The export turnover in the automotive sector reached MAD 66.7 billion at the end of August 2022, up compared to MAD 51.58 billion for the same period in 2021.
The sector reached a growth of 29.3%, according to the 2023 Finance bill.
Despite the crisis, exports of the automotive sector continued to increase to reach MAD 83.54 billion in 2021, an increase of 15.6% compared to 2020, while Morocco is now the first exporter of cars to the European Union, added the same source.
The automotive industry has strengthened its position in the global automotive value chain, with an annual production capacity of 700,000 vehicles, driven by the manufacturers Renault and Stellantis, exceeding the target set for 2020, of 600,000 vehicles, specified the same source.
Morocco has become the second largest car producer in Africa, after South Africa, said the same source.
Cars produced in Morocco are destined for more than 74 destinations worldwide, while the local integration rate of the automotive industry reached 63%.
The sector created 180,000 jobs since 2014 and has over 250 national and international equipment suppliers and manufacturers.
During the first half of 2022, Stellantis launched the 225 Citroën AMI on 14 June 2022.
Stellantis produced 95,442 vehicles from the Peugeot 208 range and 10,866 vehicles from the O2X range by the end of August 2021.
The production of Renault reached 232,643 units for its two factories at the end of August 2022, according to the same source.
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