sopoundz: employment

caseless: and even if they come here to build d cars, how many people can afford a brand new car? Or ar u talking about d employment it wl generate?

caseless: Fresh air!

AMADU77:

Peugeot is already manufacturing in Nigeria, we cant afford 2M for 406 !!!! That i can get tokunbo for 800k

Its a a decision that will be revoke by d next person bcs we cant just accept riding bikes like vietnam n india , we r in nigeria bro,

If hiace bus will be 6M then lagos PH trip will be 20k bcs d bus need to be changed every 5 yrs max

They r taking out our priviliges 1by 1, like fkn a virgin u put it small small till it get in wtf bro....
Wtf u r talking. About

Golf 3 will be 1 M , small taxi will be 1M , transport will increase n all this for what ? Bcs new cars dealers get pepper

Think about poor ppl bro

thegoodone:
both the employment and the price of new will drop.

obua: The info is not correct.
Camry does not cost N9m today. Also the duty is to be increased by 40% and not the whole price.
Secondly, Toyota is already planning to assemble some models locally, so there is no need to panic

BizBooks: I’m not making this up. This happens to be the informed opinion of a Toyota
Salesman in Lagos regarding the ban on importation of tokunbo cars. Here’s
the exact quote:

“…our Camry is about N9 Million now. But I can assure you that when
we reflect the new 70% duty and levy…Camry will be about N20 Million”

This represents an increase of more than 100%. We can expect all other car prices
to go up by that much in 2014. Unfortunately, Nigeria is like a nation on a barber's
chair. We move whichever direction our leaders push us, good or bad with little or
no resistance.

It is not too late to put a stop to this ill-advised policy. Contact every elected
and government official you know by email, phone, twitter, facebook etc. Make
your opinion known to them. If enough people complain, this policy might be
reversed.

Note: The Toyota Salesman was referring to a brand new Toyota Camry.

Disclosure: The writer is an importer of tokunbo cars and will profit from a
reversal of this policy.

http://sunnewsonline.com/new/national/car-prices-rise-250/

caseless: hmmm...story! Peugeot the assemble some of their cars here in Nigeria, how has that helped in reducing the price? pple still go to cotonou to buy tokunbo Peugeot.

SeaGold: Wow! Time to start investing on automobiles instead of landed properties.







Inspired, send 20 units of Toyota camry '99 model to my compound, come collect ur money. #20,000,000 I guess right


***if I sale each for #10million in 2014, that's #200million. Wow!!!

Nigerian government thanks for this opportunity!

amakenny: If Nigeria, followed by other developing countries completely ban importation of used vehicles, rich nations that manufacture vehicles shall feel the adverse impact badly. And before long, Nigeria may be producing its own fully built vehicles. But if the trend whereby Oyibo shiits and pipis in his car, dumps it and we buy it and bring it to Nigeria, Nigeria can hardly ever produce a fully made in Nigeria vehicle that is commercially viable. India not long ago built a $2k worth car. Most commercially viable until....

penzino: Indeed

theoctopus: I have been reading this thread from page one. You cant help but laugh at the gross ignorance on display. Is thia how an average Nigerian thinks? wow!

1. Fisr, the op is an ignoranmus who posted trash and I dont know who will move this kind of trash to the front page.

2. All those who actually believed the op's trash are a disgrace. It is too childish

3. There i no way a policy like this will be a bad thing for any country. This is basic economics of demand and supply. We are having heavy capital flight in Nigeria. You cannot turn the country around without reducing the capital flight and encouraging local production

4. Those that insult the FG everyday and call for change are also those that oppose policies that are supposed to bring that change. Maybe they think the change will come by a magic wand

5. Some say the policy favour the rich, not the masses. Haba! Does the masses buy cars, whether new or tokunbo? Anyone who can afford a car of 500k and above is not among the poor masses. I thought they say we have 100 million destitutes in Nigeria. So why are we complaining? Do the destitutes also own cars? I know Nigerian destitutes are executive destitutes who drink like 5 bottles of beer daily in joints around the country.

6. On a serious note, people should learn to ask questions instead of just spilling ignorance on public forums.

Exponental: It's so pathetic dat our president is a one-way thinker. Why does he have to make decisions only to favor his political benefactors. Ban shld come in wen d competition is ripe. I dont even know of d innoson cars. He shld av dominated d govt sectors with them n let d users preach d gospel rather than imposing bans. Well, constitutionally, bans are reversible shaa!

waterhouse071: Then lets start producing cars locally instead of taking loans to buy junks. with GOD all things are possible.

Yea, thats what the "Pimping Pastors" preach to you ....

....But 53 years after "independence", Gawd has not "found it fit" to come and build ELECTRICITY Generating Plants for Nigeria!
Or do you think Car Plants are driven on "2hrs of electricity TODAY, NONE for the next THREE DAYS"?

Okay, l forgot, it was God who built the Power Plants in U.K, America,, Sweden, France and all other countries where Cars are manufactured!

Let me tell you the TRUTH: NO ONE can MOCK GOD!

stagger: All people need to do is to buy cars abroad and ship them down here, pay the new customs duty and their cars are through. I do not think that a new Camry will now cost N20m. The present duty is 20%. The increase is by about 50%, which means that if you pay N300,000 duty on a 2002 or 2003 model car, you end up paying 300,000 X 3.5 = N1.05m on duty. So assuming you bought a car for N1.2million equivalent, the cost of your car stays the same but your duty has increased by about N700,000. So a car that will cost N1.5m with the old duty will now cost N2.2m.

There will be an increase but it will not be as alarmist as the OP is making it sound. Besides the 2 houses still have to ratify this so there is opportunity for lobby groups to do their job before the policy is passed.

adepojuot: Cotonou thingz!!!

gidigbi:

With due respect sir, I believe your calculation is not correct.

The present duty of 20% if increased by 50% (20+50/100*20) will give us 30% total. Thus, using your analogy if one paid 300,000 duty (which represents 20% purchase value ) on a car of 2002/03 model, then the new tariff will be 300,000+50/100*300,000 = 450,000.

Taking your second assumption into cognizance, if a car is purchased for N1,200,000, agreed the cost remains unchanged however, if the new duty is applied (30%) then the amount to be paid as duty will be 30/100*1,200,000 = 360,000 and this will bring total cost (purchase added to duty paid) to 1,200,000+360,000 = 1,560,000.

Folks in the forum can please go throug my calculation and point out if there's any missing link