Auto Nejma Maroc closed the first nine months of 2024 with a turnover of 1.94 billion dirhams, marking a significant 22% increase from 1.59 billion dirhams during the same period in 2023.
Sales volumes rose by 20.5% across all segments in the third quarter of 2024 compared to the same period the previous year. The company attributes this growth to multiple factors, including a resurgence in the Light Utility Vehicle (LUV) segment. Renewed demand in the tourist and personnel transport sectors played a significant role, along with the successful sales performance of the BYD brand, which sold 149 units in Q3 2024 compared to just 16 units in 2023.
Heavy Truck (HT) sales also showed impressive results, fueled by the company’s expansion into new markets.
Investment for the period reached 37.85 million dirhams, primarily directed toward the construction of the Agadir branch and the completion of dedicated showrooms for the BYD brand. These efforts underscore Auto Nejma’s commitment to infrastructure development and brand promotion.
Despite these successes, net cash flow registered a negative balance of 310 million dirhams by the end of Q3 2024, a stark contrast to the 7.67 million dirhams positive cash flow recorded at the end of 2023. This drop is attributed to the normalization of vehicle stock levels, which had previously been constrained.
Auto Nejma Maroc continues its expansion by broadening the BYD lineup and introducing hybrid models to the market. Looking ahead, the company plans to sustain its investment strategy by modernizing existing outlets and extending its sales network to support the growing portfolio of brands across Morocco.
This strategy reflects Auto Nejma Maroc’s dedication to driving growth through innovation, infrastructure development, and the capture of new market opportunities, paving the way for continued success in the Moroccan automotive sector.
