By: Islam Fadl
Cairo – Mubasher: Car sales in Egypt are expected to decline by 21.88% year-on-year during the current fiscal year, chairman of El-Saba Automotive, Alaa El-Saba, told Mubasher on Wednesday.
The number of cars sold in Egypt is expected to reach a range between 150,000 and 160,000, compared to 192,000 last year, El-Saba added.
El-Saba revealed that the number of sold cars in the North African country went down by 7% to 74,000 during the first six months of the year, from 79,500 a year earlier.
Around 60,200 cars were sold in Egypt in the first five months of the year, compared to 63,900 in the corresponding period last year, according to a report released by the Automobile Marketing Information Council (AMIC).
Translated by: Muhammad Abdul-Wakeel