The passenger car market witnessed an 11 per cent increase in its overall sales as compared to October 2011, with 13,376 units sold in October 2012, the latest report of the Automotive Marketing Information Council (AMIC) has shown.
The AMIC report foresees a three per cent annual increase of overall passenger car sales for 2012, with almost 138,000 units being sold.
Ghabbour Automotives (GB Auto), Egypt's only listed automaker, saw its market share during the month of October 2012 drop below its normal rate of 22 per cent due to supply shortages from Hyundai. Its overall market share during the year stands at 30 per cent.
Supply issues that affected GB Auto were mainly because of a series of successful labour strikes that slowed the supply chain.
Hyundai management declared that supply returned to normal levels in mid-October, which means GB Auto will likely recover its normal market share in November and December.