₦airaland Forum

on December 29, 2015 / in Business, News 2:44 am

Nigeria’s automobile sector may contribute at least 4.5 per cent of 2016 global automobile sales as a result of the country’s increased investment in the automobile sector in 2015, which encouraged local production.

This was contained in the review report of the trends in the automobile sector in Nigeria by online vehicle marketplace, Carmudi.com.ng.
According to the report, “In 2015, investment in the automobile industry in Nigeria was at an all time high as more than 12 automobile manufacturing plants including cars, bikes, tricycles, and trucks began production in Nigeria. With the rise of local automobile manufacturing industry, investors, auto financing and favourable government policies, 2016 promises to be an interesting year for Nigeria’s automobile industry.

It is estimated that the revenue generated from this sector will produce 25 per cent of the national GDP in the first quarter of 2016.”

The report also noted that “vehicle ownership increased in 2015 with the availability of locally manufactured cars, increase in the availability and sale of Nigerian used cars and access to car loans. Use of personal cars also increased.”

The report’s projection for 2016 trends in Nigeria noted that “E-car technology will be taken into consideration more in 2016. More people will embrace hybrid cars because of their low fuel consumption and reduced exhaust emission and production of these cars will increase by 4.6 per cent by 2020. Demand for cars with other simple technologies such as GPS, remote sensor locks, car tracking devices, keyless ignition will increase.”

It added: “E car market penetration will also increase in 2015 as research paper by Carmudi Nigeria showed that 83 per cent of Nigerians start their search for cars online before purchase. The research also stated that the online car market in Nigeria is driven by internet growth and mobile penetration. 2016 promises to surpass the 300 million searches online for new and used cars in Nigeria.”

On auto brand trends, the report said: “A brand research in 2015 showed that Volkswagen may have greater potential than its closest competitors in Nigeria. Hyundai market shares will also continue to increase in 2016 followed by Toyota, General Motors and German automakers.”

Recall that recently, the KPMG 2015 global Automotive Summary Survey pointed out that the automobile industry across Africa will increase in volume and global sales will pass the 100 million mark and continue to rise till the end of the decade.
http://www.vanguardngr.com/2015/12/nigeria-automobile-sector-to-contribute-4-5-of-2016-global-sales/

Yanks101:
I think your calculations are emotional and wrong.
The last election did not deliver a full strength south eastern electorates which would definitely change if ekweremadu runs.
Buhari is the only politician in Nigeria that can successfully defeat saraki in an election.Being a master strategist, Saraki already has his allies in the north already. He just need the southern support which he would definitely get from the SE/SS.
The only politician that can stop saraki is buhari. If buhari runs, then saraki would have wait till 2023.
The fact that you mentioned fashola is laughable. He is sellable but not against saraki's political machinery.
Even buhari who is a god-like figure in the North did not win for over 12 years on the back of merit alone.
Btw, calling the SE decision to vote saraki as emotional is hypocritical coming from a South westerner. we all remember the talks of the so-called marginalization under jonathan and how it affected the voting pattern in the SW .

CFCman:
The Nigerian government can't even expand the major highway linking the West to the East from 3 to 5 lanes, let alone a $ billion bridge

cool318:
I have been wondering why we call ourselves One Nigeria when Higher Institutions like UST Port Harcourt, will be charging a none Indigenous student almost 80k higher. My cousins are among the Protesters right now

This is seen also in schools in the West & the North.
Pls , I want to ask, is this applicable to Countries like UK & America.

Why must we answer one Nigeria when every body knows where they belong to. This is the reason Ethnicity remains a Problem in Nigeria.

...He added that Okechukwu Enelamah should have been appointed minister of finance instead of Kemi Adeosun from Ogun State.

Whathaveidone:
Anywhere you sha go, just dey snap pishure like cameraman

Whathaveidone:
Pauljohn1 i saw the Osun state pictures you posted,very beautiful.Please we need more of that.Unedited too

itstpia8:
https://i.ytimg.com/vi/huTTYL4OXmE/hqdefault.jpg


https://www.youtube.com/watch?v=huTTYL4OXmE


https://www.youtube.com/watch?v=BEsc5vaZd7Q

the capital is called Abeokuta (under the hill/rock).

Shymm3x:
I like these green fields but a lot needs to be done in Oshogbo.

WIZGUY69:
OK.




OK.

still akure!

WIZGUY69:
IMHO am not impress with Oshogbo.
OK, which area is the high brow area of Oshogbo.??

WIZGUY69:
it will be difficult to guess o we have many towns & cities in Yoruba land.

fine A town in Ogun

WIZGUY69:
haba. we are one.
which town is that?

WIZGUY69:
Am telling you.
For a vast city like Ibadan that needs flyovers like madt. I bet the number of flyovers in Ibadan is more than 10. flyover is still part of development you know that.

WIZGUY69:
This flyover connects to Oyo state Secretariat complex. very neat monument. but the insane idea is that: it's always on lock (there's a mini gate there) the only people/personalities permitted to pass through it are top govt officials and the state governors. a very foolish idea.

Rossikk:
If it is harnessed, it would draw MILLIONS of tourists to Nigeria every year. Ogun state would make billions of dollars per annum. But their govt prefers to do nothing but collect their tiny federal allocation from Abuja to fight over.