Morocco Surpasses South Africa’s Car Production

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Rabat- Morocco produced 345,000 passenger vehicles in 2017, overtaking South Africa, which produced 331,000, as the leader of the automotive industry in Africa, according to an annual business report conducted by IOL.

The report states that South Africa, traditionally the continent’s leading car-producing country, is intimidated by Morocco’s growing production capacity in the automotive sector. Executive manager of the National Association of Automobile Manufacturers of South Africa (Naamsa) and Automotive Industry Export Council Norman Lamprecht believes the kingdom’s proximity to Europe allows it to focus northward, posing a threat to South Africa’s automotive industry.

Regardless, South Africa’s automotive industry continues to strengthen globally; the report asserts South Africa’s total automotive export sales garnered USD 13.4 billion (R 164.9 billion) in 2017, representing 14 percent of total South African exports.

Morocco is optimistic about its achievements, as Minister of Industry, Trade, Investment, and Digital Economy Moulay Hafid Elalamy recently predicted the kingdom will exceed MAD 100 billion in export sales by 2020 and further make MAD 200 billion in exports with a production capacity of one million vehicles by 2025.

Morocco’s automotive industry registered a turnover of MAD 70 billion in 2017, compared to MAD 40 billion in 2014, making it an immensely attractive investment destination for many of the world’s leading car manufacturers such as Renault and PSA Peugeot Citroën.

Continue at: https://www.moroccoworldnews.com/2018/05/246127/morocco-surpasses-south-africas-car-production/

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