Auto sales in Egypt will shrink by 8.2% during 2020: Fitch Solutions

Vehicle sales in Egypt are expected to shrink by 8.2 percent to record  111,790 thousand car as the industry faces headwinds and “worsening local and global economic outlook due to the spread of covid-19.” according to Fitch Solutions BMI research.

Passenger car sales in the Egyptian market is expected to record 115,790 cars, however Fitch has expected passenger car sales in Egypt to grow by 9.2 percent prior to the coronavirus.

The ongoing pandemic crisis will  continue to deter customers from making a decision to buy a new car, the research house added.

Commercial vehicle sales will shrink in the short term, but Egypt’s thriving construction industry is likely to create a demand pull for the segment in the medium term.

Meanwhile, bus sales are expected to drop by as much 20 percent after having been forecast to increase by 2.1 percent.