Despite a suspension of its activities from March 20, 2020 due to the general lockdown decided by the authorities, the company CITY CARS, dealer of the KIA brand in Tunisia, was able to increase its revenues at the end of the first quarter of 2020.
Thus, the dealer’s revenues went up by +9.8% to 53.5 million dinars, against 48.7 million during the same period in 2019.
This increase is mainly due to the higher volume of New Vehicle sales by +14.3%, from 977 units at the end of March 2019 to 1,117 units at the end of the three months of the current year.
At the end of March 2020, investment income amounted to 844 thousand dinars, against 592 thousand dinars on March 31, 2019, marking a substantial increase of 42.6%.
At the end of the first quarter, the net cash position stood at 33.9 million dinars, compared to 31 million dinars a year earlier, up 9.1%.