The recent weeks has seen a drastic increase in the exchange rate of Naira to the Dollar which make business quite challenging.

This is moreso that prices of vehicles are determined by Dollar-Naira exchange rate. Within the month of November alone we have seen the Dollar going from N460-N487 as at today.

This is not likely to come down owing to the appraoching festivities in December. The last few months have also seen a maginal increase in the prices of both Tokunbo and Nigerian Used cars and customers no wan hear say price of cars increase, the insult no be here.

So how are you all coping and what strategies do we use to navigate this trying times?

No be only auto dealers this rate dey affect o. Importers generally are feeling the heat. E no easy at all

Some will even resort to buying stolen cars from US and Canada.

2010: Toyota Corolla 2003 sales price in nigeria 1.3 million
2020: Toyota Corolla 2003 sales price in nigeria 1.7 million.

same product and manufacturing date more expensive 10 years after( Do they mean the older the more expensive)

Do you have a Bean bag you need to fill up, we got you covered and can supply to you in Polystyrene Beads (EPS granules) no matter any where you are in Nigeria.
Poly beads are also used in concrete casting.
attached is some poly beads recently supplied
https://www.nairaland.com/3726763/alternative-building-material-expanded-polystyrene/14

see

Nigerians are greedy people
Yes dollar has increased but surely the levy import levy on imported cars has been slashed. So how come the effect can’t and won’t be seen by people buying tokunbo cars

Nigerians are greedy people and would exploit any situation. Any price of anything that goes up in Nigeria through chance, luck or pure economics never goes back down when every parameter has been fixed

Tokunbo cars aside, let’s say it cost 1.5million to import a tokunbo Toyota Camry 2009 to Nigeria. And the seller wants to make his own profit and sells for 1.9 million

Please what about used Nigerian cars, how come all of a sudden it is now expensive, like which part of forex deals with Nigerian used cars that has been used on Nigerian roads.

Too much greed in this country and sometimes if you say too much, people would be like if you can’t afford it, shift and same people want corruption to end, sars to end, nepotism to end. Like una never serious yet

Finally this country is a time bomb, imagine sellin a 2006 car for $3,000 (1.4 million )

Imagine a 14 year old car that the Oyimbo manufacturers have even forgotten they made 14 years ago still selling for millions in a third world country that produces nothing of its own and only imports everything to sustain its lifestyle smh

It's just harder here. Lai Muhammad said that our economy is doing very well as compared to other economies. . Next level pro Max loading...

It's not easy on our sides. May God help us. Aameen

They have promised to reduce the clearing or vehicles from 35% to 5%. Wait you shall see

The recent weeks has seen a drastic increase in the exchange rate of Naira to the Dollar which make business quite challenging.

Na all businesses we dey deal on important dey suffer am ooo

WE DO NOT HAVE ACTIVE POLICY MAKERS IN NIGERIA,..

WHAT ARE THE NIGER DELTA MILITANT DOING..?

WE NEED YOU GUYS.,...

OUR ECONOMY IS COMPLETELY GROUNDED.

YET DULLARD CONTINUE TO BORROW LOAN..,

E no go better for Buhari and APC

What is really making the Naira weak by the day and the dollar gaining Strength.


God pls give our Leaders Sense.

The Economy is in complete comatose

It's a dead country on autopilot..

Hunger everywhere... Fuel hike.. food price hike

Yet Yoruba Muslims chant sai barber

I thought the federal government has reduced import fees for vehicles from 35% to 5%? Just asking please.

This Nigeria, most people will rather be suffering and smiling than voice out.

articlewriter:
Innoson cars accepts Naira not dollar. Let us grow our Naira

he exchanges back to dollar an importer raw materials

articlewriter:
Innoson cars accepts Naira not dollar. Let us grow our Naira

Nigerians prefer cars wey oyinbo man don drive before.

Nothing can justify a failed leadership in nigeria