Moroccan Cars Market in the 2019 is losing terrain after three years of consecutive records. Indeed, Year to date October sales have been 123.369, down 10.3% with October confirming the trend with 11.755 sales, down 11.0%. Renault Group controls almost the half of the market.
Moroccan economy likely slowed slightly in the third quarter, growth should have held up well, supported by robust domestic demand. Average annual private sector credit growth in July–August was stronger, while consumer and business confidence levels were more or less stable. However, agriculture sector output—which represents roughly 15% of GDP—seemingly continued to fall in Q3. This comes after economic growth decelerated slightly in Q2 on the back of flagging agricultural output and a depressed external sector.
Growth is projected to accelerate next year thanks to a healthy tourism sector, a recovery in agricultural output and recent financial reforms, which should power domestic demand. Regional political tensions and weak activity in the Eurozone pose downside risks to the outlook.
Morocco Vehicles Market in recent years is one of the best in the entire African continent. Based on economic and political stability, the industry is skyrocketing thanks to the Automotive National Plan introduced few years ago, with a clear and substantial incentive in support to attract international investors to develop and produce vehicles locally. Renault, the first investor acting in the country, is improving local plant capacity and actually export in near 70 markets, while PSA is opening the first plant in the country.
Following four years of growth, the domestic light vehicles market established in the 2018 the third all-time record in a string with 173.980 unis.
In the 2019 the trend changed and due to lower demand and slow economic growth, the market will be back at near 160.000 units. Indeed, Year to date October sales have been 123.369, down 10.3% with October confirming the trend with 11.755 sales, down 11.0%.
The competitive landscape is dominated by the Renault Group controlling over the half of the market. Dacia is the top brand with a share of 27.3%, not far from the 28.2% done in the 2018, all time record, with an impressive growth from the 11.7% done in the 2010.
In second place Renault with 13.9% of share, down over 7 points of share from the 2010, and in third Peugeot, recovering with 7.7%, after the low 2018 score (6.6%).
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