ICEC

Abou Ghaly Motors expects car sales to reach 175,000 by year end

The volume of car sales will reach 175,000 by the end the current year with a growth rate of 35 percent compared to what has been achieved during 2017,  Khaled Hosny Abou Ghaly Motors General Manager Expected.

He told Amwal Al Ghad that the Egyptian market is currently witnessing a state of gradually increasing growth, until it achieved the rates reached before floating the exchange rate in November 2016.

Automobile Marketing Information Council seeks to increase car sales to 500,000 by 2020, Hosny who is the council spokesman added.

However, Car prices have maintained their price increases since last year, especially after the liberilisation of the exchange rate. Auto companies increased their prices in December, making it difficult for the market to improve sales before the end of the year.

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