Since the Egyptian currency devaluation in 2017, there was a sharp drop in the sales of brand-new cars. However, this trend reversed in 2020 due to the “Let it Rust” campaign, calling for the boycott of buying cars which led to a reduction in prices of several car models.
In-car navigation is set to continue to be a declining niche in 2021 due to the replacement of GPS navigation with maps applications on smartphones. These apps are perceived to be easier to use and less costly for car drivers.
Demand for in-car speakers is predicted to continue to decline in 2021, although the rate of decline will be slower over compared to 2020 as some consumers who postponed upgrading their in-car sound systems may invest in enhancing their driving experience. They may also purchase older replacement vehicles due to ongoing price sensitivity rather than invest in newer models, requiring upgrading in terms of in-car entertainment.
Demand for in-car entertainment is overall predicted to record a positive performance in retail volume terms over the forecast period, with slower growth set for 2022 as some Egyptians are likely to remain price sensitive in the short term due to limited disposable incomes following the lockdown and will continue to prioritise their spending. Nevertheless, positive demand over the course of the forecast period will continue to be driven by the dominant in-dash media players, as some consumers invest in upgrading their in-car entertainment systems with higher quality or more advanced technology to enhance their driving experience rather than purchasing a new car with pre-installed media players, or to replace lower-quality pre-installed models.
Demand for in-car entertainment through the dominant distribution channel of electronics and appliance specialist retailers had already begun to slow prior to the pandemic, losing retail volume share to other non-grocery specialists and e-commerce. Nevertheless, the results of the COVID-19 pandemic has resulted in stronger share gain for e-commerce and this channel will continue to gain shares over the forecast period.
Both in-car speakers and in-car navigation will continue to witness volume decline over the duration of the forecast period. Both are perceived as outdated, with consumers preferring to use their smartphones for these features, especially as more and more cars can be connected to smartphones via Bluetooth.
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This report originates from Passport, our In-Car Entertainment research and analysis database.
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