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FG To Slash Levy On Imported Cars To 5% From 35% - Car Talk (4) - Nairaland

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PAN Nigeria Demand Reversal Of Tariff Review On Imported Vehicles / China Begins Export Of Second Hand Cars To Nigeria / Automobile Workers Kick Against FG Move To Slash Vehicles Duty To 10% (2) (3) (4)

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Re: FG To Slash Levy On Imported Cars To 5% From 35% by desmondidiot: 12:53pm On Nov 22, 2020
Yenefer:
Sai Baba. Buhari havr to rebuild Nigeria all over again after years of PDP destruction.
Innoson motors? Who cares. We don't

How old are you

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by grandlexuz(m): 12:54pm On Nov 22, 2020
Rugaria:

We are talking about how policy summersaults destroy budding local industries and the need for governments to think this through before proclaiming such policies. In this regard, innoson is the biggest local automobile industry! Nobody has talked about tribe yet until you injected your noxious conjectures into the thread. For heavens sake, This is a government that has closed the countrys land borders because they want local farmers to sell rice!

To begin with I doubt any Nairalander owns an Innoson car. Even at peak production can Innoson meet the transportation demands of Nigeria.?

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Re: FG To Slash Levy On Imported Cars To 5% From 35% by Coolcalmcollect(m): 12:54pm On Nov 22, 2020
SavageMaster:


I heard Innoson is expanding to some African countries. I hope it works out for him so it will cushion the effect of this new government decision. Really troubling times.
idiot when importation was high how many innoson your papa buy?
Re: FG To Slash Levy On Imported Cars To 5% From 35% by oocyte: 12:55pm On Nov 22, 2020
l don't know what innoson is still doing in Nigeria he should move to any African country with good policy and favourable government to do his business and he can still import his car to Nigeria.
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Yeeyo: 12:56pm On Nov 22, 2020
stories
Re: FG To Slash Levy On Imported Cars To 5% From 35% by primestreams: 12:56pm On Nov 22, 2020
einsteine:



Proforce, a Nigerian company, produces vehicles for the Nigerian military. Innoson's biggest customer is currently the Nigerian government.

I might also add that blackmail and blame games are Innoson's top marketing strategies.

Not enough

Want I am saying

Just like boeing is to USA
Benz to Germany

It supposed to be like this
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Minjim: 12:56pm On Nov 22, 2020
Officialgarri:
This is like telling Innosson to go to hell.

Innosson products are less affordable. But can we blame him ? I think NO.
The cost of producing raw materials in Nigeria is not cheap not only because of limited technological know-how but because we are solving problems upwards to the ground instead of the other way round.

What do I mean? If there are enough automotive spare parts production industries in Nigeria despite our abundance of iron family (lead and zinc) , then the problem of monopoly and inflation will be solved on it's own.

The government on her part will not continue to wait for Innosson to bring down their prices



Is it only Innosson?

It's a bad news for all local car manufacturers

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by Coolcalmcollect(m): 12:57pm On Nov 22, 2020
these people saying they wanna kill innoson motors.... please when the importation was high....how many innoson una papa buy? how many innoson una dey use as Uber?? who tell una papa say na Nigerians dey patronize innoson pass....the rich nigger will sell even if importation is free....so many daft people in his country

3 Likes

Re: FG To Slash Levy On Imported Cars To 5% From 35% by jesmond3945: 12:57pm On Nov 22, 2020
ethicallyright:
The over hyped car assembler, loan defaulter and tax fraud disguising as an automobile manufacturer needs to begin an overhaul in his moving coffins packaging company.


He may begin by employing a brain filled cone head individual and intelligent innovator like myself to champion electric cars production which is clearly the future.
He should also stop dashing Big Brother Naija's women of easy virtue vehicles they keep as furniture at home and instead drive the Mercedes their "fans " gift them and invest more in Corporate Social Responsibilities like sponsoring brilliant minds to Universities in Europe , China and North America to aid technology transfer that will help his firm grow.



Jokes aside, local automobile manufacturers should target individuals with low income who would most likely purchase vehicles for full time or part time transportation business to increase their income. In a country where people laugh at you for using a brand new current Infinix instead of a second hand iPhone 6 in 2020, it is funny to think that middle income or high income earners would buy a locally produced car for the price they can get a decent Toyota, Mercedes or Lexus.

