Luxury Car Sales Surge 15% in Morocco, Defying Economic Headwinds

12 January 2024 – bySaid@Bladi · 1 min read

Sales of new luxury cars in Morocco increased by 15% last year, despite the impact of the market by a drop in demand due to inflation, higher financing costs and rising prices of various brands.

Thus, some 15,535 luxury cars were sold. Audi stood out as the leader, capturing nearly a third of the luxury car market in Morocco. It is closely followed by other major brands such as BMW, Mercedes Benz, Volvo and Jeep, according to information from the Association of Automotive Vehicle Importers in Morocco (AIVAM).

These luxury car sales represent 10.7% of the country’s total automotive market, which accounts for around 161,000 vehicles, marking a slight 0.1% year-on-year increase.

Weak demand, influenced by inflation and rising car prices, as well as rising fuel prices and tighter financing conditions, are among the main reasons that have hampered growth in sales in the country.

Category: Economy

Keywords:

Automobile