I thought there's a round table discussion today by 11am? Why can't all these issues be discussed there too?

GeneralZodd:


The pictures of venza you posted here, prices are still reasonable, like 3.5 million converted to naira. I think clearing is the issue. Though I was told that prices of cars in America has gone up.

Lol

Hope you know the cars will not fly into Nigeria.

Expect to pay $968 in auction charges, $350 to port, $1200 shipping to Nigeria.

By the time the one that costs $6725 lands in Nigeria, you would have spent a total of N5.6m naira. Now add the cost of clearing which should hover around 1.5-2m, add cost of repairs and you're getting close to 8m already.

Dealer never even add profit

donfortune48:


Almost every section increased price as the inflation comes.

RideShare remained same.

Really?! which company u know has increased salary by 300% in d last 5yrs?

Or r u talking about business?
Then give us business analysis of just 1 business (comparable to ehailing) that has flourished inspite of the inflation where the stakeholders have made 200-300% more than they used to do 5yrs ago

pope191:


With regard to what Ghost1994...

Presently we are sitting on gun powder and amost times I ask myself how do people survive. Bread used to be 250 naira, today it is 500 naira, but asking ehailing to increase their money won't do any driver good. Maybe a little twisting would be better.

On ehailing you can make at least 100k weekly, that's 400k in a month. Give and take repairs, commission based on indriver, gas takes 160k and the rest 240k goes to driver as owner driver. The question now is are you OK with 240k as income monthly? How many salary earner take 240k home as of the country we are today? Put in mind they have transportation and clothing to deal with since drivers are known to dress anyhow. Some top level boss takes BTW 500k to 1million, but let's just bring it down to survival level. This month alone I have given out 300k as loan to ndi career people, meaning no where is actually easy. To survive in these country, one needs to activate all his antennas, just keep using madness to port it.


Here is the theory of life in a nutshell: - The Parkinson's Law says that your expenditures rise to meet your income. When you earn more money, your needs become more and you may end up spending more money. So, in order to make wealth, you need to break the Parkinson's law by setting limits.

Have you ever save money to buy bicycle? And you realise the more you save, the increase in price?and the money never get to complete. That's the problem with Corolla of today. I call it the moving money box and the problem starts from new driver that are yet to understand the reality of ehailing, even one of us push for Innoson to partner with them the other day. Investing 3m to buy a car for ehailing may take 2 years or more to get the money back before talking of profit. And most time the profit is selling the car off, waste of time and energy at the end of everything. The car I am using today was bought for 800k and that is what I have been using, I have over used it that the tot of getting another one is already building in my head, in-between exit kept ringing as well. I said to myself, spend 200k bake and fix seems better then using 1.5m to go buy another one. Not all rider cares about your car, it is not as if I have bad rating at such. 4.8 even since means it is good to go.

Take a look at someone in abroad making honest living, sometimes it takes them 10 or more years to raise 20 million. Do you think if you do ehailing for 10years, you can't save between 10 to 15 million? Question for the mind tho

When u keep it real we are always on d same page.
But most times it's either u r on cruise or you are day dreaming.

NB: that's why I encourage people to do HP, price is fixed. cos by the time they are finishing that payment the price of the car has increased. If they were saving to buy it, their estimated price would have changed and money get spirit. It will not sit-down there and be looking at you. If u don't engage it, it will most likely scatter.

kanuisagoat:


Lol

Hope you know the cars will not fly into Nigeria.

Expect to pay $968 in auction charges, $350 to port, $1200 shipping to Nigeria.

By the time the one that costs $6725 lands in Nigeria, you would have spent a total of N5.6m naira. Now add the cost of clearing which should hover around 1.5-2m, add cost of repairs and you're getting close to 8m already.

Dealer never even add profit

The whole rise in price issue is because of devaluation of the Naira. Simple.
Generalzod, do u expect someone to buy market and sell at a loss?

Govt isn't also helping matter, taxation here and there, increasing existing ones and Introducing new ones. These are all the signs of a bankrupt nation. Everything that can go wrong has gone wrong.

Nice post by ghost1994 n donforuntes48

I have said it and will keep saying it, since Indriver came onboard Bolt and Uber became a shadow of themselves.

Indriver is not the kind of competition needed in Nigeria ehailing system.

Mind you comrades, b4 indriver started charging and Uber/Bolt has been having a stiff competition about their price increase... Shebi it was N10/min at some point and Uber was N11/min and N65/km while Uber was N67/km but now its about 70+/km or thereabouts.

Remember when fuel was increased we and one of jpworld 's last comment on this thread was that the partial increment by Uber/Bolt commensarate the increase of pump price from N145 to N165 or thereabouts... I wonder if that guy is still in business now self... I'd really like to know but that's by the way tho.