Produce more fine tricycles , mini buses and partner with hire purchase companies to sell and distribute them to your target consumers who do not drive vehicles for clout. There is a huge potential here. Lagos State and every other State yet to ban commercial motorcycles completely have waiting consumers for such vehicles.

oboy hate no good o. How do you want to be blessed?

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by gaddafe(m): 12:57pm On Nov 22, 2020
Acjohn:
An evidence that Buhari government is confused. Policy instability is one of the things that drives away investors. It was supposed to be time for Igbo man like innoson but because hr is not a northerner, let the policy be changed to disfavor him. What happened to the automotive policy of Nigeria?

As I dey like this now, I don't know where we are headed economically, NNPC have changed from oil producer to oil importer. Resources in the north is for the people that in the south is for the government, Ipob are terrorist while Fulani herdsmen and BH are misunderstood people that government needs to negotiate with.

I won't be surprised if its a northerner that was given a contract and had to lobby for this to be lifted so that he can make good gains, after that government will reverse the policy again.

God help us from this circular motion.

This policy will not affect innoson negatively. Anyone in doubt should explain why they think this policy will affect IVM. Innoson does not manufacture second hand motors but new ones. How many people from other regions even patronise IVM? I can tell you if Innoson can produce a low budget cars for Nigerians, people will leave the tokunbor and buy his brand. IVM is competing with other world known brands in terms of price. How does he think he will succeed? Innoson needs to start thinking like the Chinese if he wants to dominate Nigeria not southeast

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Re: FG To Slash Levy On Imported Cars To 5% From 35% by pacespot: 12:57pm On Nov 22, 2020
ethicallyright:
The over hyped car assembler, loan defaulter and tax fraud disguising as an automobile manufacturer needs to begin an overhaul in his moving coffins packaging company.


He may begin by employing a brain filled cone head individual and intelligent innovator like myself to champion electric cars production which is clearly the future.
He should also stop dashing Big Brother Naija's women of easy virtue vehicles they keep as furniture at home and instead drive the Mercedes their "fans " gift them and invest more in Corporate Social Responsibilities like sponsoring brilliant minds to Universities in Europe , China and North America to aid technology transfer that will help his firm grow.



Jokes aside, local automobile manufacturers should target individuals with low income who would most likely purchase vehicles for full time or part time transportation business to increase their income. In a country where people laugh at you for using a brand new current Infinix instead of a second hand iPhone 6 in 2020, it is funny to think that middle income or high income earners would buy a locally produced car for the price they can get a decent Toyota, Mercedes or Lexus.

Produce more fine tricycles , mini buses and partner with hire purchase companies to sell and distribute them to your target consumers who do not drive vehicles for clout. There is a huge potential here. Lagos State and every other State yet to ban commercial motorcycles completely have waiting consumers for such vehicles.


The problem is innoson is aiming for the high taste consumer brand which is not good for him as a startup. He needs to build his business from the bottom up not the other way round. He needs to produce affordable vehicles for middle and low income consumers, then once he gains the control of the market, he can start incorporating those high priced machines. The fact is he does not have brand yet in Nigeria. How many of Nigerian car consumers can compare innoson with other brands they are used to when making their purchasing decision?

3 Likes

Re: FG To Slash Levy On Imported Cars To 5% From 35% by poiZon: 12:59pm On Nov 22, 2020
For instance in akwaibom, from uyo to oron is a distance of less than 1hr or 1hr Max.
Normally the fare suppose to be 300 then, but it climb to 450 cos of union at the park, police check points. There r more than 6 checkpoints before u reach uyo if coming from oron. Each checkpoint every driver must pay 50naira, multiply this by 6 u have 300.
He buys fuel, the union at the park will get their loading fee, security fee etc every trip, u carry Max 6passengers, by the time u deduct all these levies both legal and illegal u r left with little or nothing for urself. If u r on hire purchase, imagine what u will become at the end of the day.
All these factors determine the prices of goods and services.
If they really want to address transportation cost, look into these illegal levies In states.

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by BuddhaPalm(m): 1:00pm On Nov 22, 2020
Attit:

Please how is it 35% + 10%? Could you explain further?

Import duty is currently 35%, and there's also a 35% levy.

Reduction of this levy to 10% is what they are talking about.
Re: FG To Slash Levy On Imported Cars To 5% From 35% by yusufu16: 1:00pm On Nov 22, 2020
Yenefer:
Sai Baba. Buhari havr to rebuild Nigeria all over again after years of PDP destruction.
Innoson motors? Who cares. We don't

If Innoson and Peugeot cannot reduce their price, let them close shop. Their vehicles are unnecessarily expensive.

