Egypt Hits The Brakes

The Egyptian automotive market is set to double by 2010 as per capita income surges by 90%, according to BMI's latest Egypt Automotive Report. Solid economic growth over the forecast period, driven by domestic demand will lead to a large increase in middle-class household consumption on big ticket items such as cars. In 2006 alone, automotive sales are forecast to grow 25.1%, with car sales rising 20.5%. BMI forecasts a decline in automotive sales growth to 14% in 2007 and 11% by 2010 due to an expected decline in demand growth, but the market will remain strongly pro-cyclical. Car ownership

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