I just read a very depressing article that highlighted that only 775 new cars were sold in all of 2020 in Nigeria. That's abysmally low for a country of 200 million people. It highlights the level of poverty here. Brazil has the same population and some Nigerians in the travel section refer to as a shithole had 2.7 million brand new car sales an increase in 8 percent from the previous year and this was during a pandemic o.


Is there really a market for automobiles in Nigeria.

The article

https://www.ceicdata.com/en/indicator/nigeria/motor-vehicles-sales

I hate africa!

tensazangetsu20:
I just read a very depressing article that highlighted that only 775 new cars were sold in all of 2020 in Nigeria.

I checked the website and didn't see any data for 2020. 775 is a pretty low figure.

aieromon:


I checked the website and didn't see any data for 2020.

That's weird but it was there some moments ago. Maybe they are updating their servers but look at even the previous years. Its only like ten thousand people that can afford new cars in Nigeria. Where's the massive market everyone is always yapping about.

tensazangetsu20:


That's weird but it was there some moments ago. Maybe they are updating their servers but look at even the previous years. Its only like ten thousand people that can afford new cars in Nigeria. Where's the massive market everyone is always yapping about.

Affordability is different from accessibility. Accessibility should come with financing options. Until then, Nigerians will make do with the used cars market where they pay out of pocket without sweat.

https://nairametrics.com/2020/09/08/nigeria-imported-n1-28-trillion-used-vehicles-motorcycle-in-one-year-up-by-42/

aieromon:


Affordability is different from accessibility. Accessibility should come with financing options. Until then, Nigerians will make do with the used cars market where they pay out of pocket without sweat.

Its still to low compared to countries like brazil and mexico which Nigeria should be on the same level with. Brazil alone had ten million used car sales. 10 freaking million.

tensazangetsu20:


Its still to low compared to countries like brazil and mexico which Nigeria should be on the same level with. Brazil alone had ten million used car sales. 10 freaking million.

There is no basis for comparison.

Brazil has about 36 automobile manufacturers.

Mexico has about 21 automobile manufacturers.

Their automotive industry is light years ahead.

tensazangetsu20:
I just read a very depressing article that highlighted that only 775 new cars were sold in all of 2020 in Nigeria. That's abysmally low for a country of 200 million people. It highlights the level of poverty here. Brazil has the same population and some Nigerians in the travel section refer to as a shithole had 2.7 million brand new car sales an increase in 8 percent from the previous year and this was during a pandemic o.


Is there really a market for automobiles in Nigeria.

The article

https://www.ceicdata.com/en/indicator/nigeria/motor-vehicles-sales

I am in no way trying to discredit this but I read an article published by SR that the national assembly bought Toyota cars for its member at a very outrageous price. I mean this article was published in 2020. Assuming each member got one Prado Jeep each meaning 360+ 109= 469, then subtracting 469- 775= 351. Meaning 2020, the Executive, Judiciary, HOA, Civil Service and the masses would have to ration 351 newly bought cars among themselves?

The figure is false

The5DME:
I hate africa!

don't use Nigeria to judge africa please.. Other countries in africa are doing well e.g south africa,Morocco.. So don't assume because Nigeria is not doing well,then africa is not..
It makes much sense when you say I Hate west africa.

tensazangetsu20:


That's weird but it was there some moments ago. Maybe they are updating their servers but look at even the previous years. Its only like ten thousand people that can afford new cars in Nigeria. Where's the massive market everyone is always yapping about.

hi, I want you to teach me digital marketing. I saw ur thread. Check ur Dm.

TechCapon:
hi, I want you to teach me digital marketing. I saw ur thread. Check ur Dm.

I have replied you but I don't have time to teach at all.

We don't even know if there is market for cars in Nigeria.

Maybe we should ask those who want to sell Nigeria used 1999/2000 Camry for 800,000 naira.

How much was the car sold in 1999/ 2000, when it was released.

tensazangetsu20:

I have replied you but I don't have time to teach at all.

my man, I didn't see any reply o. I just want the basics and then I'll take it from there. I'm not a novice in digital marketing, I just want a little push.

That's a lie. A big fat lie. You know how many automobile companies are in Nigeria selling new cars? Also add innoson and you will realise you're chatting rubbish



I may not have the real figures but I'm sure over 100,000 new cars are bought in Nigeria

xtervaganza:
That's a lie. A big fat lie. You know how many automobile companies are in Nigeria selling new cars? Also add innoson and you will realise you're chatting rubbish



I may not have the real figures but I'm sure over 100,000 new cars are bought in Nigeria

100000 even in 2012 when things were good not up to 20000 new cars were sold yearly.

I will rather use my money to buy stock invest in business than to a 20year old used car for 1 million nonsense country and nonsense people

The honest truth is 95% of Nigerians don't buy new cars. The go for foreign used, accidented or Nigerian used cars. A lot of people cannot afford it.