A-ZeD:

Stallion motors have been in Nigeria for how many years now. Do you know anybody that has bought a brand new car from them?

Brand new cars are not cheap anywhere in the world and most countries have a credit system which Nigeria doesn't have.

The policy is stupid.

SLIDE waxie: solomon, shey u now see say not all Solomon are wise?

When u banned a car with a moderate price for the common man and start assembling one sold for millions!

Dem tell u and ur mumu president say na everyone dey work for oil company, multinationals, or na all of us dey do bank robbery, abi we be politician or businessman like dangotte with the hand of govt?

And worst still, no credible credit system facility

Even for abroad sef, dem get used car!

U and ur president are moronic in nature and without foresight!

Why una no come dey assemble rolls royce? Abi Cadillac?

solomon111: Like someone said before,the ban which will be later in the future will affect only foreign made used cars.
Those foreign made used cars will be replaced with Nigerian-made used cars.

adconline:
The same Stallion group owned by Vaswani brothers that was charged for Tax evasion. NAFDAC accused them of selling expired/adulterated products.
The same company that bought Volkswagen Nigeria and converted it to a bonded terminal for rice, fish and oil products, is now saying that it's about producing cars.
Are we talking about assembly or manufacturing?
How many drive train parts are they making? Any chance of making power train?
Before you run, you have to crawl first. MOUs are nothing if there are no govt investments in power and infrastructure.
http://www.thisdaylive.com/articles/why-volkswagen-was-converted-to-warehouse/98837/

VULCAN: Its obvious most people are missing the point. The only people who will buy these brand new cars.....are the people who are ALREADY buying brand new cars.

Don't know why that is so hard for some to fathom.

And the possibilities of these cars being significantly cheaper than the current brand new is very slim due to cost of producing power and the Nigerian factor.

The beneficiaries of these car plants will be the poorly paid assembly workers, the mid level managers and the shareholders in these plants. All numbering less than 50,000. Add their dependants and the number rises to 300,000

But what of the millions who will no longer be able to afford a fairly used car?

Can anyone answer me pls.

mikeansy:

No car has been assembled in Nigeria yet!

taharqa: So what is going to happen to fairly used cars??

SLIDE waxie: solomon, shey u now see say not all Solomon are wise?

When u banned a car with a moderate price for the common man and start assembling one sold for millions!

Dem tell u and ur mumu president say na everyone dey work for oil company, multinationals, or na all of us dey do bank robbery, abi we be politician or businessman like dangotte with the hand of govt?

And worst still, no credible credit system facility

Even for abroad sef, dem get used car!

U and ur president are moronic in nature and without foresight!

Why una no come dey assemble rolls royce? Abi Cadillac?

A-ZeD:

Stallion motors have been in Nigeria for how many years now. Do you know anybody that has bought a brand new car from them?

Brand new cars are not cheap anywhere in the world and most countries have a credit system which Nigeria doesn't have.

The policy is stupid.

2ndOGA: Hmm, Scrambling for positions ahead of the "proposed" Used car import ban innit?

It is well.

seun001:

Thank you.
How many Nigerians purchase new cars?
How many Nigerians change their new cars every 5 years?

Or
How many Nigerians change their tokunbo cars for New cars?
How many Nigerians change their tokunbo cars every 5 years?

Currently, How many new cars are purchased in Nigeria by individuals after deducting company purchases and public officials?

Arysexy: Yorubas on NL are d most s.illy beings I av ever encounterd.

Omooba77:

If cars are assembled in Nigeria; there will be facilities to purchase new cars.........................

awodman:
The automotive policy is not about "new cars"..we are talking about reducing capital flight, reducing unemployment , boosting our local technology, amidst other things

awodman:
The automotive policy is not about "new cars"..we are talking about reducing capital flight, reducing unemployment , boosting our local technology, amidst other things

usmolad: it means onisha, calabar, ph are no man's land till nigeria divide

tatiana009: Lmao, Lagos is no man's land abi?Yet the only festival recognised by Lagos State is a Yoruba Festival and Yorubas will continue to rule the state. Keep deceiving yourselves.

hercules07:

Where will the facilities come from, heaven? The banks are not going to loan anybody money to buy cars, do you think they are silly? Banks are even reluctant to loan money to business people, it is is a car that does not bring in money they will now concentrate on. We needed to sanitise the spare parts market (manufacture spares under license from OEMs) and educate the mechanics who work on our cars, if we can fix that area, we keep local jobs while adding quality to the used cars imported into the country, our leaders keep
aking policies that will benefit a few and not the majority.

hercules07:

Where will the facilities come from, heaven? The banks are not going to loan anybody money to buy cars, do you think they are silly? Banks are even reluctant to loan money to business people, it is is a car that does not bring in money they will now concentrate on. We needed to sanitise the spare parts market (manufacture spares under license from OEMs) and educate the mechanics who work on our cars, if we can fix that area, we keep local jobs while adding quality to the used cars imported into the country, our leaders keep making policies that will benefit a few and not the majority.

seun001:

Let's say u obtained a loan to purchase a car for 1.5M tenured 3 years (36 months)
Interest is @ 24% making it 30k interest payment in the first month.
Principal repayment - 41,666 monthly
Therefore total monthly repayment is 71,666

Dsr is 33.33%. Therefore,ur income monthly to enable you obtain ds loan should be nothing less than 215000 after tax.

