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    Automotive Sector: Car Sales in Morocco Drops By 11.03%

    Despite witnessing a drop in sales in the past year, the automotive sector remains a major contributor to Morocco’s GDP.

    04 Aug 2022

    Rabat - Compared to the same period last year, the sales of new cars in Morocco experienced a decrease of 11.03%, standing at 95,544 units at the end of July this year.

    The number of new registrations for private vehicles reached 8,771 units in the same period, representing a 9.68% decrease in the first seven months of 2022.

    Light commercial vehicles' registrations are estimated to stand at 9,773 units, indicating a decrease of 21.34%, according to data from the Association of Vehicle Importers in Morocco (AVIAM).

    In terms of brands, Dacia continues to top the list of the most sold vehicles in Morocco -- with a market share of 27.55% of 23,634 units sold at the end of July 2022.

    Renault is the second on the list, with 11,946 sold units and a 13.93% market share; Hyundai comes in third position with 8,575 units sold and a market share of 10%.

    Meanwhile, Renault leads the list when it comes to light commercial vehicles -- with 2,376 sold units and a market share of 24.31%. DFSK comes second, selling 1,439 light vehicles to secure a market share of 14.72%. The third, Ford, 1,224 units to register a market share of 12.52 %.

    AVIAM reported a drop in overall sales estimated at 12.31% in the month of July, compared to the same month of 2021. Passenger vehicle sales recorded a drop of 10.34% this month, with 10,592 units sold compared to 11,814 units in the same period last year.

    Light utility vehicle sales also experienced a drop of 27.40% -- with 1,121 units sold last July against 1,544 units sold a year earlier.

    Despite this notable fall in sales, the automotive sector remains a key contributor to Morocco’s economy. In 2019 the automotive industry accounted for about 19% of Morocco’s GDP, according to data cited in a 2020 report by the Oxford Business Group.

    In addition, Morocco’s central bank, Bank Al-Maghrib (BAM), said in June that exports from Morocco’s automotive industry are expected to grow by 33.7% to reach $5.2 billion in 2022. BAM noted that the country’s exports should further grow by 10.5% to reach $5.7 billion by next year.

    moroccoworldnews

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