So indriver is the killer to ehailing business and if Bolt and Uber don't find a strategy to take this guys off I'm afraid the business will die in a matter of years to come, because drivers who are the frontiers are not making any profit anymore it's only a matter of time b4 many drivers start realising this.

How do you expect Bolt/Uber to increase price when another app is ready to take that same trip for far less? Take for instance I was at lekki gardens axis yesterday and I was just looking at prices on Indriver...

Sangotedo to far Int'L Airport, Ayobo, Alagbado where picked for 4, 5k the highest offer I saw was 5.5k and these offers didn't last 5secs and never came back again unlike b4 you'll see them come up again if you don't getrit forget about it

Bolt and Uber as well contributed to indriver gaining ground because how in heaven sake would you block a driver who has completed over 2000 trips in less than 8months and all they can say is cancellation and rating... That's nonsense!!!

This left a lot of drivers with no other choice than jump ship because they've to make ends meet and it tied them to what they call freedom, no completion rate, no cancellation rate, no acceptance rate, nothing.

Even bolanle like better thing

What I think Uber/Bolt should start from to push indriver to the edge is for them to first change their policy of blocking drivers, then unblocked all drivers and give them a bumber bonus to come back onboard, then start introducing surge especially on Mondays, Fridays and week ends. Me I don't belong to the school of thought that it's absence of drivers that make up surge... These things can be manipulated.

Doing this will send a signal to indriver as well to increase their own price to stastoscope.

The most annoying one is the festive period, the other time I said out of about 9trips I completed in December period only 2 where surge and the surge was not even up to 1.9x but pearl1910 argued it's not possible. I just ignored...thank God he's a veteran in the job, can he compare his last December earnings to previous once? The margin will shock anyone.

Indriver is to blame not just the system because Uber/Bolt can't hike price just like that otherwise riders will dump their app and go to a cheaper one where they know even traffic won't change the price

Pearl1910:


U don call me put for your post abi.
Okay o. Tell us which other work should we do now that we can make money and it will not be affected by inflation cos the last I checked everybody is complaining, it's not about Bolt driving, all sectors of d economy is in a crunch.

This is one of the reasons I always arguewith you. Always praising bolt as if its the best to happen.

I get this every Monday.
It's small but I have peace of mind to do better things.

kanuisagoat:


Lol

Hope you know the cars will not fly into Nigeria.

Expect to pay $968 in auction charges, $350 to port, $1200 shipping to Nigeria.

By the time the one that costs $6725 lands in Nigeria, you would have spent a total of N5.6m naira. Now add the cost of clearing which should hover around 1.5-2m, add cost of repairs and you're getting close to 8m already.

Dealer never even add profit

you sound like a Car dealer . Good analysis

kanuisagoat:


Lol

Hope you know the cars will not fly into Nigeria.

Expect to pay $968 in auction charges, $350 to port, $1200 shipping to Nigeria.

By the time the one that costs $6725 lands in Nigeria, you would have spent a total of N5.6m naira. Now add the cost of clearing which should hover around 1.5-2m, add cost of repairs and you're getting close to 8m already.

Dealer never even add profit

a sad reality many don't understand

Adding to the fact that most of these cars stay at the dealership for years b4 buyer even come oh.

Dealership business is a big risk a lot of their money is being tied down and many rot away.

Reason most of them are doing 9ja used cars these days and the price will also reflect as well

73O9:


This is one of the reasons I always arguewith you. Always praising bolt as if its the best to happen.

I get this every Monday.
It's small but I have peace of mind to do better things.

Even though this doesn't answer my question but I like positive arguments
U invested 8m and u r getting 28k weekly?!
Correct me if I am wrong before I proceed.

73O9:


I get this every Monday.
It's small but I have peace of mind to do better things.

Which one be this again guy, how much did you invest to get such amount in a week?

tobisunday:


I've been wondering for a while now no disturbance though I have doctor's report.

I'm only scared of VIO because my tire is expired and I no too gather for now and I also don't have LASDRI and hackney permit.

It's worn out tyres that is an offence last I checked. Not expired.

Gentlelife50:

Does VIO check tires too? I don't think so, and as for the lasdri and what not guy they suspended it for now.
You don't have to let them know you're Uber.

Are you certain about the suspension, I can't find any concrete information supporting it. We all know if you ask officials they'll say you should get it. So would like to know for certain. I don't have only Hackney.

Fresh85:


It's worn out tyres that is an offence last I checked. Not expired.

Lolzz.

Where did you check?

Pearl1910:


The whole rise in price issue is because of devaluation of the Naira. Simple.
Generalzod, do u expect someone to buy market and sell at a loss?

