Why Is That Car Price Still De High When Dollar Rate Don Fall - Autos - Nairaland
Nairaland Forum / Nairaland / General / Autos / Why Is That Car Price Still De High When Dollar Rate Don Fall (903 Views)
Toyota Camry 2.2 Naija Use For Sale @ 580... Price Still Open For Negotiation / Increase In Customs Dollar Rate (#326 - #361) / Surface Duty And Dollar Rate (2) (3) (4)
| Why Is That Car Price Still De High When Dollar Rate Don Fall by keycash: 7:22pm On Jun 01, 2017 |
why is that car price still de high when dollar rate don fall. ? |
| Re: Why Is That Car Price Still De High When Dollar Rate Don Fall by keycash: 7:32pm On Jun 01, 2017 |
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| Re: Why Is That Car Price Still De High When Dollar Rate Don Fall by hisgrace090: 7:37pm On Jun 01, 2017 |
Work of greed. |
| Re: Why Is That Car Price Still De High When Dollar Rate Don Fall by heykims(m): 7:40pm On Jun 01, 2017 |
Don't mind d bastard covetous dealers.. I'd like to know what d market will look like for buyers in few months to a year 's time Expert to come do analysis |
| Re: Why Is That Car Price Still De High When Dollar Rate Don Fall by zamirikpo(m): 9:52pm On Jun 01, 2017 |
the thing is very annoying especially this car called corolla 03,04,05 and 06. that is sold for 2m and above................haba. |
| Re: Why Is That Car Price Still De High When Dollar Rate Don Fall by Anchor84: 10:31pm On Jun 01, 2017 |
Pls how much is $ exchange rate now,I don't think it has fallen tho... |
| Re: Why Is That Car Price Still De High When Dollar Rate Don Fall by calculusx(m): 10:33pm On Jun 01, 2017 |
$ rate at #370 is still very high. $1 was #220 when this administration came into power. Don't expect any miracle soon, until when $1 equals at least #300, then we can feel significant change in price of commodities. Majority of Cars in Market Today were Purchased when $ was #440 or above. Remember, it takes 5 to 7weeks for Cars imported from US to get to Nigeria. At times, It takes longer than expected. Give it another 1 month or 2 before the Car will sell. So do you expect such Cars to be sold at present rate? Don't also forget, there were Cars imported when $ went above board (#500 to $1) that were yet to be Sold. Do you expect such Car to be sold at present exchange rate? Looking at it from another dimension, competition on Auction was drastically reduced during recession with many importers pulling out of business because of high forex rate. Cars were extremely cheap but when you consider the exchange rate and do your conversion to Naira, you will understand they were not as cheap as it seems. Now that exchange rate fluctuate between 370 to 385, many importers who were out of business are back in business, competition is high, cars sold for $5k during recession were now sold for $6500+. Doing the conversion back to Naira you will discover there is only a slight difference in price. Do not also forget high cost of Custom duty. Finance minister was fast in increasing official $ rate when forex rate skyrocketed to #450. Now that it has reduced, they still maintain the same official rate. In Conclusion, until when exchange rate is reduced and stable (#300) don't expect any significant change in price. Although, Prices are coming down gradually but not a sharp contrast as expected. Don't accuse Dealers or Importers of been greedy. Government, You & I have a role to play in making Nigeria great. My one cent 10 Likes 2 Shares |
| Re: Why Is That Car Price Still De High When Dollar Rate Don Fall by bubsykay: 10:55pm On Jun 01, 2017 |
zamirikpo: Don't think this is true, I can help with the mathematics. A GOOD 03-06 Corolla ranges between prices $1500 - $3000 (depending on the year, mileage and spec) Lets use 2004 Toyota Corolla as our case study Assuming our 2004 Toyota Corolla Cost $2200 (Average price with nothing to fix) Riro/consolidated shipping costs about $1250 (Add Logistics and transport of $250) Total $3700 * 380 (Black market exchange as at yesterday) Then we have 1,406,000 Lagos Clearing 400,000 Total Cost: 1,806m (Without adding profit or other logistics in Nigeria) How much do you expect such dealer to sell Note: this is a general cost assumption base on average market price, might be a bit more or less depending other factors. 1 Like |
| Re: Why Is That Car Price Still De High When Dollar Rate Don Fall by calculusx(m): 10:59pm On Jun 01, 2017 |
zamirikpo: * When $ was #220 to #280 an average Corolla sells for $3000 on Auction, with present exchange rate, Corolla sells for $1900 on the average. Add at least $1300 for Trucking and Shipping. ($3200 x #390) + #450,000= #1,698,000 This is just a rough estimate excluding miscellaneous expenses. How much did you expect such Car to be sold for? 2006 to 2008 Corolla cost more to clear. This is more reason why dealers cut corners especially in custom duty so as to knock off few hundred thousands. Not holding brief for them though |
| Re: Why Is That Car Price Still De High When Dollar Rate Don Fall by keycash: 12:29am On Jun 02, 2017 |
calculusx: So educative  1 Like |
| Re: Why Is That Car Price Still De High When Dollar Rate Don Fall by RoyalBoutique(m): 6:16am On Jun 02, 2017 |
I can't believe that you guys think the dollar controls our economy. The price of Everything increased because the price of petrol increased. The Senate just called for another increase in the price of petrol. So, expect the price of cars to increase again. Dollar my a$$ 2 Likes |
| Re: Why Is That Car Price Still De High When Dollar Rate Don Fall by keycash: 12:04am On Jun 03, 2017 |
 oga ooo |
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Toyota Highlander In Abuja. 1,580,000 / clean Lexus Rx 330(2005)3.6m.neg VERY sweet looking / Super clean Registered Toyota Corolla 2010 Bought Brand New For Sale 2.6m
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