The Egypt Used Car Market is made up of organisations like organised original equipment manufacturers (OEMs), multi-brands, and online classified platforms, as well as financial institutions that offer services for financing used cars. This market is supported by an increase in the number of millennials living in the country.
Manufacturers’ investments in building the brand, expanding the network of used car dealers, and allowing customers to select this option further support growth.
With huge presence, Un-organized Sector outnumbers the Organized Sector of Used Car Market in Egypt. Independent dealers (Car Tents) have major influence on the market due to large presence across the country.
These dealers are increasing their online presence by listing their inventory on their own website/Facebook account or platforms, thereby attracting customers.
The Egypt Used car Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
This market has recently undergone a rapid digitization process, with several startups upending established players like classifieds in an effort to usher in a new era of used-car sale platforms. Popular brands with strong resale values in Egypt include GB Auto, Mansour Automotive, and Nissan.
Sylndr has not yet made its public debut. However, it is modelling its business after India’s Cars24, which acquires vehicles from sellers, pays a predetermined price for them, restores them, and then resells them to new owners. The founders of Sylndr claim that they also intend to offer users a seven-day money-back guarantee, a warranty, and flexible financing options.
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