Casablanca – The Moroccan automotive industry has continued its upward trajectory, showing strong recovery and growth in September 2024. The market recorded 14,398 vehicle deliveries, reflecting a 22.57% increase compared to the same month in 2023, when 11,747 units were sold. This resurgence is being hailed as a sign of recovery following the economic disruptions of 2023.

Passenger vehicles drive growth 

The passenger vehicle (PV) segment played a key role in this market expansion. A total of 12,684 PV units were sold in September 2024, representing a significant 24.97% rise from the previous year. This surge is attributed to growing consumer confidence, spurred by attractive dealer promotions and a stabilizing economy.

Moderate rise in light commercial vehicles

In the light commercial vehicle (LCV) segment, growth was more moderate but still noteworthy, with a 7.33% increase. A total of 1,714 units were sold in September 2024, compared to 1,597 in the same month last year. Although the LCV segment is typically more sensitive to economic shifts and business decisions, the steady rise signals resilience in the small and medium-sized business sector.

Post-earthquake recovery boosts market 

September’s growth is partly due to a favorable base effect. The tragic Haouz earthquake, which struck in early September 2023, had severely impacted economic activity, including vehicle sales. With a less disrupted environment in 2024, the automotive market has bounced back significantly, driven by renewed consumer interest and a more favorable economic climate.

Year-to-date performance

From January to September 2024, total vehicle sales reached 122,950 units, marking a 4.72% increase over the same period in 2023, when 117,409 units were sold. Passenger vehicles continue to dominate the market, with 109,848 units registered so far this year, representing a 3.51% growth. The light commercial vehicle segment has performed even better, with a 16.10% increase, reaching 13,102 units.

Outlook for the remainder of 2024

As Morocco’s economy continues to stabilize, the automotive sector is expected to maintain its growth trajectory through the final quarter of the year. The arrival of new brands, particularly from China, coupled with a stable economic outlook, suggests a strong finish for the Moroccan automotive market in 2024.

While the passenger vehicle segment remains the primary driver of growth, light commercial vehicles are also contributing positively, offering a sign of optimism for both consumer and business confidence across the country.