By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Net FDIs recorded $8.9bn in 2022, highest since 2011: Hossam Heiba at AmCham
    Net FDIs recorded $8.9bn in 2022, highest since 2011: Hossam Heiba
    March 20, 2023
    Could this be the year for Tobacco Harm Reduction?
    Could this be the year for Tobacco Harm Reduction?
    March 20, 2023
    Strong presence of Egypt’s real estate developers in MIPIM in Cannes
    Strong presence of Egypt’s real estate developers in MIPIM in Cannes
    March 20, 2023
    Raaed Developments launches ROOTS compound in New Sohag with EGP 1.8bn investment
    Raaed Developments launches ROOTS compound in New Sohag with EGP 1.8bn investment
    March 20, 2023
    Tatweer Misr signs MoU with Saudi Arabia to facilitate investment opportunities in Kingdom
    Tatweer Misr signs MoU with Saudi Arabia to facilitate investment opportunities in Kingdom
    March 20, 2023
  • Politics
    PoliticsShow More
    Xi says China will continue to play constructive role in promoting political settlement of Ukraine crisis
    Xi says China will continue to play constructive role in promoting political settlement of Ukraine crisis
    March 21, 2023
    Chinese President Xi meets Putin in Moscow
    Chinese President Xi meets Putin in Moscow
    March 21, 2023
    UN envoy says solution "closest" to end political crisis in Sudan
    UN envoy says solution “closest” to end political crisis in Sudan
    March 20, 2023
    20 years on, George W. Bush’s promise of democracy in Iraq and Middle East falls short
    March 20, 2023
    Iraq 20 years on: researchers assess how US invasion shapes lives today – podcast
    March 20, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egypt car sales jump 49% y-o-y in January 2021
Share
Notification
Latest News
Xi says China will continue to play constructive role in promoting political settlement of Ukraine crisis
Xi says China will continue to play constructive role in promoting political settlement of Ukraine crisis
Politics
Chinese President Xi meets Putin in Moscow
Chinese President Xi meets Putin in Moscow
Politics World
Toyin Falola: 3 recent books that explain the work of Nigeria’s famous decolonial scholar
Culture
UN envoy says solution "closest" to end political crisis in Sudan
UN envoy says solution “closest” to end political crisis in Sudan
Politics
Net FDIs recorded $8.9bn in 2022, highest since 2011: Hossam Heiba at AmCham
Net FDIs recorded $8.9bn in 2022, highest since 2011: Hossam Heiba
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Automotive > Egypt car sales jump 49% y-o-y in January 2021
Automotive

Egypt car sales jump 49% y-o-y in January 2021

Alyaa Stohy
Last updated: 2021/03/02 at 11:43 PM
By Alyaa Stohy 1 Min Read
Share
SHARE

Automotive sales in Egypt increased 49% year-on-year (y-o-y) in January 2021, but saw a downturn of 24% month-on-month (m-o-m), due to seasonality impact, recording 20,700 units. 

Passenger car sales increased 71% y-o-y, but were down 26% m-o-m due to seasonality impact, amounting to 14,900 units. 

Ghabbour Auto (GB Auto) reported that the total market share for Hyundai, Mazda, Geely, and Chery brands, for which it is the agent in Egypt, amounted to 16.5% in January 2021. This was down from 22.9% in January 2020, but flat m-o-m. 

The company’s passenger car sales in January increased by 23.2% y-o-y, but were down 25.9% m-o-m, amounting to 2,400 units. 

The y-o-y growth was driven mainly by higher CKD sales (up 56%), while CBU was down 25% y-o-y. The m-o-m decline was driven by lower CBU sales to the extent of 36.5%, while CKDs declined 22%, implying good earnings y-o-y for GB Auto’s automotive segment in the first quarter (Q1) of 2021. 

Regarding MM Group’s car sales, the luxury brands saw sales volumes fall 49.5% y-o-y, but increase 69% m-o-m, amounting to 51 units in January 2021.

You Might Also Like

Tax-free car import initiative for expats comes into force: Finance Minister

Egypt Automotive Summit’s 7th edition reviews national strategy to develop auto industry

Production of first batch of BMW cars assembled in Egypt to kick-off in 1Q 2023: Global Auto Group

High demand for ‘tax-free car import for expats’ initiative: Finance Minister

Mercedes-Benz Egypt on track to open logistics hub in Suez Canal Economic Zone 

TAGGED: Car, Sales
Share this Article
Facebook Twitter Email Print
Previous Article Mohamed Kaoud, President of the Tourism and Aviation Committee at the Egyptian Junior Business Association (EJB). US, China, EU, G7 main potential tourists export countries for Egypt: EJB
Next Article Egypt, Iraq CIT Ministers discuss strengthening cooperation in digital transformation Egypt, Iraq CIT Ministers discuss strengthening cooperation in digital transformation
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Xi says China will continue to play constructive role in promoting political settlement of Ukraine crisis
Xi says China will continue to play constructive role in promoting political settlement of Ukraine crisis
Politics
Chinese President Xi meets Putin in Moscow
Chinese President Xi meets Putin in Moscow
Politics World
Toyin Falola: 3 recent books that explain the work of Nigeria’s famous decolonial scholar
Culture
UN envoy says solution "closest" to end political crisis in Sudan
UN envoy says solution “closest” to end political crisis in Sudan
Politics
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?