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Follow on Google News | New market study, "Morocco Autos Report Q3 2011", has been publishedFast Market Research recommends "Morocco Autos Report Q3 2011" from Business Monitor International, now available
However, it seems to be a different story in 2011, with new car sales up by just under 10% over the first quarter, at 23,130 units. BMI had already believed that there was a strong chance that 2011 could see a turnaround in the performance of the Moroccan new car market and this is now being evidenced by the monthly data. ------------------------------------------------------------ Full Report Details at - http://www.fastmr.com/ ------------------------------------------------------------ According to the AIVAM, there was a 15% increase in the number of imported cars sold over Q111, while those produced locally suffered a slight annual decline. Given this highly positive start to the year, and with our macroeconomic team estimating that Morocco's economy will grow 4.2% in 2011, we maintain our forecast for a 3% increase in new car sales this year, but now feel that there could be a chance of an upwards revision to this forecast later in 2011. Beyond the current year, much will depend on the durability of economic growth in Morocco and also whether calls for greater democracy will lead to civil unrest of a type seen in Libya and Egypt. For now, we are forecasting a gradual 4% increase in new car sales over the remainder of our forecast period to 2015. No final full-year data on Moroccan vehicle production was available as this report went to press. However, local vehicle production from the Renault-owned Somaca facility has been estimated at 42,000 units for the year, according to local media reports. In Q410, it was also reported that PSA Peugeot Citroen was to stop local production of its Partner and Berlingo LCVs at the Somaca facility, effective December 2010, when its current contract ended. This development may lead to 2011 production figures coming in lower than we currently anticipate. However, this short-term drop in production will not last long, with Moroccan auto output to be given a significant boost once Renault's Tangier Mediterranee plant opens in 2012. Indeed, the impact of the new plant will increase the amount of Moroccan auto production by a factor of 10, with output set to be well above 450,000 units per annum by 2015. In 2010, Dacia, a subsidiary of Renault, remained the top-selling car manufacturer in Morocco. The company sold 16,670 locally produced cars and 1,360 imported cars over the year, for a total of 18,030 cars and a market share of 17.5%. In second place is parent company Renault, which sold 10,369 locally produced cars and 6,488 imported cars, for a total of 16,857 cars (16.3% market share). Together, the two companies boast a market share of 33.8%. In 2010, Peugeot led the way in terms of imported new cars sold within Morocco, on 7,524 units. This represented a market share of 12.19%. Peugeot's most popular imported model was the 206+. Behind Peugeot was Renault, which sold 6,488 imported cars for a market share of 10.5%. Renault's most popular imported model was the Megane. In third place was Hyundai Motor, which sold 5,537 units for a market share of just under 9%, closely followed by Kia Motors on 5,518 units (for a market share of 8.9%). Kia experienced a 21.8% y-o-y fall in new car sales. Rounding out the top five was Volkswagen, which sold 5,319 units, a 17.8% y-o-y increase, for a market share of 8.6%. The rest of the top 10 best-selling imported brands in Morocco in 2010 were Ford Motor (on 4,740 units sold), Citroen (3,344), Fiat (2,802), Toyota Motor (2,752) and Suzuki Motor (1.899). Report Table of Contents: SWOT Analysis - Morocco Auto Industry SWOT - Regional Overview - Trade Data Confirms Regional Potential For Suppliers Business Environment Ratings - Table: Middle East And Africa Business Environment Ratings Macroeconomic Forecast Scenario - Table: Morocco - Economic Activity Industry Forecast Scenario - Sales - Table: Morocco Automotives Sales 2007-2015 - Production - Table: Morocco Automotives Production 2007-2015 - Trade Competitive Landscape Market Overview - Locally Produced Vehicles - Table: Morocco - Top 10 Locally Produced Vehicle Sales, 2010 - Imported Vehicles - Table: Morocco - Top 10 Imported Vehicles 2010 - Luxury Vehicles - Table: Morocco - Top 10 Imported Vehicle Sales, Jan-Jul 2010 - Suppliers Company Monitor SUV Demand Drives Chevrolet's Regional Growth Company Profiles - Kia Motors Maroc - Renault Morocco - Toyota otor BMI Methodology - How We Generate Our Forecasting Model - Sources About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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