Fiat-Morocco sales $22 million in 2000
The Italy–based Fiat automobile company has reported that its Morocco subsidiary manufacturing line, Fiat-Morocco, has exported $220-million worth of locally assembled cars and spare parts to neighboring countries in North Africa in 2000.
According to the Al-Hayat daily, Fiat-Morocco sold 9,559 cars in the local market last year, most of which were Balio and Siana models.
The chairman of Fiat Morocco said that the company had established 40 manufacturing units in 1995, in cooperation with several Moroccan companies. The Italians invested 2.250 billion Moroccan dirhams ($250 million) in these joint ventures.
Nonetheless, the Fiat Morocco chairman noted that it is difficult for the company to expand operations and sales in Morocco, because of the domestic market’s limited size and strong competition from other countries in North Africa. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)