Not all countries produce vehicles yet their economy is doing well.

Economy will start booming now. I can now Import vehicle for my laundry business cheap

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by oniluuu(m): 1:00pm On Nov 22, 2020
This policy will stifle the growth of local automobile industries. However, I wonder on which roads these cars will be driven. undecided

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by Jesse25(m): 1:02pm On Nov 22, 2020
ivolt:
Foolish and regressive policy. Everyone knows that fuel price is responsible for high transportation costs and not import duties. If fuel price is slashed today, the effect will be immediate unlike the duty reduction whose effects is dubious.

buhari supporter why are you insulting your master nah ...lol
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Ykc2(m): 1:03pm On Nov 22, 2020
Innoson car gone
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Proflere: 1:05pm On Nov 22, 2020
ethicallyright:
The over hyped car assembler, loan defaulter and tax fraud disguising as an automobile manufacturer needs to begin an overhaul in his moving coffins packaging company.


[b]He may begin by employing a brain filled cone head individual and intelligent innovator like myself to champion electric cars production which is clearly the future.
He should also stop dashing Big Brother Naija's women of easy virtue vehicles they keep as furniture at home and instead drive the Mercedes their "fans " gift them and invest more in Corporate Social Responsibilities like sponsoring brilliant minds to Universities in Europe , China and North America to aid technology transfer that will help his firm grow
. [/b]


Jokes aside, local automobile manufacturers should target individuals with low income who would most likely purchase vehicles for full time or part time transportation business to increase their income. In a country where people laugh at you for using a brand new current Infinix instead of a second hand iPhone 6 in 2020, it is funny to think that middle income or high income earners would buy a locally produced car for the price they can get a decent Toyota, Mercedes or Lexus.

Produce more fine tricycles , mini buses and partner with hire purchase companies to sell and distribute them to your target consumers who do not drive vehicles for clout. There is a huge potential here. Lagos State and every other State yet to ban commercial motorcycles completely have waiting consumers for such vehicles.


That is the exact thing our wicked government should have done with rice and other banned essential product before locking the border in the south and force southerners to consume the rubbishes produced in the north at higher prices. If any northers was in the business of automobile assembling as you called it, would this government ever make this move? It is absolutely obvious how wicked they are.

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by Plut01: 1:06pm On Nov 22, 2020
.


Thank goodness. I can now buy my Volvo car at a very cheap price.

Make I use am clear some police off our poorly constructed road.

.

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by Rugaria: 1:07pm On Nov 22, 2020
grandlexuz:


To begin with I doubt any Nairalander owns an Innoson car. Even at peak production can Innoson meet the transportation demands of Nigeria.?
Is it not better for the government to focus it's energy on providing policies to make locally made cars cheaper through targeted investments in companies associated with the supply chain rather than throwing the damn borders open for all sorts of countries that have done so before to flood nigeria with second hand cars?

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by TruthinAction: 1:08pm On Nov 22, 2020
Na car we go chop? Bag of rice rose from 9,000 naira to about 35,000 naira in the five years of this government. One sachet of tomatoe paste is now 150 naira from 50 naira in Port Harcourt. Open the borders and let food come in. It will bring down the price of every food items and the low income earners can cope.

1 Like

Re: FG To Slash Levy On Imported Cars To 5% From 35% by pacespot: 1:11pm On Nov 22, 2020
Rugaria:

I don't like made in Nigeria rice. Lots of stones. So why am I being forced to eat that with the closure of the borders? How can you support the ban on imported rice, a staple food eaten by Nigerians daily but become happy with the liberalisation of car imports? What changed!? Impport bans on rice makes an essential, very costly, while reduced charges on car imports, makes a not so essential product cheaper... The problem with you guys is that you all start off by projecting your rabid tribalism on others. The only good thing in this policy is that Abuja politicians will have more money to spend. Otherwise any critical mind will know that this policy automatically makes Nigeria the dumping ground of used cars in the world. You are going to buys cars. Many cars. But it's still tokumbos used elsewhere. Capital flight with streets and highway littered with broken down caterpillars and lorries. Why bother explaining to you guys? You will always see it from your normal tortured lenses..

