Casablanca – Auto Hall, a Moroccan company specializing in importing, distributing, and renting cars for individuals and businesses, has reported strong performance in the first quarter of 2024. The company’s consolidated revenue reached approximately $120.62 million, marking a 9.3% increase compared to the same period last year. This growth was fueled by a positive shift in the group’s product mix.

The Group’s sales totaled 4,465 units, marking a 4.4% increase over the first quarter of 2023. This performance is particularly notable given the overall decline in the national automotive market during the first quarter of 2024. The market saw a 3.1% decrease in total volume, falling to 35,680 units. This decline was primarily due to a 6% drop in passenger vehicle sales, partially offset by a 29% rise in light commercial vehicle sales.

In response to these market conditions, Auto Hall Group supported the transition of the national automotive market. The Group expanded its product lineup by launching a new fully electric model, the Chery EQ1. This model offers customers eco-friendly vehicles within a budget range of approximately $11,300 to $82,500.

Furthermore, Auto Hall organized the inaugural SAVE (Auto Hall Electric Vehicle Show) in Morocco, an event entirely dedicated to electric vehicles. This initiative underscores the Group’s commitment to sustainable mobility.

In addition to product expansion, Auto Hall also strengthened its distribution network by opening a new branch in Tifelt. This expansion is part of the Group’s broader development plan, which focuses on diversifying its vehicle offerings, strategically expanding its distribution network, and developing high value-added activities.

Looking ahead, these strategic initiatives are expected to enhance Auto Hall Group’s resilience against declining margins and confirm its growth trajectory in the ever-evolving automotive sector. The proactive management of the Group’s real estate assets further contributes to its development momentum and financial stability.

Auto Hall Group’s dynamic approach and commitment to innovation have positioned it well for continued success in a challenging market environment.