Egypt's GB Auto expects 30% car sales increase in third quarter

The company was able to sell 10,000 cars in the second quarter of this year, said Qabbani, expecting sales to reach 13,000 cars in the third quarter across the ME region

  
An exterior view of Egypt's biggest car assembler GB Auto in Cairo September 10, 2013.

An exterior view of Egypt's biggest car assembler GB Auto in Cairo September 10, 2013.

REUTERS/Mohamed Abd El Ghany
 
RIYADH: Leading Middle East automotive company Ghabbour Auto company (GB Auto) forecasts a 30 percent increase in car sales in the third quarter of this year, quarter-on-quarter, Board Member Mansour Qabbani told Al Arabiya.

The company was able to sell 10,000 cars in the second quarter of this year, said Qabbani, expecting sales to reach 13,000 cars in the third quarter across the ME region.

The automotive industry sector achieved revenues of 5.8 billion Egyptian pounds in the second quarter of this year, with a net profit of 231 million Egyptian pounds, according to Qabbani.

Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From North Africa