Abeg let them bring and dump the tokunbo cars on us in Nigeria, it will help many businesses that are struggling with high costs of transportation. This will drive business and commercial activities in the country. A car owner will always find a way to survive no matter how harsh the economic situation in the country is.

4 Likes

Re: FG To Slash Levy On Imported Cars To 5% From 35% by pongwa(m): 1:11pm On Nov 22, 2020
ogododo:


https://www.thecable.ng/no-more-35-fg-to-slash-levy-on-imported-cars-to-5/amp
the world is now fully invested in electric cars so they would like to dump their hydrocarbon cars in third world countries

2 Likes

Re: FG To Slash Levy On Imported Cars To 5% From 35% by Pravedk: 1:11pm On Nov 22, 2020
To be honest. This is long overdue. Most Nigerians prefer tokunbo to these things innosson is producing-which is expensive.
How will I have 22million and buy that gwagon copy when the good original tokunbo is around that price. Dem swear for me? So tey camry come dey expensive.

The truth is, toyota, benz,bmw etc are way ahead. Competing with them is a looser strategy. But every car manufacturer have a niche which when pursued will be profitable. Tata in india tried it and understand, so they bought a piece of land rover instead of competing. Hyundai and Kia focus on thier focus-they are making money. Innosson is making money selling trucks for awa police and army. Innosson can focus on keke and minivan, minitruck, pickups and buses, which the government and keep patronising. Imagine innosson producing this type of HIJET minitruck at say N700k brand new? Won't people prefer it if it's reliable? And for God's sake if someone has money let him buy whatever type of car he/she wants. Good policy reversal abeg!
Now I can focus on more Hussle to buy an E63 AMG like a real niggar

6 Likes

Re: FG To Slash Levy On Imported Cars To 5% From 35% by vioment: 1:12pm On Nov 22, 2020
I like this. Focus on power supply and a clear and solid business Foundation. This is a small step but this also means even more traffic.


So road maintenance and even more roads and other forms of transportation.
Re: FG To Slash Levy On Imported Cars To 5% From 35% by enemyofprogress: 1:12pm On Nov 22, 2020
Those of you that understand geography, please what does this mean and what are the implications on the masses?
Re: FG To Slash Levy On Imported Cars To 5% From 35% by JADEK01(m): 1:12pm On Nov 22, 2020
heed101:
Those shouting that they want to kill lVM, how many IVM can you count in your area or on our roads? IVM can carve a niche of producing luxury cars and the rich will patronize him.

I dont think the material cost incurred can make IVM produce affordable cars.

Govt reducing import duties is a welcome development. It will boost our ports activities and more jobs would be created. Consumption of fuel will be increased and create more revenue to the Govt.

What about spare part market that has been dwindling due to low demand of spare parts? A new shift will come into the market.

Good development I must say.
good idea, I wish this should apply to rice

2 Likes

Re: FG To Slash Levy On Imported Cars To 5% From 35% by Tango123: 1:13pm On Nov 22, 2020
Rugaria:

Best bet will be to quicken the process of manufacturing most of his raw materials locally. That will be capital intensive tho. Maybe alligning with the Chinese suppliers to set up shops locally.. In better managed environments, government would have helped to prop-up factories to help the supply chain. But this government is more interested in tax and spend. It's very easy to revert to policies like this to jack up revenue in the short term, but domesticating sundry technologies related to the car manufacturing business will ultimately grow the economy in the long run. There is also the problem of costant change of policies. Most of the big brands trying to open up assembly plants in Nigeria may not go on with the plan. Obviously, tokumbo cars will be cheaper..

Those big companies like nissan and others who are already here and assemble in Nigeria will fold up and leave

2 Likes

Re: FG To Slash Levy On Imported Cars To 5% From 35% by Rugaria: 1:13pm On Nov 22, 2020
pacespot:


Abeg let them bring and dump the tokunbo cars on us in Nigeria, it will help many businesses that are struggling with high costs of transportation. This will drive business and commercial activities in the country. A car owner will always find a way to survive no matter how harsh the economic situation in the country is.
Ok ooo
More cars on bad roads with high costs of fuel and of course lost revenue and jobs from car assembly plants... Let's see how it goes..
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Muhylonaire007: 1:13pm On Nov 22, 2020
Yenefer:
Sai Baba. Buhari havr to rebuild Nigeria all over again after years of PDP destruction.
Innoson motors? Who cares. We don't


You are a she-goat grin grin grin

1 Like

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