Moroccan Car Sales Surge in July, Signaling Economic Optimism
Casablanca, Morocco – The Moroccan automotive market is showing strong signs of life, with new car sales experiencing a significant upswing. According to the latest figures released by the Moroccan Association of Vehicle Importers (AIVAM), sales figures for July 2024 paint a positive picture for the industry.
July saw a remarkable 8.42% increase in sales compared to the same period last year, with a total of 14,219 new vehicles hitting the road. This surge was fueled by a growing appetite for both passenger cars and SUVs, which saw increases of 5.15% and a whopping 46.53% respectively.
This positive trend isn’t limited to July alone. The year-to-date figures (January to July 2024) reveal a 2.08% overall increase in sales compared to the same period in 2023, reaching a total of 96,505 units sold.
Several factors could be contributing to this upward trajectory. Improved economic conditions, increased consumer confidence, and attractive financing options are likely playing a role. Additionally, the growing popularity of SUVs, particularly in emerging markets like Morocco, is a global trend that’s clearly reflected in these figures.
Key Takeaways:
July 2024 saw an 8.42% year-on-year increase in new car sales in Morocco.
Passenger car sales rose by 5.15%, while SUV sales surged by 46.53%.
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