Casablanca – Morocco has solidified its position as a leading player in the Arab automotive industry, ranking among the top five most attractive countries for investment in the sector in 2024. This recognition comes from Dhaman, the Arab Investment Guarantee and Export Credit Organization, which released its fourth sectoral report highlighting the region’s automotive developments.
Morocco among top 5 investment destinations
The Kingdom, alongside Saudi Arabia, the United Arab Emirates, Algeria, and Egypt, accounted for 79% of all foreign automotive projects in the Arab world. These five countries attracted a total of 145 projects, with cumulative investments surpassing $21.5 billion, representing 89% of the total investments in the sector. Morocco’s competitive edge stems from its strategic geographic location, skilled labor force, and robust infrastructure tailored to the automotive industry.
Leading job creator
Morocco also made significant strides in job creation. Of the more than 91,000 jobs generated by automotive projects in the Arab world, 89% were attributed to the top five countries, with Morocco playing a pivotal role. Notably, Chinese investments in the region contributed significantly, with 27 projects valued at $8 billion creating 20,000 jobs. This highlights Morocco’s ability to attract diverse foreign investments.
Renault Group Morocco: A success story
Renault Group Morocco had an outstanding year, producing 413,614 vehicles in 2024. An impressive 90% of these vehicles were exported to 89 countries, demonstrating Morocco’s strength as a global export hub. Locally, Renault sold 67,679 vehicles, securing a dominant market share of 38.4%.
This industrial growth aligns with Morocco’s broader vision to position itself as a leading automotive manufacturing hub in the region. The success of Renault Group Morocco underscores the effectiveness of government policies and incentives aimed at fostering industrial development and attracting global players.
Automotive sales on the rise
In addition to its investment success, Morocco’s automotive market ranked among the top five in the Arab world for vehicle sales. The group, which includes Saudi Arabia, the UAE, Kuwait, Algeria, and Morocco, represented approximately 75% of the estimated 1.8 million vehicles sold across the region in 2024. This figure reflects a 4.5% increase compared to 2023.
Within the group, Saudi Arabia led with a 45% market share. Morocco recorded 176,401 vehicle sales in 2024, marking a 9.22% year-on-year increase. However, this growth fell just short of the historic 2018 sales record of 177,400 vehicles.
Growth in electrified vehicles
A notable trend in the Moroccan market has been the rise of electrified vehicles. According to data from the Moroccan Association of Vehicle Importers (AIVAM), this segment experienced robust growth, reflecting Morocco’s commitment to sustainable mobility. The country’s push toward greener transportation aligns with global trends and positions it as a forward-thinking leader in the region.
A bright future for Morocco’s automotive industry
As Morocco continues to strengthen its foothold in the automotive sector, its inclusion in Dhaman’s top five rankings highlights the country’s success in attracting investments, boosting exports, and driving industrial growth. With its strategic initiatives, Morocco is well-positioned to maintain its upward trajectory in the Arab and global automotive markets.
