293,000 cars sold in Egyptian auto market during 2014

The domestic automotive market exceeded expectations for the anticipated sales volume during 2014, with the sale of 293,000 cars, compared to 195,900 cars sold the previous year, an increase of 49.6%.

Expectations declared by Automotive Marketing Information Council (AMIC) pointed towards the sale of 280,000 vehicles only.

According to the council’s final report of 2014, sales of private cars made a huge leap, with the sale of 208,000 cars against 133,700 in 2013, with an increase rate of 55%, while bus sales increased by 30%, and trucks by about 41%.

Chairman of AMIC Mustafa Hussein said that in 2014, the Egyptian car market has achieved its highest sales in the past five years, pointing out that the value of sales of private cars increased to EGP 30bn.

The chairman of AMIC expects sales to grow during 2015 to a record 352,000 cars, with a 20% growth rate.

Khaled Hosny, AMIC’s official spokesperson, said the market made a dramatic leap in sales in the recent period, adding that 2014 saw great media and customer awareness of the automarket’s role.