Decline noted for Egyptian auto industry
The Egyptian Automobile Manufacturers Association recently reported that 15 car manufacturing companies presently operate in Egypt, as well as several factories producing automobile-related accessories and spare parts, reported Al-Sharq Al-Awsat daily.
The total investment of automotive companies in Egypt equals seven billion Egyptian pounds, while investments of auto accessories plants stand at two billion EP. The Egyptian automobile industry currently employs 70,000 technicians, engineers and general staff.
A decline in new car sales, from 68,610 units in 1999 to 62,841 units in 2000, was also reported in Egypt. These figures translate into an 8.5 percent drop in sales. The number of the locally manufactured new cars sold, also dropped to 39,880 units in 2000, reflecting a 12 percent fall compared with 1999. The number of the imported new cars fell to 22,961 units in 2000, only a one percent decrease compared with 1999. — (Albawaba-MEBG)
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