Specific brands account for 91.8% of total bus sales in Egypt

Bus sales in Egypt witnessed a decline of 54% during the first 4 months of 2023, to record about 2,652 buses, compared to 5,759 buses during the same period of 2022.

The latest report of the Automotive Market Information Council (AMIC) indicated that bus sales accounted for 11.4% of total car sales, about 439 cars were registered in April, compared to 1,068 cars in the same month of 2022, a decrease of 58.9%.

Specific commercial brands obtained 91.8% of the total bus sales in Egypt, with 2435 buses during the period “January-April 2023”, compared to 5037 buses, a decrease of 51.6%.

Bus sales in Egypt

According to the report of the Automotive Market Information Council, the Suzuki brand came at the forefront of the best-selling commercial bus brands with a rate of 32.3% of bus sales, with about 857 buses, a decline of 155%.

 Chevrolet came in second place with sales of 595 buses compared to 1551 buses, a decrease of 61.6%, accounting for 22.4% of the total bus sales in Egypt.

The Toyota brand came in third place with 462 buses compared to 1163 buses, a decrease of 60.3%, accounting for 17.4%.

It was followed by King Long, which accounted for 14.4% of the volume of bus sales, to record 383 buses, compared to 335 buses, an increase of 14.3%.

Golden Dragon came with the highest sales, at 5.2% of bus sales during the first 4 months of 2023, with about 138 buses, compared to 437 buses during the same period of 2022.

Car and vehicle installments

In related context, Consumer finance companies pumped 3.2 billion pounds to customers for car and vehicle installments within 3 months, with a relative weight of 31.58% .

According to the FRA’s report, customers consumed financing worth EGP 609m from companies for home finishing and equipment, with a market share of 6% of the total consumer financing.

Clothes and shoes

  Customers’ installment of clothes and shoes amounted to EGP 491 million within 3 months, with a relative weight of 4.84%.

Furniture and home furnishing

  In addition to the installments of furniture and home furnishing, at a value of 424 million pounds, with a market share of 4.18%.

Foodstuffs 

Foodstuffs come with a market share of 3.35% of the total consumer financing values, with customers’ installments amounting to 340 million pounds, followed by purchases issued with a single invoice at a rate of 2.9%, at an amount of 294 million pounds.

Renewable energy

  Customers also obtained financing worth EGP 141m for renewable energy solutions for homes.

Installment of spare parts for vehicles and passenger cars

  Obtaining 140 million pounds in installments for spare parts for vehicles and passenger cars.

Sports club services

Consumer finance companies pumped 119 million pounds for customers to install sports club services and subscriptions, in addition to 689 million pounds in installments for other goods and services.

Consumer finance companies

Consumer finance companies pump 10.15 billion pounds to consumers during the first 3 months of 2023, compared to 6.8 billion pounds during the same period in 2022, at an annual rate of 48.3%, according to the Financial Supervisory Authority.

The total number of customers increased by 23.2%, reaching 853 thousand customers during the first 3 months of 2023, compared to 693 thousand customers during the same period in 2022.

The total number of customers increased by 23.2%, reaching 853 thousand customers during the first 3 months of 2023, compared to 693 thousand customers during the same period in 2022.

Consumer financing means that it is an activity that aims to provide financing for the purchase of goods and services for consumption purposes and to pay for them over a period of time, provided that it is not less than 6 months.

It also includes financing through commercial payment cards or one of the payment methods approved by the Central Bank.