Morocco: Passenger Car Market 2024

Passenger Car Market Size in Morocco

The Moroccan passenger car market declined to $X in 2023, waning by X% against the previous year. In general, consumption continues to indicate a abrupt curtailment. Passenger car consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Passenger Car Production in Morocco

In value terms, passenger car production expanded significantly to $X in 2023 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2023, production failed to regain momentum.

Passenger Car Exports

Exports from Morocco

For the third year in a row, Morocco recorded growth in shipments abroad of passenger cars, which increased by X% to X units in 2023. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2013 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in years to come.

In value terms, passenger car exports skyrocketed to $X in 2023. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in the near future.

Exports by Country

France (X units) was the main destination for passenger car exports from Morocco, accounting for a X% share of total exports. Moreover, passenger car exports to France exceeded the volume sent to the second major destination, Italy (X units), threefold. Spain (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to France amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Spain (X% per year).

In value terms, France ($X) remains the key foreign market for passenger cars exports from Morocco, comprising X% of total exports. The second position in the ranking was held by Italy ($X), with a X% share of total exports. It was followed by Spain, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to France totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Spain (X% per year).

Export Prices by Country

In 2023, the average passenger car export price amounted to $X per unit, with an increase of X% against the previous year. In general, the export price, however, continues to indicate a mild downturn. The pace of growth was the most pronounced in 2016 an increase of X%. The export price peaked at $X per unit in 2017; however, from 2018 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2023, amid the top suppliers, the highest price was recorded for prices to Turkey ($X per unit) and Poland ($X per unit), while the average price for exports to Egypt ($X per unit) and the Czech Republic ($X per unit) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced a decline.

Passenger Car Imports

Imports into Morocco

In 2023, approx. X units of passenger cars were imported into Morocco; picking up by X% compared with the year before. In general, total imports indicated a pronounced increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked at X units in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, passenger car imports soared to $X in 2023. Over the period under review, total imports indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2023 and are likely to see steady growth in years to come.

Imports by Country

Turkey (X units), France (X units) and Spain (X units) were the main suppliers of passenger car imports to Morocco, with a combined X% share of total imports. Germany, the Czech Republic, Romania, India, South Korea, Slovakia, the UK, Italy, Poland and Hungary lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and the Czech Republic ($X) appeared to be the largest passenger car suppliers to Morocco, with a combined X% share of total imports. Spain, Turkey, the UK, Slovakia, Romania, India, Hungary, Italy, South Korea and Poland lagged somewhat behind, together comprising a further X%.

Hungary, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average passenger car import price amounted to $X per unit, rising by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform