2014-04-02 20:53:03 - Egypt Autos Report Q1 2014 - a new market research report on companiesandmarkets.com
Latest data from Egypt´s Automotive Marketing Information Council (AMIC) show a 4.8% year-on-year decline in passenger car sales, to 108,521 units, for the first 10 months of 2013. However, reports of improved business and consumer sentiment, as well as upbeat sales reports from leading dealers, suggest that the market will be in a position to stage a recovery in 2014, in line with the forecast for 3.0% growth, following a 6.0% decline in 2013.
The commercial vehicle segment, meanwhile, will benefit from an expected uptick in tourist arrivals and, accordingly, we expect the bus segment to be an outperformer.
The increasing availability of affordable brands, as well as pent-up demand from purchases delayed in 2013 and low base effects, should set the
scene for a strong start to 2014. Political risk will be the biggest ongoing threat to consumer sentiment, especially with a planned referendum on an amended constitution in January 2014. There are encouraging signs, however, including the lifting of the nightly curfew in Cairo in November, and the easing of travel restrictions by several countries, particularly in Europe, which is a major source of tourist traffic.
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