(MENAFN – Morocco World News) Rabat – After a year of record sales in 2017, the Moroccan automotive market is seeing a slight decline in sales in its early-year performance.
According to monthly statistics published by the Association of Importers of Vehicles in Morocco (AIVAM), only 25,860 vehicles were sold in February 2018 compared to 26,578 vehicles sold in the same period of last year, down by 2.7 percent.
The passenger cars sector (VP) fell by 1.2 percent as sales reached 24,171 units at the end of February 2018 against 24,464 units sold last year.
As for light commercial vehicles (LCVs), statistics revealed a noticeable decline of 20.1 percent, equivalent to 1.682 units sold in 2018 against 2.114 vehicles sold over the same period in 2017.
AVIAM statistics add that the sector of imported cars (CBU) registered a decrease in sales, down by 1.89 percent. Only 22,058 units were sold in February 2018 against 22,482 vehicles sold last year.
According to AVIAM’s study, the top five highest-selling car brands are Dacia, Renault, Ford, Hyundai, and Peugeot. Dacia is the market’s favorite, with 7.799 vehicles sold, marking an increase of 4.2 percent compared to the end of February 2017.
The fifth place went to Peugeot with 1,382 vehicles sold, down by 15.32 percent over the same period last year.
Despite the slow start of this season, the Moroccan automotive market continues to lead the way in the MENA region as the best performer in BMI Research Group’s Autos Production Risk/Reward Index, due to the Kingdom’s strong production growth outlook, low labor costs, and favorable industry policy.
With an overall Autos Production RRI score of 48.9 out of 100, BMI ranked the Moroccan automotive industry as the most attractive market in the MENA region for production opportunities.
One of the other main factors making Morocco’s automotive industry attractive to foreign investors is its average labor cost, rated 89.1 points out of 100.
In addition to the low labor prices, the Kingdom’s industry policy and the government’s efforts to develop this division also play a key role in luring more manufacturers to invest in the country.