Egyptian Automobile Sales up 33 per cent

Egyptian automobile sales continued their recovery in the first quarter of 2012, with purchase figures up 33.4 per cent on the same period the year before. A total of 43,247 automobiles were sold in the opening three months of this year, data from the country's Automotive Marketing Information Council (AMIC) shows. Last month saw 17,213 automobiles sold, with passenger cars accounting for roughly two-thirds -- or 12,519 units -- of this total.

It marked an annual increase of 37 per cent on March 2011 when consumer confidence slumped in the immediate aftermath of Egypt's uprising. Hyundai, assembled in Egypt by GB Auto, recorded an impressive 34.2 per cent market share for the first quarter of 2012, selling 10,657 units. The company had a market share of 27.7 per cent in the same quarter of 2011.