Auto sales in Egypt to drop by 30% in 2016: official

The volume of automotive sales in Egypt is expected to decline by 30-35 percent in 2016 to around 200,000 autos from 290,000 autos in 2015.

Speaking to Amwal Al Ghad on Tuesday, a member of automotive division at Federation Of Egyptian Chambers Of Commerce (FEDCOC), Alaa El-Sabaa stated that the drop in sales volume and annual importing rates is due to the rise in dollar prices.

On other side, the official added that the Value-added Tax (VAT) law is set to up prices of vans and minibuses from 10 to 13 percent.