Moroccan Auto Market is collapsing under the weight of Covid19 restrictions losing 86% in April and 83% in May 2020. The country struggles on fighting the virus effects and the huge economic crisis is clearly represented by the lackness of demand for new vehicles.
Post Covid19 Market Trend
Said this, a new era started in March for the entire World, due to the Coronavirus outbreak.
Indeed, in order to slow down the spread of the virus, on 13 March the government decided to shut down all schools, while two days later all international flights were suspended. Moreover, a state of medical emergency was declared on March 19, requiring the authorization of local state officials for citizens to leave their home, while making exceptions for workers at supermarkets, pharmacies, banks, gas stations, medical clinics, telecommunications companies, and essential freelance jobs.
As a result, the market in the first quarter ended at 32.138 (-13.8%).
However, the full shutdown arrived in April, when sales fell down 86%, and in May (-82.7%) with the Year to Date sales at 35.574 (-43.7%).
Medium Terms Market Trend
Morocco Vehicles Market in recent years is one of the best in the entire African continent. Based on economic and political stability, the industry is skyrocketing thanks to the Automotive National Plan introduced few years ago, with a clear and substantial incentive in support to attract international investors to develop and produce vehicles locally. Renault, the first investor acting in the country, is improving local plant capacity and actually export in near 70 markets, while PSA is opening the first plant in the country.
Following four years of growth, the domestic light vehicles market established in 2018 the third all-time record in a string with 173.980 units. However, in 2019 the trend changed and due to lower demand and slow economic growth, ending the year at 142.974 units, down 8.9% from the previous year.
In the first two months of 2020, the market was reporting a double-digit growth, with Year to Date February sales at 25.604 (+13.1%).
Tables with sales figures
In the tables below we report sales for top 10 Brands: