The Moroccan automotive industry is booming thanks to a notable growth in exports, with ambitious plans for production and export in the coming years reinforcing its global impact.
The automotive industry in Morocco continues to thrive. Recent figures from the Office of Changes highlight the market's improvement, with a notable 30.2% increase in exports compared to the same period last year, totaling over 130.64 billion dirhams. This exceptional performance is attributed to the surge in sales across various segments. Construction saw an increase of 12.64 billion dirhams, wiring experienced a rise of 10.42 billion dirhams, and the interior of vehicles and seats also recorded significant growth of 2.19 billion dirhams.
The previous record for exports in the Moroccan automotive industry, established in 2022 with over 111 billion dirhams, has already been far surpassed
With the current capacity to produce around 700,000 vehicles per year, Morocco aims to achieve an annual production of one million cars by 2025. Regarding exports, the Kingdom targets a turnover of 200 billion dirhams for this year, with even more ambitious projections for 2029, reaching 360 billion dirhams. The future prospects of the sector remain promising, supported by the forecasts of Bank Al-Maghrib, which anticipate a 5.8% increase in exports in 2024, with a projected turnover of 155 billion dirhams
The source of the article is l'observateur