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Rabat – Morocco is currently the largest market for French multinational car manufacturer Renault Group, with over 14,000 units sold in the first quarter of 2023.
According to the company’s quarterly financial statement, Renault Group holds a staggering 38% market share in Morocco. The country also appears on the list of the 15 markets in the world for the French group at 11th place.
Renault Group’s overall sales at the end of the first quarter of 2023 totaled 535,000 units, a year-on-year increase of 14%. In Europe, the group’s sales increased by 27%.
Commenting on the positive results, Chief Financial Officer of Renault Group Thierry Pieton said that the group “is off to a solid start in the year with a 30% increase in the first quarter revenue, supported by strong pricing and product mix effects.”
Pieton further added that the group pursues its commercial policy by optimizing its prices and commercial discounts, and focusing on the most profitable channels.
“It also benefits from the first successes of its renewed line-up with Arkana, Megane E-TECH Electric and Austral for the Renault brand and Dacia Jogger.”
In addition to the impressive sales records in Morocco, the group has been operating a large manufacturing plant in Tangier since 2012. In 2017, they celebrated the production of the millionth vehicle at the Renault-Nissan plant in Tangier.
In March, the group announced plans to manufacture its first hybrid model, the Dacia Jogger, in its Tangier plant in northern Morocco in the second quarter of 2024.
The new production line is expected to produce up to 120,000 units and marks a precedent for Morocco in the manufacturing of hybrid cars. Converging reports indicate that the production is set to use thirty robots for the assembly operations.
Read Also: Dacia to Manufacture Its First Hybrid Car in Morocco
