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Automotive Industry: Approaching Record Exports in 2016
09/28/2016 - Général

According to the figures published by the Office des Changes, towards the end of July this year, exports in the sector had already grown 18% to reach 32 billion MAD compared with the same period in 2015. In 2016, the automotive industry is set, once again, to beat its own record for annual exports. The momentum in exports for the first seven months of the year has only served to confirm forecasts. This performance is primarily due to growth in sales of “automobile construction” (mainly through the Renault group), reaching 17.2 billion MAD compared to 13.3 billion MAD towards the end of July 2015.

As for car wiring, exports saw an increase of 5% to touch 12 billion MAD. The top management at the Office des Changes emphasised that “The automotive industry’s share of total exports reached 29.4% compares to 21.3% the year before and 19.5% at the end of July 2014”. As a result, the sector continues to manifest good performance and holds first place for exports. If it continues at this rate, the sector will easily be able to reach the objectives found in the contract-program signed with the State that hopes to have an export turnover of 100 billion MAD by 2020.

Let’s not forget that the automotive industry is at the start of a new development phase. The sector will be strengthened by the PSA Peugeot Citroën industrial project that this year hopes to begin building a factory in the area of Ameur Seflia, near Kenitra, which by 2019 will assemble motors and vehicles for segments B & C. The site, which will require a total investment of 557 million Euros (6 Billion MAD), initially aims to produce 90,000 vehicles with capacity soon reaching 200,000 units and an 80% rate of integration. What’s more, a partnership was signed this April between the State and the French group Renault with the goal of launching a new project in Morocco. This will involve bringing together, around the manufacturer, a network of suppliers to establishing a strong, high-performance ecosystem that will promote added value and better integration in the car production chain. This well-structured ecosystem will represent an international platform to supply the Group’s site in Tangier and other sites around the world.

Source: Le Matin