Boston, MA -- (SBWIRE) -- 10/21/2014 -- For H114, the passenger car market was up 30.0% year-on-year (y-o-y) and we are maintaining our forecast for 25.0% growth in car sales over the full year. There is potential for similarly high growth in Q3. This period in 2013 saw high political tensions, and the temporary closure of some production plants, which restricted supplies. The latter months of the year saw the market stabilise and this will reduce the stark base effects.

The commercial vehicle (CV) segment also enjoyed stellar sales growth in June with truck sales up 73.0% y-o-y and bus sales 43.0% higher y-o-y. This leaves H114 CV sales ahead of our initial expectations, with H1 truck sales up 36.0% y-o-y and bus sales up 24.0% y-o-y. We have revised up our full-year forecasts for light commercial vehicle sales growth from 7.0% to 18.0% and our bus sales growth forecast from 5.0% to 15.0%. Although we are optimistic for the CV segment based on recent strength in the market, we also believe the removal of fuel subsidies has more scope to impact this segment due to greater fuel use. This is why our revised projections leave room for sales growth to ease later in the year.

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Although the impact of July's fuel subsidy cut will start to be seen from now on, we don't expect higher fuel prices to dent passenger car sales significantly. In addition to the strength of demand in the market, this is also down to consumer preferences, which have already shifted toward smaller fuel efficient vehicles over the last year or so as a result of the weak pound pushing up vehicle prices. We expect this trend to continue, particularly with the higher fuel prices, which will create opportunities for the brands with these models in their range.

Volume brands with smaller cars in their range are already leading the market and drove the impressive passenger car growth in June. Market leader Chevrolet achieved growth of 50.7% y-o-y in the month and second-placed Hyundai Motor registered a 78.5% y-o-y increase in June sales....

The Egypt Autos Report features the latest data and forecasts covering production, sales, imports and exports.

Business Monitor International (BMI)'s Egypt Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Egypt.

Key Benefits

- Benchmark BMI's independent automotives industry forecasts on Egypt to test other views - a key input for successful budgetary and planning in the Egyptian automotives market.

- Target business opportunities and risks in the Egyptian automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Egypt.

- Assess the activities and market position of your competitors, partners and clients via our Competitive Landscape Analysis.

Coverage

BMI Industry View

Summary of BMI's key industry forecasts and views, covering production, sales and the introduction of new technology or products.

Global, Regional and Country Industry Overviews

In-depth analysis of the major global and regional developments in the market, which can be linked with the country industry overview, providing cross-country investment, product and financing trends that will affect each market, supported by BMI?s global and regional industry forecasts.

Business Environment Rankings

BMI's proprietary Autos Business Environment Rankings are a unique country-comparative Risk-Reward Rankings index that separately analyses the risks and rewards of operating in each market. It is aimed at investors (including manufacturers, suppliers and dealers) who seek to either identify and compare market opportunities, or evaluate country-specific operational challenges.

The rankings methodology makes sophisticated use of over 40 industries, economic and demographic data points.

BMI Industry Forecasts

Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Total production value (US$bn); total production of units; production by vehicle-type (including cars, commercial vehicles, trucks and buses); total sales value (US$bn); sales by vehicle-type, including passenger cars and commercial vehicles (vans and microbuses, pickups, trucks and buses, 4 wheel drive); total exports by value (US$bn) and by units; total imports by value (US$bn) and by units; contribution to GDP; employment in industry.

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