzo”.

The government hopes to strengthen the automotive sector in Egypt, as it issued a decision in 2018 that the proportion of locally manufactured components in cars assembled in Egypt should not be less than 46.%
The automotive sector in Egypt has suffered over the past two years from the consequences of stopping imports due to the difficulty of obtaining foreign currency, in addition to the increase in its prices in the local market by about five times due to the fall in the value of the pound against the dollar.

Egypt launched the initiative to facilitate the import of cars for Egyptians abroad, in two stages, the first of which began in November 2022, and was aimed at raising up to 2.5 billion dollars, but after the end of the initiative in mid-May, its proceeds were slightly more than a third of the target to record 900 million dollars. The second stage was completed in early May.