Morocco, leading exporter of cars to the European Union

Morocco, leading exporter of cars to the European Union
Morocco, leading exporter of cars to the European Union

Morocco generated $13.7 billion from export cars and produced 535,825 cars in 2023. The country exported $11 billion worth of cars and produced 464,864 cars in 2022-2023. Exports show growth of 30.2% compared to the same period a year earlier, according to the Foreign Exchange Office. This development is driven by increased sales in the construction, cabling, and vehicle and seat interior segments, explains the Foreign Exchange Office in a bulletin dated January 2024.

The Moroccan automotive sector export record achieved in 2022 with more than 111 billion dirhams is therefore broken. The mark of 130 billion dirhams in export sales has been exceeded, or 13 billion dollars. At the same time, the automobile industry once again becomes the Kingdom’s leading export sector, ahead of phosphates. This double-digit annual growth positions the Shereef Kingdom as a strategic African platform in the production and export of automotive equipment and vehicles.

Morocco is now the leading exporter of cars to the European Union, ahead of China, Japan and India, while it is already the leading producer of cars on the African continent. A position reinforced by the establishments of foreign groups such as Renault, Snop, GMD, Bamesa, Delphi, Yyazaki, Sews, Saint-Gobain and more recently Stellantis (formerly PSA). The automobile industry is the country’s leading export sector ($8.4 billion, mainly driven by increased sales in the construction segment).

Indeed, in 2023, with 161,504 vehicles sold, the Moroccan automobile sector recorded a small growth of 0.1% compared to 2022, but it remains down 7% compared to 2021. In 2021, the sector had sold 175,360 vehicles, thus achieving 30% growth compared to 2020. Ecosystem logic thus promotes greater integration of the sector (the integration rate of the automobile industry in Morocco reached 63% in 2021), as well as ‘better organization of its players who gain in competitiveness, quality and responsiveness. The Top 10 passenger car sales in Morocco for the month of November 2023 shows that Dacia is the best-selling brand with 2,834 sales, followed by Renault with 2,148 sales. Peugeot occupies third place with 1,147 sales.

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