Govt isn't also helping matter, taxation here and there, increasing existing ones and Introducing new ones. These are all the signs of a bankrupt nation. Everything that can go wrong has gone wrong.

100%

When you have time, check car threads on nairaland between 2016-2018, 2012-2014 cars were like 4-5m naira and a lot of people were buying them

Now in 2022, na only politicians and their cronies dey buy 2018 cars

Felicity001:


a sad reality many don't understand

Adding to the fact that most of these cars stay at the dealership for years b4 buyer even come oh.

Dealership business is a big risk a lot of their money is being tied down and many rot away.

Reason most of them are doing 9ja used cars these days and the price will also reflect as well

This is why I can never go into that business

Check auto section you will see cars that have been on sale since 2019/2020. The OPs are still typing available, available on each post

73O9:


This is one of the reasons I always arguewith you. Always praising bolt as if its the best to happen.

I get this every Monday.
It's small but I have peace of mind to do better things.

The interest rate is above industry standard. Where are they getting the 20% they are paying you?

I hope you don't wake up one day to realise the money is gone

GeneralZodd:
you sound like a Car dealer . Good analysis

I considered being a car dealer briefly but the stress no be here

I have bought a lot of toks vehicles for myself, friends, colleagues and family members so I have a very good idea how things work

73O9:


This is one of the reasons I always arguewith you. Always praising bolt as if its the best to happen.

I get this every Monday.
It's small but I have peace of mind to do better things.

This is Branch. I use Piggy though.
Might port to this Branch o.

kanuisagoat:


The interest rate is above industry standard. Where are they getting the 20% they are paying you?

I hope you don't wake up one day to realise the money is gone

Probably a loan app/bank/company that is giving loans at 30-100% pa.

And if it's not a bank, he will wake up one morning to withdraw his capital and stories will enter.
High risk, low reward.

davit:


This is Branch. I use Piggy though.
Might port to this Branch o.

Ha...!!! Branch loan app.
Okay o. I rest my case.
And baba say he has rest of mind.
Una get mind o. God forbid bad thing.
No no no I can't even imagine it sef...get thee behind me satan

Pearl1910:


Probably a loan app/bank/company that is giving loans at 30-100% pa.

And if it's not a bank, he will wake up one morning to withdraw his capital and stories will enter.
High risk, low reward.

Jesu.

And the guy say e get peace of mind, the end of this one fit be rest in peace self.

Those guys are definitely involved in some low key ponzi. I hope he withdraws his money before its too late.

......

davit:


This is Branch. I use Piggy though.
Might port to this Branch o.

Don't be swayed by unrealistic and unsustainable interest rates. When investing, the safety of your funds should be your priority

As one oga in the stock thread will always say, you may not make money from Branch today but when it all comes crashing down and it will, you will not lose money

kanuisagoat:


This is why I can never go into that business

Check auto section you will see cars that have been on sale since 2019/2020. The OPs are still typing available, available on each post

You dey talk 2019/2020 wey dey backyard here? Most of them have been there since way back 2014/2015 with capital all tied down... That one no be business at all

kanuisagoat:


The interest rate is above industry standard. Where are they getting the 20% they are paying you?

I hope you don't wake up one day to realise the money is gone

Azin enh... All these Ponzi scheme... MMM comes to mind

ReadaDream:
......

Seems the beamlight is on Indrive now,

Tbh, Indrive is damaging the eco system for ehailing. Ridiculous rates, Haba, how do you give riders so much power to determine prices arbitrarily in a city like Lagos.? There should be a threshold. ( riders shouldn't go below , maximum 10% of the recommended fare).

How can you allow riders to delete recommended fares, then give drivers options to accept a marginal increase of ₦100.

The reason is not far fetched, they haven't paid anything to LASG, that's why, if they paid registration in millions to LASG, nobody will teach them on how to stop displaying stupid fares.

Though, there should be a proper channel through which LASG can achieve this, not through this agbero strategy, that aprroach is really lame (with all the pacesetter status of the state) if it's coming from LASG.

Pearl1910:


When u keep it real we are always on d same page.
But most times it's either u r on cruise or you are day dreaming.

NB: that's why I encourage people to do HP, price is fixed. cos by the time they are finishing that payment the price of the car has increased. If they were saving to buy it, their estimated price would have changed and money get spirit. It will not sit-down there and be looking at you. If u don't engage it, it will most likely scatter.

My and you on the same page? Pearl be careful! And you have started again, you are the one saying I am day dreaming now.

