(MENAFNEditorial)
The local Auto Expo Show - held in Casablanca in mid-May 2014 - acted as something of a fillip to what had been a largely lacklustre new vehicle sales performance over the first four months of the year. Indeed following a very successful period for new passenger car sales over both May and June a process began by the Auto Expo H114 new passenger car sales were up by 1.67% year-on-year (y-o-y) at 57723 units.
However the performance of commercial vehicle sales continued to disappoint down by 11.9% to just 6247 units underlining the still-sluggish nature of the Moroccan economy. In total 63970 new vehicles were sold in Morocco over H114 according to figures from the Association of Vehicle Importers (AIVAM) representing a slight 0.16% rise y-o-y.
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The Q214 performance (of over 36000 new vehicles sold) was a marked improvement on the 27630 vehicles sold over Q114 and could potentially mark the start of a recovery in a new vehicle sales market which contracted by over 7% during 2013.
Looking forward it would seem as though 2015 will mark a stronger year for new vehicle sales than 2014. With preliminary estimates by the national planning agency (HCP) suggesting that real annual growth slowed to just 2.0% in H114 BMI's Country Risk Team has revised downward its 2014 growth forecast from 2.9% to 2.6%. This would be the worst reading for the Moroccan economy since 2000 and compares unfavourably with the average annual growth rate of 4.1% recorded between 2009 and 2013.
However 2015 should be another story. BMI is targeting an acceleration in GDP growth to 4% as a result of an improved external environment and better liquidity. Faster economic activity in the eurozone should help to bolster an ongoing recovery in exports and tourism; we also see growth picking up in France and Spain the country's two largest trading partners. We also expect Moroccan domestic demand to strengthen next year on the back of a better investment outlook and the positive...
The Morocco Autos Report features the latest data and forecasts covering production sales imports and exports.
Business Monitor International (BMI)'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 the automotives market in Morocco.
Key Benefits
* Benchmark BMI's independent automotives industry forecasts on Morocco to test other views - a key input for successful budgetary and planning in the Moroccan automotives market.
* Target business opportunities and risks in the Moroccan automotives sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in Morocco.
* Assess the activities and market position of your competitors partners and clients via our Competitive Landscape Analysis.
Coverage
BMI Industry View
Summary of BMI's key industry forecasts and views covering production sales and the introduction of new technology or products.
Global Regional and Country Industry Overviews
In-depth analysis of the major global and regional developments in the market which can be linked with the country industry overview providing cross-country investment product and financing trends that will affect each market supported by BMI’s global and regional industry forecasts.
Business Environment Rankings
BMI's proprietary Autos Business Environment Rankings are a unique country-comparative Risk-Reward Rankings index that separately analyses the risks and rewards of operating in each market. It is aimed at investors (including manufacturers suppliers and dealers) who seek to either identify and compare market opportunities or evaluate country-specific operational challenges.
The rankings methodology makes sophisticated use of over 40 industries economic and demographic data points.
BMI Industry Forecasts
Historic data series and forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions plus analysis of key downside risks to the main forecast including:
Total production value (US$bn); total production of units; production by vehicle-type (including cars commercial vehicles trucks and buses); total sales value (US$bn); sales by vehicle-type including passenger cars and commercial vehicles (vans and microbuses pickups trucks and buses 4 wheel drive); total exports by value (US$bn) and by units; total imports by value (US$bn) and by units; contribution to GDP; employment in industry.
BMI Economic Forecasts
BMI forecasts to end-2018 for all headline macroeconomic indicators including real GDP growth inflation fiscal balance trade balance current account and external debt.
Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles enabling a full evaluation of recent company performance and future growth prospects.
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