Car Sales Decline By 100.000 Vehicles In Six Months

Figures of the National Federation of Insurance and Reinsurance Companies reveal a decline of the number of insurance contracts during 2016, reaching the equivalent of 100.000 vehicles, which is put down to a dwindling in the proportion of the acquisition and sale of cars for this year, as a result of the higher prices, reducing the import ratio and determining the quota of the authorized dealers by 83.000 vehicles, which made the profits of 11 insurance companies decline by nearly 200 billion centimes, in the first first six months of 2016.

According to figures that are obtained by Echorouk, the number of registered contracts for 2016 about the cars’ insurance, reached 3,976,710 contracts compared with 3,870,680 contracts that were signed in the same period of last year, with a turnover of the equivalent of 35 billion and 458 million DZD, compared with 33 billion and 469 million DZD, while the companies that are involved in the transactions are CNA’s contracts, which increase by 6.8%, CAAT by 5.2%, CASH by 10.2%, while GAM is down by 0.3%, “Alliance” -0.7%,, SALAMA -1.6%, CIAR -1.8%, and -2 and 7.6%, AXA -17.6%, CAAR -7.6% and SAA -5.9%.

Based on the same figures, the rate of contracting with insurance companies dropped by 1.8% during the first six months of 2016, knowing that the ratio of vehicles’ insurance reached 56% of the number of deals with the insurance companies and their turnover profits recorded a decline by 7.8%, while the guarantees of civil liability increased by 27.5%, which represents 24.5% of the portfolio of insurance dealers, noting that public companies remain in control of public contracts for companies like Sonatrach, Sonelgaz, Algérie Post and other dealers.