Egypt’s Car Imports Plummet in January 2023

According to a report from the car market Information Council “”Amec,”” Egypt’s car imports fell sharply in January 2023 compared to the same period in the previous year. The report reveals that imports of European cars plunged by a staggering 92%, with only 347 cars imported compared to 4,417 in January 2022. Similarly, the number of South Korean cars imported to Egypt decreased by 91.7%, with only 270 cars imported, down from 3,260 cars in the same period last year.

The report further showed that the number of Japanese cars imported to Egypt during January 2023 fell by 75.9%, with only 1,449 vehicles imported compared to 6,010 vehicles in January 2022. Meanwhile, the number of cars imported from the United States dropped by 79% to just 87 cars compared to 414 cars in the same month last year.

Chinese cars saw a 53.6% decrease in the number of imports in January, with only 1,276 cars imported compared to 2,748 cars in January 2022. Interestingly, the report noted that no cars were imported from India in January 2023, in contrast to almost 40 cars imported in 2022.

The decline in car imports is a significant blow to the Egyptian economy, as it may indicate a drop in consumer demand or supply chain disruptions due to global events. It remains to be seen how this trend will evolve in the coming months and whether the Egyptian government will take any measures to stimulate the auto industry.