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Egypt’s GB Auto Sees Sales Doubling as ‘Different World’ Sets in

  • Company no longer incurring losses on models it sells
  • CEO Ghabbour says demand recovery to boost profit this quarter

Egypt’s biggest car distributor and assembler, Ghabbour Auto, expects automobile sales to double in 2019 compared to last year, amid a rebound in demand crippled after currency reforms sent inflation soaring.

The Cairo-based company, which also has operations in Iraq, Jordan and Algeria, expects automobile sales to surge by 25 percent to 4,800 cars in September as it resumes distribution of China’s Geely vehicle this month, GB Auto’s chairman and chief executive officer, Raouf Ghabbour, said in an interview.