Research and Markets: Morocco Autos Report Q3 2011

DUBLIN–(BUSINESS WIRE)–Research and Markets (http://www.researchandmarkets.com/research/66ff9c/morocco_autos_repo) has announced the addition of the “Morocco Autos Report Q3 2011” report to their offering.

Business Monitor International’s Morocco Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Morocco’s automotive industry.

Final figures for 2010 released by Morocco’s Association of Vehicle Importers (AIVAM) showed that new car sales in Morocco were down 5% year-on-year (y-o-y), with 103,436 vehicles sold. This total was made up of 91,119 passenger cars and 12,317 light commercial vans. This represented a 24% annual decline in light commercial van sales and a 2.6% annual fall in new passenger car sales, according to a report in the Aujourd’hui newspaper. Out of the 91,119 passenger cars sold, 61,732 were imported, while 29,387 units were manufactured locally. This means that 2010 represents the second consecutive year of decline in the new car sales market in Morocco.

However, it seems to be a different story in 2011, with new car sales up by just under 10% over the first quarter, at 23,130 units. BMI had already believed that there was a strong chance that 2011 could see a turnaround in the performance of the Moroccan new car market and this is now being evidenced by the monthly data.

According to the AIVAM, there was a 15% increase in the number of imported cars sold over Q111, while those produced locally suffered a slight annual decline. Given this highly positive start to the year, and with our macroeconomic team estimating that Morocco’s economy will grow 4.2% in 2011, we maintain our forecast for a 3% increase in new car sales this year, but now feel that there could be a chance of an upwards revision to this forecast later in 2011.

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