The Moroccan automotive industry has a real potential for economic and technological development, which could lead in its wake to the development of other industrial sectors, with the return effect of boosting the pace of economic growth and its consolidation, says the Directorate of Studies and Financial Forecasts (DEPF), under the Ministry of Economy and Finance in a study.
This virtuous scheme would imply a permanent adaptation of this sector to the technological transformations at work and its corollary the consequent increase in its competitiveness to better face the pressures of increasingly intense competition, explains the DEPF.
With two major car manufacturers with a total capacity of 700,000 units, Morocco has reached a critical size that allows it to be in a better position to take advantage of the dynamics of relocation movements that are taking place worldwide.
New investments could lift the national automotive industry to new niches and bring new technologies and automotive expertise, says the DEPF.
The emergence of new types of vehicles, such as shared cars, electric cars and autonomous cars, is expected to change the demand for personal cars in developed markets. Preparing for this new demand pushes operators to make huge investments in innovation and advanced technology, and to engage in mergers and acquisitions in search of economies of scale and market share.
In this global context, the DEPF continues, Morocco, with its emerging automotive industry, should also anticipate the new conditions that will characterize automotive demand, particularly in Western European countries that constitute its main automotive export market. Entering the automotive businesses of tomorrow would be an indispensable condition for the survival of its local industry in the face of the expected tightening of operators’ profit margins and the preservation of its competitive advantages over its competitors.