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What Is The Reason For Increasing Car Prices? - Car Talk - Nairaland

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What Is The Reason For Increasing Car Prices? by Carcholce: 10:16pm On Apr 23, 2023
The prices I am seeing on Nairaland and Instagram is something else. A car I bought for 7.5m in 2020 is now selling for almost 15m. Is it exchange rate or custom duties or greedy marketers?
Re: What Is The Reason For Increasing Car Prices? by Lemos14: 10:24pm On Apr 23, 2023
Carcholce:
The prices I am seeing on Nairaland and Instagram is something else. A car I bought for 7.5m in 2020 is now selling for almost 15m. Is it exchange rate or custom duties or greedy marketers?

All of the above..you already know the state of the country..your question is making you look like you're not a Nigerian or not living here

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Re: What Is The Reason For Increasing Car Prices? by AchrafHakimi: 10:36pm On Apr 23, 2023
Greed.
Naija used also went up. What's the excuse??

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Re: What Is The Reason For Increasing Car Prices? by Carcholce: 10:51pm On Apr 23, 2023
Lemos14:


All of the above..you already know the state of the country..your question is making you look like you're not a Nigerian or not living here

You are right. I do not live in Nigeria. But even with custom duties and exchange rates, the prices are not supposed to go this high.
Re: What Is The Reason For Increasing Car Prices? by Carcholce: 11:04pm On Apr 23, 2023
AchrafHakimi:
Greed.
Naija used also went up. What's the excuse??

Exactly.
Re: What Is The Reason For Increasing Car Prices? by Lemos14: 11:07pm On Apr 23, 2023
Carcholce:


You are right. I do not live in Nigeria. But even with custom duties and exchange rates, the prices are not supposed to go this high.

Also in 2020 sardine was 250..now its 800
Is it supposed to be that high?

If you're not living in the country I don't see the point of your questions...people have to survive and they have to make profit..you dont have to study economics to know this
Re: What Is The Reason For Increasing Car Prices? by nurey(m): 6:50am On Apr 24, 2023
Carcholce:
The prices I am seeing on Nairaland and Instagram is something else. A car I bought for 7.5m in 2020 is now selling for almost 15m. Is it exchange rate or custom duties or greedy marketers?

Una no dey taya

2020 CBN rate 306 black Market 350 to 360

2023 CBN rate 4xx black market 7xx

Double the rate meaning goods have to more than double too.
Re: What Is The Reason For Increasing Car Prices? by nymphomaniac(m): 7:25am On Apr 24, 2023
Tinubu or whoever becomes president after the Tribunals has two things to do, to have his name written in the sands of time:

1. Constant electricity
2. Revamp the economy
3. Security.

Yeah I said two and added a third cos you can’t do one and two without three.

Until these happen, expect cars bought at 15m this year to be 16m next year.

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