Egypt covers over 1 million square kms, the world' 30th country (11th in African continent). Territory is dominated by dry deserts and people has developed economic activity long highly fertile Nile valley or along the Mediterranean coast in the north. Nowadays over 83 millions people are living in Egypt, with a very low pro capita income ($ 6.500 in the 2011). During 2011 the Arab Spring movement started a relatively pacific revolution and the start of democracy process. Actually the State is still controlled by military. Government is highly increasing social spending to address public dissatisfaction aiming to maintain the control of the country. Economy is suffering the politic situation, as shown by a low GDP growth (1.2% in 2011) in spite of huge National Budget Deficit (-10.6% in 2011). Public Debt is very high for an emerging market (it was 85.7% of GDP in 2011, the world's 16th) and it will represent a constraints for economic development as a democratic government will start defining a modern political economy.
Following a robust gain in first two months of the year, in March the Egyptian light passenger market was flat. However, in the first quarter it rose 14.3% from last year. Three Chinese brands in Top 10, with Geely surged in 7th.
In February 2013, car statistics confirmed the positive momentum for the Egyptian car market, which advanced 7.7%, with year-to-date sales up 24.1% from last year. Toyota climbed in second place, pushed by strong performance of its icon, the Corolla.
Following the positive second half 2012, the light passenger vehicle market in Egypt started the 2013 with a robust sales increase, up 42.7%, confirming expectation for a strong year. Hyundai posted a low market share, while Opel an high jump.
Posting a December 22% increase, the Egyptian car market ended the 2012 recovering 13.8% from the previous year. After a long fight, Chevrolet won the battle for leadership against Hyundai. In third position there was Kia.
The Egyptian car market was really strong in November posting a 34.9% jump from last year. Year-to-date sales were up 12.8%, confirming a partial recovery after the 2010 and 2011 decline. Kia climbed in 2nd place with 12.0% of share while Hyundai was 3rd losing 4 points of share.
The Egyptian car market confirms the recovery trend in October posting a robust 15.3% increase from last year. Year-to-date sales were up 10.7%. Chevrolet outpaced Hyundai in the year-to-date ranking, while Renault posted a great month.
The car market in Egypt posted a moderate year-on-year increase in September, posting 18.420 sales, up 5.2%. Year-to-date sales were 141.605, up 10.1%, a slow recovery after the 2012 29% drop. Penalized by short supply, the market leader Hyundai struggled losing the monthly leadership in favor of rival Chevrolet.
During the first 8 months of the 2012, the car market in Egypt is steady growing with year-to-date August sales at 123.185, up 10.9% from last year. In August car sold were 17.458, up 6.4%. Hyundai led the market ahead of Chevrolet.