EAMA expects total car sales to drop by 50% Y-o-Y in 1H17
The Egyptian Automotive Manufacturing Association’s (EAMA) Chairman expects total car sales to drop by 50% Y-o-Y in 1H17, given the increase in car prices since the EGP floatation, which he described as ‘unreasonable’. He further added, that he expects car assemblers to reduce their production in light of current price hikes, which have led to a near-complete halt in car sales over the past few months. (Al Mal)
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