Morocco’s improving economic performance in 2019 and 2020 will provide a solid structure to motivate both businesses and consumers to purchase new vehicles, says Fitch Solutions Foundation. “We maintain our forecast that total vehicle sales in Morocco will expand by 4.3 pc in 2019 and 4.8 pc in 2020, followed by an annual average growth rate of 4.7 pc over the remainder of our 2019-2028 forecast period”, stresses the study. They also forecast passenger vehicle sales to expand by 4.0 pc and light commercial vehicle sales to increase by 8.0 pc, noting that demand for vehicles from both businesses and consumers will remain robustExisting vehicle producers in the country are doubling down on their local production. PSA and Renault are both looking to double their production capacity by 2020 and 2022 respectively. This will not only support robust economic growth over the forecast period, but also continue to maintain a steady supply of locally produced vehicles.

Source: The North Africa Journal February 14, 2019 12:56 UTC