The Automotive Marketing Information Council (AMIC) reported a c29% Y-o-Y decline in passenger car (PC) sales volume to 11,487 vehicles in February 2016 (+c19% M-o-M). This marks the seventh consecutive monthly Y-o-Y decline in passenger car sales, with most companies citing FX shortages as the key market challenge. Total automotive market sales volume fell c31% Y-o-Y, reaching 16,527 units during February, with trucks declining c45% and buses c17%. GB Auto’s (AUTO.CA) combined passenger car sales volumes (Hyundai, Geely and Mazda) fell c16% Y-o-Y to 4,045. GB Auto’s passenger car market share increased to 35.2% in February 2016 compared to 29.7% a year ago, driven by a 31% Y-o-Y increase in Geely sales (c13% of GB Auto’s sales volumes), and as Hyundai sales (c85%) fell at a lesser pace than the market (-21% Y-o-Y), driven by the launch of new models. (AMIC Egypt)   GB Auto: EGP2.61 as of 29 March 2016, Rating: Buy, FV: EGP5.00 per share, MCap: USD322 million, AUTO EY / AUTO.CA