Morocco Automotive Industry Outlook - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Vehicle Type (Passenger Cars and Commercial Vehicles).

Market Snapshot

Market Summary
Study Period:

2018-2024

Base Year:

2018

Key Players:

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Market Overview

The Morocco Automotive Industry is expected to grow at a CAGR of 5.6% during the forecast period 2019-2024.

The increase in investment from leading automakers in the African region and incentives offered by the government is majorly driving the automotive market in Morocco. The automotive production capacity is expected to be doubled by the end of 2022, to reach 160,000 vehicles a year.

Additionally, Morocco’s integration into the global economy was facilitated by the signing of numerous automotive free trade agreements with the European Union and the United States. These trade agreements contributed positively toward the emergence of auto export activities in the country. For instance, in 2007, an agreement was formed between Morocco and Renault-Nissan Group, which resulted in a vast expansion of the company’s engagement in the country, by creating an environment-friendly production site in Tangier costing more than EUR 600 million.

Scope of the Report

The Moroccan automotive industry has been segmented by vehicle type.

By Vehicle Type
Passenger Vehicles
Commercial Vehicles

Report scope can be customized per your requirements. Click here.

Key Market Trends

Foreign Investments from Leading Auto Manufacturers

Foreign direct investment has been continually increasing as companies are attracted towards the country’s favorable economic conditions, government support through their initiatives (such as tax exemptions for the first 5 years, VAT exemptions, and land purchase subsidies), skilled workforce, and modern infrastructure.

  • Some of the recent investments in Morocco’s automotive sector include PSA Peugeot Citroen’s investment of USD 615 million for setting up their manufacturing facility, which is expected to be opera­tional in 2019.
    • The company aims to manufacture 90,000 B-and C-segment passenger vehicles in a year and internal combustion engines (ICE) for passenger cars for both domestic and regional markets.
  • Despite having a low population and sales of vehicles within the country, automobile manufacturers in Morocco made noteworthy exports to Europe, the Middle East, and Africa.
  • Additionally, Morocco’s integration into the global economy was facilitated by the signing of numerous free trade agreements with the European Union and the United States. These trade agreements contributed positively towards the emergence of export activities in the country.
    • For instance, in 2007, an agreement was formed between Morocco and Renault-Nissan Group, resulted in a vast expansion of the company’s engagement in the country, by creating an environment-friendly production site in Tangier costing more than EUR 600 million.
  • Additionally, in April 2016, an agreement was made between Morocco and the Renault Group to further expand Renault’s involvement and position in Morocco, which included the manufacturing of 450,000 vehicles in the country.
Passenger Car Sales Q1 2018

To understand key trends, Download Sample Report

Increasing Demand for Passenger Vehicles

The passenger cars segment witnessed a considerable increase of 4.11% rise in sales during 2017, reaching 155,218 units from its previous year.

During the Q1 of 2019, Dacia stood as the market leader with a 30.3% market share. Renault group in April 2019 has sold about 5,364 units of passenger cars and utility vehicles out of which Dacia alone contributed to 3,157 units. This was followed by Volkswagen with 11,810 units, Peugeot with 11,316 units and Hyundai with 9,882 units sold during 2018.

Morocco developed an investment cluster program, which saw Renault enter the local market. Renault will be the only global automaker assembling vehicles in the country until the arrival of Peugeot in 2019.

The demand for luxury cars has increased in 2018 as compared to the previous year. A total of 1,140 hybrid vehicles were sold in the same year as compared to 342 units in 2017. Luxury car manufacturers have also witnessed an increase in their sales. Mercedes-Benz sold 3,105 units and stood as the market leader in the luxury segment followed by BMW with 2,700 units and Audi with 2.572 units.

Brazil New Vehicle Sales

Competitive Landscape

Morocco has evolved as the largest automotive industry with 345,000 passenger vehicles, surpassing South Africa with 331,000 passenger vehicles in 2017. The country has attracted several investments from international automotive firms such as Renault, Peugeot, and the Volkswagen group.

Renault/Dacia owns a market share of over one-third of new vehicle sales and it is the largest automotive entity in Morocco. The company has two production plants in the country and sources about 42% of its parts from local suppliers.

Major Players

  1. Renault
  2. Nissan
  3. Peugeot
  4. Volkswagen
  5. Dacia

* Complete list of players covered available in the table of contents below

Automotive Industry Market Share

Download the market shares of key players in this industry.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Current Market Scenario

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

    5. 4.5 PESTEL Analysis

    6. 4.6 FDI in Morrocon Automotive Industry

    7. 4.7 Government Regulations and Incentives

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Vehicle Type

      1. 5.1.1 Passenger Vehicles

      2. 5.1.2 Commercial Vehicles

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share**

    2. 6.2 Mergers & Acquisitions

    3. 6.3 Company Profiles

      1. 6.3.1 Automotive Vehicle Manufacturers

        1. 6.3.1.1 Renault-Nissan

        2. 6.3.1.2 Ford Motor Company

        3. 6.3.1.3 Peugeot

        4. 6.3.1.4 Hyundai Motor Company

        5. 6.3.1.5 Fiat S.p.A

        6. 6.3.1.6 Dacia

        7. 6.3.1.7 Volkswagen

        8. 6.3.1.8 Mercedes-Benz

        9. 6.3.1.9 BMW

        10. 6.3.1.10 Audi

      2. 6.3.2 Automotive Part Suppliers

        1. 6.3.2.1 Denso Corporation

        2. 6.3.2.2 Delphi Automotive Systems

        3. 6.3.2.3 Saint-Gobain PAM

        4. 6.3.2.4 Induver Maroc Vitres

        5. 6.3.2.5 Lear Corporation

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. DISCLAIMER

**Subject to Availability

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please Enter a Valid Message!


Complete your payment details below

Shipping & Billing Information

Payment Information