Auto sales in Egypt to sag to 200,000 cars in 2016- Giza Chamber

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The total amount of automotive sales in the Egyptian market is expected to sag in 2016 to 200,000 cars.

Chairman of Automotives Division in Giza Chamber of Commerce, Omar Balbaa stated Wednesday that Egypt’s auto sales exceeded 270,000 cars in 2014 while in 2015 they were estimated at around 220,000 cars.

Balbaa clarified that the Value Added Tax law (VAT) should be studied well to know how it would affect automotive sectors, i.e. applying the VAT would prevent Egypt from its free trade agreement with the European Union that targets removing customs on imported autos by 2019.