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Morocco Autos Report Q2 2015

Morocco Autos Report Q2 2015

Moroccan new vehicle sales ended 2014 up by just over 1%, at 122,081 units, according to figures fromMorocco's Vehicle Importers Association (AIVAM), as cited by Les Ecos in January 2015. The local salesmarket had been looking set for a slight decline over 2014; however, December's 21.7% annual gain formonthly sales turned the net full-year result into a positive one.

Breaking down the headline figure, a total of 109,670 passenger cars were sold in Morocco, representing a1.4% increase year-on-year (y-o-y), while LCVs dropped back by 1.3%, to 12,411 units. Overall, the salesperformance marked a welcome stabilisation, following the sharp falls in sales seen over 2013.

Looking forward, BMI believes that 2015 should mark a positive year for new vehicle sales. We forecast a7.6% rise in total vehicle sales, to 131,325 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 thisyear, driven by improvements in the external sector and investment outlook. Both manufacturing exportsand tourism should continue to strengthen, benefiting from a slight uptick in eurozone economic activity aswell as growing diversification towards the Middle East and Africa. Overall, we forecast real GDP growthto rise to 4.0% in both 2015 and 2016 - in line with the average annual growth rate of 4.1% recordedbetween 2009 and 2013, and making Morocco one of the best performers in the Middle East & North Africaregion.

BMI Industry View
Industry Forecast
Production, Sales And Trade
Table: Autos Total Market - Historical Data And Forecasts (Morocco 2013-2019)
Passenger Vehicles
Table: Passenger Car Market - Historical Data And Forecasts (Morocco 2013-2019)
Table: Morocco - Top-Selling Manufacturers, 2014
Commercial Vehicles
Table: Commercial Vehicle Market - Historical Data And Forecasts (Morocco 2013-2019)
Macroeconomic Forecast
Table: BMI and Bloomberg Consensus Forecasts* - USD/BBL
Table: Various Countries - Real GDP Growth, %
Industry Risk Reward Ratings
Africa - Risk/Reward Index
Table: Sub-Saharan Africa Autos Risk/Reward Index
Company Profile
Company Monitor
Kia Motors Binomeir Group
Regional Overview
Africa Overview
South Africa: The Established Industry
Kenya: The Developing Hub
Nigeria: The Rising Star
The Current Picture
Global Industry Overview
Africa Still The Growth Driver
Oil Prices A Boon For Importers
Regulation Driving Innovation
Table: Fuel Economy Targets By Geography
SUVs To Be Segment Of Choice
Demographic Forecast
Demographic Outlook
Table: Population Headline Indicators (Morocco 1990-2025)
Table: Key Population Ratios (Morocco 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Morocco 1990-2025)
Table: Population By Age Group (Morocco 1990-2025)
Table: Population By Age Group % (Morocco 1990-2025)
Industry Forecasts
Sector-Specific Methodology
Risk/Reward Index Methodology
Table: Automotive Risk/Reward Index Indicators And Weighting Of Indicators

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