How many Nigerians earn this amount?
And this is just eligibility to obtain the loan without considering any other variable/assessments.

jp philips: Nigeria has no business manufacturing cars, we have a lot of area of competitive advantage better than other countries.
As a car manufacturing nation, we cant compete with the Europeans and Asian tigers, that is a fact so why bother ourselves, even America with their level of industrialization is not finding the Japanese competition funny let alone Nigeria.
Innoson can export to Ghana and equally sell to individuals or corporate bodies who are interested, it doesn't call for Govt intervention.

If we really wanna industrialize, we should look at areas where we already have competitive advantage and consolidate on it, Nigeria is sitting on enormous gas reserves have we explored them?

Have we looked at areas of refining where we can export refined products and all west African countries come to us to purchase petroleum products?
What about petrochemical industries? Nigeria has the capacity to produce synthetic tannin, gums, resin, imidazole, plastic (of whichever kind), cellophane, benzene, etc for the whole of Africa, have we looked into those areas?

have we built local capacity in those regards? so what are we manufacturing or assembling cars for? if all these sectors are developed, we are gonna be getting loads of foreign exchange and we are gonna be better off.

chronique: I wonder why most people are complaining about govt's decision to increase the tariff on imported vehicles. Incase most of you do not know,the cars you guys see as affordable for the masses,are mostly junks(flooded/salvaged/accidented vehicles) shipped in by most importers. A lot of Nigerians can't afford clean title cars being brought into the country. Secondly,manufacturing cars here,would take away at least,350-400k(minimal cost of shipping and clearing) from the cost of purchase. Some parts will be produced here,thereby saving us foreign exchange that would have been spent on importing them. Cost of labour here,would be cheaper than what would be paid for labour cost,in a manufacturing plant in the U.S. By the time you take out the cost of shipping and clearing,the amount saved on foreign exchange from importing several parts that can be made here,and then,deducting what you'd save from cheap labour,you'd understand that it's a win-win case for us. At the long run,you get more value from ur brand new cars than your tokunbo. There are some cars in the market that if you deduct their shipping and clearing charges,they'd amount to 200k-400k. If the price of a brand new one is twice/thrice the amount of a tokunbo(after deducting clearing and shipping charges),it means Nigerians "might" be able to get brand new cars between the ranges of 400k/600k - 800k/1.2m,depending on the quality/class of car you need.

For me,I think it's still a win-win situation for Nigerians.

chronique: I wonder why most people are complaining about govt's decision to increase the tariff on imported vehicles. Incase most of you do not know,the cars you guys see as affordable for the masses,are mostly junks(flooded/salvaged/accidented vehicles) shipped in by most importers. A lot of Nigerians can't afford clean title cars being brought into the country. Secondly,manufacturing cars here,would take away at least,350-400k(minimal cost of shipping and clearing) from the cost of purchase. Some parts will be produced here,thereby saving us foreign exchange that would have been spent on importing them. Cost of labour here,would be cheaper than what would be paid for labour cost,in a manufacturing plant in the U.S. By the time you take out the cost of shipping and clearing,the amount saved on foreign exchange from importing several parts that can be made here,and then,deducting what you'd save from cheap labour,you'd understand that it's a win-win case for us. At the long run,you get more value from ur brand new cars than your tokunbo. There are some cars in the market that if you deduct their shipping and clearing charges,they'd amount to 200k-400k. If the price of a brand new one is twice/thrice the amount of a tokunbo(after deducting clearing and shipping charges),it means Nigerians "might" be able to get brand new cars between the ranges of 400k/600k - 800k/1.2m,depending on the quality/class of car you need.

For me,I think it's still a win-win situation for Nigerians.

hunter2,1:

We do not need to be an automobile giant, we should at least have a foothold and be self sufficient

seun001:

Let's say u obtained a loan to purchase a car for 1.5M tenured 3 years (36 months)
Interest is @ 24% making it 30k interest payment in the first month.
Principal repayment - 41,666 monthly
Therefore total monthly repayment is 71,666

Dsr is 33.33%. Therefore,ur income monthly to enable you obtain ds loan should be nothing less than 215000 after tax.

How many Nigerians earn this amount?
And this is just eligibility to obtain the loan without considering any other variable/assessments.
Note - obtaining a loan @ 24% for more than a year is not tenable especially for a non- productive venture.