Auto sales decline 25% in 2016: Giza Commerce Chamber

The total volume of automotives sales dropped by around 25 percent in 2016 to 200,000 autos compared to 265,000 autos in 2015, automotive division at Giza Chamber of Commerce announced Thursday.

Division’s Chairman Omar Balbaa added that this decline was due to the prices hike in country of origin as well as the rise in dollar prices.

On other side, Head Balbaa stated that the government should strengthen the local industry, provide production necessities, and enhancing automotive feeding industries to make use of Agadir Agreement and  The Egyptian-European Partnership Agreement.