During a recent press conference bringing together many players in the automotive sector and its ecosystem, the Association of Vehicle Importers in Morocco (AIVAM) presented the 2024 results of the new vehicle market in the Kingdom. The opportunity for the members of the Association, in particular for its President Adil Bennani, to review in detail the main areas which have marked the automobile market over the past year and to share its prospects for 2025.
After two years of stagnation, the new vehicle market at the end of 2024 was riding an upward dynamic. In his presentation, Adil Bennani highlighted the remarkable resilience experienced by the Moroccan automotive sector, despite a global economic context marked by multiple challenges. It must be said that national economic growth has proven to be more robust than expected, overcoming a number of major obstacles such as economic crises, geopolitical tensions, fluctuations in fuel prices, restrictions on access to credit, etc.
Read also | Vignette 2025: what changes this year
In any case, cumulatively and at the end of December 2024, 176,401 new cars were sold in the Kingdom, an increase of +9.22% compared to the same period in 2023 when it was sold 161,504 units. Certainly, this result, although remarkable, remains slightly lower than the historic record of 177,400 units reached in 2018. Concretely, sales increased both for passenger vehicles (i.e. 157,139 units sold, up 8.1%). than light utility vehicles (19,262 units sold, up 18.81%).
Read also | Unlike the competition, the Chinese BYD displays insolent health
Let’s talk sales figures and break down the top 10: as expected, Dacia takes first place in the passenger car segment with 39,331 units sold, or 25.03% market share (PDM), followed by Renault which sold 23,697 vehicles (15.08% of market share). Note that the diamond firm sold 4,651 LCVs (24.15% of market price), which places it on the highest step of the podium in the segment. Hyundai maintains its third place (11,898 units and 7.57% market share), followed closely by Peugeot (10,517 units and 6.69% market share) and Volkswagen (10,336 units and 6.58% market share). This is followed by Opel (8,054 units and 5.13% market share), Citroën (7,634 units and 4.86% market share), Kia (5,259 units and 3.35% market share), Audi (4,663 units). and 2.97% of MRP) and Fiat (4,624 units and 2.94% of MRP).
Performances that can be explained
In addition to the economic recovery, other factors could explain this good dynamic in the sector, including the constant and attractive offers from importers, increasingly diversified models given the arrival of new players, the expansion of distribution network of importers and other dealers. Add to this the good performance of the tourism sector, which has a positive impact on the short-term rental sector. The latter now accounts for more than 1/3 of the market (and more than 50% for certain automobile brands).
Read also | Volkswagen Morocco: the bar of 10,000 new vehicles crossed in 2024
According to Mr. Bennani, the city car and SUV segments are the most popular with customers thanks, again, to a diversified offering that is more suited to the purchasing power of households. As for the premium segment, it is not left out since it remains stable with 10.6% of total sales. As for light utility vehicles, it is also experiencing an upward trend. Looking more closely at vehicle models, pick-ups reflect the resumption of service activities. Large and medium-sized vans respond to the growth in passenger transport activities (tourism and business personnel), underlines the boss of AIVAM.
What about electrified vehicles? Although far from international figures, their market share in Morocco increased by 54%, reaching 1.6% of the market, thanks to an offer that more than doubled. This does not take away from the fact that the most popular source of energy in the Kingdom by customers still remains diesel at 80.5%, while gasoline vehicles represent 13.2% of the market, hybrids 4.6%. %, plug-in hybrids 1% and 100% electric 0.6% of the market in 2024, says AIVAM.
Used vehicles: informality is a hit
AIVAM also focused in its analysis on the used vehicle (VO) market which experienced rapid and significant growth in 2024. Largely informal (95%), this sector recorded more than 600,000 transactions, an increase of 28% compared to the previous year. This dynamic demonstrates consumers’ attraction to used vehicles, which are often more affordable and easily accessible.
In the opinion of professionals, this growth of the informal market penalizes the formal second-hand market. And for good reason; Informal transactions often escape the regulations, guarantees and quality controls that characterize the formal sector. Still, this creates challenges for dealers and other approved VO sellers, who must compete with often lower prices but without the same transparency or security for buyers.
Read also | Used vehicles: Autocaz arrives in five new cities
Promising prospects in 2025?
What prospects for the new car market in Morocco in 2025? Although he cannot predict the future with certainty, Adil Bennani is counting on the continued growth of the tourism sector to stimulate demand. Furthermore, the wealth generated by gross domestic product, supported by public demand linked to the preparation of global events such as the African Cup of Nations, or even the Football World Cup, will play a key role.
In addition, the injection of billions of dirhams from the tax amnesty into the real economy should also have a positive impact on economic growth. Regarding the electrification of the vehicle fleet, its development will depend on political support and the expansion of the network of public charging stations, insists the president of AIVAM. Ultimately, he predicts that the new car market will grow by more than 5%. An appointment has already been made for the end of the year!
