Morocco becomes Africa's leading car producer

For the first time, the Kingdom surpasses South Africa, both in volume and value

Un empleado de fábrica trabaja en una línea de ensamblaje de automóviles en la planta de ensamblaje de automóviles Renault-Nissan Tanger en Melloussa, al este de la ciudad portuaria de Tánger - AFP/FADEL SENNA — A factory employee works on a car assembly line at the Renault-Nissan Tanger car assembly plant in Melloussa, east of the port city of Tangier - AFP/FADEL SENNA

16/08/24

According to figures from L'Economiste, Morocco has set a new record for exports of vehicles and automotive components manufactured in the Kingdom in 2024. This data has been confirmed by the Foreign Exchange Office, which notes that exports from the automotive industry rose by 9% year-on-year during the first six months of the year to reach 80.54 billion dirhams. During 2023, the automotive sector achieved an increase of around 28% to 141.76 billion dirhams.

Automóviles fabricados en Marruecos y destinados a la exportación esperan ser embarcados en el puerto de Tanger Med - REUTERS/ ABDELHAK BALHAKI — Cars made in Morocco and destined for export await loading at the port of Tangier Med - REUTERS/ ABDELHAK BALHAKI

Thus, for the first time, Morocco is definitively positioned as Africa's leading automobile producer, well ahead of South Africa, both in volume and value. "This year, the Moroccan industrial sector is expected to produce more than 610,000 units, 90% of which will be destined for export, with an installed capacity of 1 million cars," writes the Moroccan newspaper.

Moreover, a recent study by the Moroccan Economic Centre (CMC) highlights the key role the Kingdom currently plays in the global automotive industry. The North African nation is one of the main suppliers to the European market. Furthermore, according to the CMC, the recent development of the electric vehicle (EV) battery segment represents a great opportunity to achieve continental leadership in this ever-changing sector.

Línea de ensamblaje de automóviles en la planta de ensamblaje de automóviles Renault-Nissan Tanger - AFP/FADEL SENNA — Car assembly line at the Renault-Nissan Tanger car assembly plant - AFP/FADEL SENNA

Morocco has launched a number of key strategic projects in recent years and has attracted numerous international investments to develop the promising electric battery sector. This development of electric batteries comes amidst a drive for energy transition and economic diversification marked by the authorities' desire to promote renewable energies and reduce the carbon footprint of the industrial sector.

Tags:

Morocco Economy Morocco