(MENAFNEditorial)
As of end-October 2014 a total of 100128 new vehicles had been sold in Morocco according to figures from Morocco's Vehicle Importers Association (AIVAM) representing a slight (-0.45%) fall on the same period in 2013. Passenger cars continue to account for the lion's share (nearly 90000 units) of vehicles sold in Morocco with commercial vehicles - primarily light commercial vehicles (LCVs) - making up the remainder.
Looking forward it would seem as though 2015 will mark a stronger year for new vehicle sales than 2014 . We are currently forecasting an 8.3% rise in total vehicle sales to 123530 units with passenger cars showing stronger growth than LCVs . BMI's Country Risk team believes that Morocco is poised for a rebound in economic growth this year driven by improvements in the external sector and investment outlook. Both manufacturing exports and tourism should continue to strengthen benefiting from a slight uptick in eurozone economic activity as well as growing diversification towards the Middle East and Africa. We also expect a moderate acceleration in household consumption on the back of lower international food and oil prices as well as a recent hike to the minimum wages of both the public and private sectors.
Full Report Details at
- http://www.fastmr.com/prod/962508_morocco_autos_report_q2_2015.aspx?afid=101
Turning to private consumption a key indicator of potential demand for new vehicles we are forecasting growth of 3.4% in 2015 up from 3% over 9M14. We believe that consumption will be the dominant engine of the Moroccan economy this year. In this context in April 2014 the government decided to increase the local minimum wage by 10% for both private and public sector workers by July 2015. The private sector has already seen a 5% raise at the start of July 2014 which will be followed by an identical increase in July 2015 and an expansion of healthcare benefits affecting the industrial agricultural trade and services sectors. Further demand for new vehicles in 2015 will likely come from the key rental car market. In...
The Morocco Autos Report features the latest data and forecasts covering production sales imports and exports.
BMI Research'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.
Industry SWOT Analysis
Analysis of the major Strengths Weaknesses Opportunities and Threats within the autos sector and within the broader political economic and business environment.
BMI Industry Forecasts
Historic data series and forecasts to end- 2019 for all key industry indicators (see list below) supported by explicit assumptions plus analysis of key downside risks to the main forecast including:Sales and production of motorcycles in units; total production of units; production by vehicle type (including cars commercial vehicles trucks and buses); total vehicle fleet size in units; sales by vehicle type including passenger cars and commercial vehicles; fleet size by vehicle type including passenger car commercial vehicles and motorcycles; total vehicle trade balance in units; vehicle trade balance by vehicle type including passenger car commercial vehicle and motorcycle; car ownership measured as car density per 1000 people.
BMI’s Autos Risk Reward Index
BMI’s Risk Reward Index provides investors (manufacturers suppliers and dealers) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry economic and demographic data points. These provide indices of highest to lowest appeal to investors with each indices explained.
BMI Economic Forecasts
BMI forecasts to end-2019 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.
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.
Sources
The Autos reports draw on an extensive network of primary sources such as manufacturing associations statistical bureaus government transport ministries national chambers of commerce and industry national statistical offices government ministries and central banks and multinational companies.
*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.
"
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts we provide quick and easy access to the best competitive intelligence available. Our unbiased expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.