Well! I will never support HP, for me HP is if the owner of the car wants it to work for you, else unforeseen circumstances will frustrate the living hell out of the driver. Ghost1994 said something about getting a Honda civic 07 for 1.1m, hope I am right. I'll prefer a rental as long as I can save like 100k monthly, in 8 months I should b able to draft something good with loan of around 400k from friends and family to pick another start. That loan can be clear within the space of 3 months for a driver that knows what he or she is doing.

northbird:


Seems the beamlight is on Indrive now,

Tbh, Indrive is damaging the eco system for ehailing. Ridiculous rates, Haba, how do you give riders so much power to determine prices arbitrarily in a city like Lagos.? There should be a threshold. ( riders shouldn't go below , maximum 10% of the recommended fare).

How can you allow riders to delete recommended fares, then give drivers options to accept a marginal increase of ₦100.

The reason is not far fetched, they haven't paid anything to LASG, that's why, if they paid registration in millions to LASG, nobody will teach them on how to stop displaying stupid fares.

Though, there should be a proper channel through which LASG can achieve this, not through this agbero strategy, that aprroach is really lame (with all the pacesetter status of the state) if it's coming from LASG.

A state government cannot shut down an App.
Only Federal govt can stop d app/website from working in Nigeria.
They don't have an office to go n shut down their activities, even if they did, they can still close and leave the App working.
U can't tell riders not to use Indriver, or arrest them for patronizing a company "operating illegally"
So the only stakeholder LASG can lay their hands on are the drivers.
It's d drivers that are keeping the app working.

.

pope191:


My and you on the same page? Pearl be careful! And you have started again, you are the one saying I am day dreaming now.

Well! I will never support HP, for me HP is if the owner of the car wants it to work for you, else unforeseen circumstances will frustrate the living hell out of the driver. Ghost1994 said something about getting a Honda civic 07 for 1.1m, hope I am right. I'll prefer a rental as long as I can save like 100k monthly, in 8 months I should b able to draft something good with loan of around 400k from friends and family to pick another start. That loan can be clear within the space of 3 months for a driver that knows what he or she is doing.

Lolz...agreed but note that the price of that car will no longer b 1.1m in 8months. Before u balance with car bought and no loan on ur head again e fit reach 18months on d job. What's now d difference between u and someone that got a HP for 18-24months?

The difference is guarantee.
Only on HP is d ball in ur court. Owner cannot collect car, if u r paying his money.
On rentals owner can collect his car and give his brother or friend at anytime, even if u r paying more and doing repairs and maintainance for him.

I just see HP as a loan u have to and must pay back. But where will u see loan of 2m without them asking for heaven and Earth.

pope191:


With regard to what Ghost1994...

Presently we are sitting on gun powder and amost times I ask myself how do people survive. Bread used to be 250 naira, today it is 500 naira, but asking ehailing to increase their money won't do any driver good. Maybe a little twisting would be better.

On ehailing you can make at least 100k weekly, that's 400k in a month. Give and take repairs, commission based on indriver, gas takes 160k and the rest 240k goes to driver as owner driver. The question now is are you OK with 240k as income monthly? How many salary earner take 240k home as of the country we are today? Put in mind they have transportation and clothing to deal with since drivers are known to dress anyhow. Some top level boss takes BTW 500k to 1million, but let's just bring it down to survival level. This month alone I have given out 300k as loan to ndi career people, meaning no where is actually easy. To survive in these country, one needs to activate all his antennas, just keep using madness to port it.


Here is the theory of life in a nutshell: - The Parkinson's Law says that your expenditures rise to meet your income. When you earn more money, your needs become more and you may end up spending more money. So, in order to make wealth, you need to break the Parkinson's law by setting limits.

Have you ever save money to buy bicycle? And you realise the more you save, the increase in price?and the money never get to complete. That's the problem with Corolla of today. I call it the moving money box and the problem starts from new driver that are yet to understand the reality of ehailing, even one of us push for Innoson to partner with them the other day. Investing 3m to buy a car for ehailing may take 2 years or more to get the money back before talking of profit. And most time the profit is selling the car off, waste of time and energy at the end of everything. The car I am using today was bought for 800k and that is what I have been using, I have over used it that the tot of getting another one is already building in my head, in-between exit kept ringing as well. I said to myself, spend 200k bake and fix seems better then using 1.5m to go buy another one. Not all rider cares about your car, it is not as if I have bad rating at such. 4.8 even since means it is good to go.

Take a look at someone in abroad making honest living, sometimes it takes them 10 or more years to raise 20 million. Do you think if you do ehailing for 10years, you can't save between 10 to 15 million? Question for the mind tho

Can you please tell my friend who wants to join the biz, roughly how many hours a day and how many days a week he has to put in on the average to make 240k a month as income ? He wants to know if nah wetin he fit do or not.