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Egypt’s automotive market drops 24.8%

The Egyptian Automotive Marketing and Information Council (AMIC) has said the country's automotive market has shrunk by 24.8% with only 16,396 vehicles sold in the month of August 2011 down from 21,813 vehicles sold in August 2010, Ahram has reported. Passenger cars performed relatively better than the overall market, dropping by 22.4% year-on-year to reach 12,626 cars sold in August 2011 against 16,281 cars sold in August 2010, and dropping by 11.5% m-o-m compared to July 2011.