Moroccan Cars Market in the 2018 is losing terrain after the positive trend scored in the last year. Indeed year to date September figures are down 3% with LCVs segment sustaining the market. Fueled by a positive economy, the market outlook is positive.
Moroccan economy growth accelerated in Q3, thanks largely to a strong harvest buttressing agricultural output. Industrial sector activity also appeared to have increased on a rebound in mining and quarrying output. Meanwhile, robust tourist inflows should have supported the services sector, despite consumer confidence dropping in the quarter.
Growth should pick up in 2019 and 2020, supported by a strong tourism sector and recent reforms to attract foreign investment in key industries, which should start to buttress FDI inflows in coming quarters
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.
The domestic market is growing year after year, hitting in the 2017 the third all time record in a row, with 168.593 new light vehicles sold, up 3.1%.
In the 2018 the light vehicles market has been moderately positive until the end of the first half, before to lose 13.5% in the third quarter. Year to date September sales have been 123.360 (-3.3%) thanks to the robust trend of the LCVs segment which balance the decline of car passenger’s.
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The competitive landscape is dominated by the Renault-Nissan Group which controls near the half of domestic sales, with Dacia market leader with 33.918 sales (-6.4%) ahead of Renault with 15.503 (-4.4%).
Research, Consulting, Data & Forecast Store
F2M covers intensively this market with several products developed to help any investigation required. Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2025. Auto Data in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end. All these and more within Morocco Corner Store