Egypt new vehicles sales down hard in Q3 2015 albeit expected economic expansion promised by actual non-elected government. Real data from economy are still weak and the car market will struggle again.
Much of the hype surrounding the government’s plans for revitalizing the economy in the short-term seems to be fading.
Revenues at the expanded Suez Canal were weaker in August and September compared to last year as global trade flows remain subdued. While the government is prepared to continue spending, it is unclear if other large-scale infrastructure projects will materialize going forward. The discovery of a massive gas field should help boost capital inflows, although it will take years for investment to ramp up on a significant scale.
Meanwhile, there is concern regarding the pace of reform efforts, with no new details about the planned introduction of a VAT or further changes to fuel subsidies.
A first round of parliamentary elections was held in late October amid notably low turnout. Voting will continue later this month and results are expected in early December. Egypt has been without a parliament since 2012, and while analysts predict that the new parliament will largely support President Abdel Fattah el-Sisi, political stability is not guaranteed.
In the last 50 years, Egypt has represented the productive hub for the automotive sector in North Africa. Moreover, in the last decade this rule has been progressively lost in favor of Algeria and Morocco albeit the domestic new vehicles market medium term trend has been positive.
The new vehicles market has gained momentum last year hitting the new record volume and in the 2015 is moderately losing.
Indeed, according to data released by focus2move Research Team through local sources and the Egyptian Automotive Marketing Information Council (AMIC), following a first half sales of 148.730 units, flat from the previous year, the third quarter figures were progressively declining with July sales down 3.4%, August down 11.0% and September down 19.2% at 22.071 units sold.
After the first three-quarters of the 2015, total sales had been 190.994, down 5.1% from the correspondent period last year.
After having lost the leadership in the first quarter, Chevrolet has reaffirmed its rule on top of the market in recent months. In September it sod 4.626 vehicles (-12.6%) and was ahead of Hyundai with 3.447 (-28.1%) and a surprising Renault with 2.404 (+50.4%).
Just 12 month ago the French manufacturer has re-launched the local activities achieving amazing performances in short-term.
Others fast growing brands had been Subaru (+187%) and Fiat (+780%, but from a low-base)
As far as the car group’s performance, the year to date leader is Hyundai with market share at 22.4% ahead of General Motors with 21.0% and Renault-Nissan with 15.7%.
As far as best-selling models ranking, in September the Chevrolet TFR was on top with 2.172 sales (-8.2%) ahead of Nissan Sunny with 1.660 units (-9.7%) and Hyundai Verna with 1.589 (-40.0%).
Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will report year to date data updated.
|Rank Sep||Rank 2015||Brand||Sales Sep||Sales Ytd||Var Sep||Var Ytd||Share Sep||Share Ytd|
|Rank Sep||Rank 2015||Model||Sales Sep||YTD Sep||Var Sep||Var YTD||Share Sep||Share 2015|
|1||1||Chevrolet TFR Single Cab||2.172||19.017||-8,2%||5,1%||9,85%||9,6%|
|9||5||Mitsubishi Lancer EX||651||6.473||-4,0%||119,1%||2,95%||3,3%|
|13||16||King Long XMQ6500E||372||3.583||-3,1%||-5,2%||1,69%||1,8%|
|19||14||Golden Dragon Haice||289||3.617||14,2%||5,2%||1,31%||1,8%|
To know all about the Egyptian Automotive market, see the Egypt Car Market 2012-2020 Outlook: