First Independent Mena Newspaper
Morocco keeps attracting global car parts manufacturers thanks to the infrastructure and business climate it offers. Yazaki is one of the Japanese car part manufacturers who grabbed the investment opportunities offered by Morocco as a platform for exports to Europe and Africa. The company, which opened its first Moroccan plant in Tangier in 2000, is […]
Morocco’s automotive sector exports doubled from 161 billion dirhams in 2013 to 240 billion dirhams in 2018, thus becoming Morocco’s leading exporting sector ahead of phosphates and agriculture. With more than 65.1 billion dirhams worth of exports, the automotive sector came ahead of phosphates and derivatives (43.4 billion dirhams), textile (38.6 billion dirhams) food industry […]
One dirham in two received out of industrial exports are generated by the car industry sector which topped Morocco’s industrial exports in 2018 taking 44.5%. The sector employs 85,00 people as the automotive sector’s clusters continue to expand pushing car exports above phosphates and tourism revenues. These achievements are all thanks to the industrial acceleration […]
Morocco’s improving economic performance in 2019 and 2020 will provide a solid structure to motivate both businesses and consumers to purchase new vehicles, says Fitch Solutions Foundation. “We believe that Morocco’s expansionary fiscal policy will further support the demand for vehicles”, adds the Fitch Think-Thank, noting that the availability of locally produced vehicles, such as […]
French carmaker Renault topped the podium of car sales in Morocco with a market share of 42% in 2018, that is 75.418 cars. A report by Renault said that Morocco remains the main market for the group where it has production plants in Tangier and Casablanca. Last October, Renault said it will bring up its […]
Thierry Bollore who was appointed Renault’s interim leader after the arrest of the company’s chairman in Japan reassured Moroccan suppliers about the stability of the groups activity. Bollore stressed in a message to Renault suppliers across the globe including Morocco that Renault will maintain its industrial and commercial activities steady in this period. Carlos Ghosn, […]
King Mohammed VI who is following up with keen interest the evolution of the booming automotive industry in Morocco was briefed Thursday on the extension project of the Moroccan Society of Automotive Construction (SOMACA), which is planning to double its production capacity by 2022. The plan was unveiled by Minister of Industry, Investment, Trade and […]
Japanese automotive supplier JTEKT has launched the construction works of a plant to produce electric power steering systems. The plant, the Japanese group’s first in the MENA region, is located in Tangier. With an initial investment of $22 million, the factory aims to reach an initial production capacity of 300,000 units a year when it […]
Cars dominated Morocco’s exports in the first six months of 2018 with 35.973 billion Dirhams, as the country continues to attract automotive investments. Home to investments by French giants such as Renault and Peugeot, Morocco unseated South Africa as the largest car producer in the continent. Car exports, a valuable source of foreign currency for […]
Spanish car parts maker, Ficosa, will start operating its Moroccan plant specializing in producing in-vehicle cameras on March 20, the company said. The Catalonia-based Ficosa, which has been sold to Japan’s Panasonic last July, has completed the plant for a total cost of €30 million. The plant, which will offer 800 direct jobs by 2020, […]