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Amic expects 20% growth in auto sales in 2019

Thursday 10 January 2019 03:21 PM


By Ahmed Awad

Automobile Market Information Council (AMIC) Official Spokesman Khaled Hosny expected that the market for cars of all types will rise by 20% to 200 thousand units by the end of this year following low prices after the introduction of full customs exemptions on European cars, and customs duties reduction on Turkish cars to 90% instead of 80% previously.

Hosny stressed that the price discounts announced by many companies will contribute to the return of purchasing power, pointing out that  such companies decided to postpone the purchase after the application of customs exemptions in early 2019.

He added that the market suffered a decline in demand for cars during the fourth quarter of last year.

Nearly 14 European and Turkish brands - Opel, Hyundai, Ford, Alfa Romeo, Skoda, Volkswagen, Porsche, Fiat, Jaguar Land Rover, Audi, Seat, Citroen and Kia -  lowered their models prices by 30% since the beginning of the year so far.