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27% increase in used car listings in 2017: OLX Egypt

The number of car listings increased by 27% year-on-year in 2017 to more than 1 million listings.
07.02.18 | Source: Ahram Online

The value of used cars listed for sale on OLX Egypt recorded over EGP 200 billion in 2017, according to the annual report on the used car market published on Tuesday by the global online marketplace.
Car listings saw a 27 percent year-on-year increase in 2017 to over 1 million listings.

“The report results reflected the positive impact of the Egyptian pound floatation at the end of 2016 on the used car market, in addition to the fuel price increase in mid-2017, as well as the value-added taxes,” OLX said in an e-mailed press release.

“These changes in the economy strengthened the used car market as demand for new expensive cars decreased,” according to the release.