Key ViewWe believe that the vehicle sales market in the North African sub-region will be a global outperformer in 2019 and 2020, expanding 8.1% and 6.0% respectively. Furthermore, we expect Morocco's vehicle sales market will remain strong and stable in the sub-region, which will further improve the North African vehicle sales market. We forecast vehicle sales growth of 8.1% in 2019 and 6.0% in 2020 in the North African sub-region, significantly outperforming the global averages of 1.5% and 2.0% respectively (see chart below). Egyptian Vehicle Sales' Recovery On TrackEgypt - Vehicle Sales By Segment, Units % y-o-ye/f = Fitch Solutions estimate/forecast. Morocco To Add Stability To The North African RegionMorocco - Vehicle Sales by segment, Units y-o-y %f = Fitch Solutions forecast.

Source: The North Africa Journal February 13, 2019 00:22 UTC