About 179,000 passenger cars were sold in the first 11 months of 2015, with a total value of almost EGP 30.6bn.
Korean brands topped the list of passenger cars sold, with 53,700 cars sold from January to November 2015.
Japanese brands came in second with 50,400 cars sold, followed by European models with sales of about 37,200 cars. In the fourth spot are US brands, with 24,800 cars sold. Some 12,200 cars of Chinese origin were sold in that period, putting China in fifth place.
Proton was the least selling car brand in 2015, having sold only 766 cars. Sales of passenger cars are expected to exceed EGP 33bn after the final count for 2015, compared to EGP 30bn in 2014. Despite the drop in the number of units sold, price hikes secured the companies’ profits.
Car prices rose significantly last year as a result of the dollar shortage and the dollar appreciation against the pound, in addition to imposing the indicative prices list by the Customs Authority, which relied on reevaluating prices based on the global price of the cars.