(MENAFN- Daily News Egypt) With great difficulty, the automotive market managed to sell a total of 33,381 cars worth EGP 6.8bn during the first quarter of this year. This is a 31.2% drop in a year-over-year comparison.
Korean cars kept its lead in sales, with 9,900 sold units over the three-month period, though this is a 36.5% decline year-over-year. The total value of Korean models sold amounts to EGP 1.5bn.
Japanese cars sold 10,100 cars valued at EGP 2.2bn and a sales fall of 27.2% year-over-year.
European models come in third place, selling 6,646 units at EGP 1.7bn, a drop of 31.3%, followed by American brands in fourth with a 33.3% decline and sales of 4,321 units at EGP 980m.
Chinese models came in fifth place with sales amounting to 2,195 units and EGP 245m in value, representing a drop of 43.5%. Asian brands tailed the list with sales of just 120 units of the Malaysian brand Proton with a value of EGP 15.5m, a decrease of 52.6%.
Sales of passenger cars stood at 21,150 units during the first two months of the year, valued at EGP 4.2bn and a decline of 33% compared to the same period of 2015.
Korean brands were able to regain the top spot from cars of Japanese origin. The former achieved sales of 6,307 units at EGP 955m, a drop of 42%, while the latter recorded sales of 5,985 cars at EGP 1.33bn and a year-over-year decline of 25.3%.
European labelled cars came in third place, achieving sales of 4,301 cars worth EGP 1.15bn-a drop of 22.9%.
American brands were ranked fourth with a sale of 3,414 cars over the two-month period. The units were sold at EGP 650m in total, which is a drop of 22.3% from the same period last year.
Chinese cars came in fifth place, selling 1,024 units at EGP 96m in total, recording a drop of 62.5%. Proton recorded sales of EGP 15.5m from selling 120 units, a drop of 13.7%.
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