AMIC expects passenger car market to grow 20% in 2019
The Automotive Marketing Information Council (AMIC) expects Egypt’s passenger car market to grow by 20% and for sales to reach 200k cars in 2019. AMIC attributed the growth to the decline in prices of cars to be witnessed in 2019, driven by the elimination of customs duties on EU-assembled cars as of 1 Jan 2019, and reduction of customs on Turkish cars rising to 90% from 80%. Fourteen car brands (European and Turkish) have reportedly lowered their prices by 2-30% since the start of 2019.
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