₦airaland Forum

Personal opinion:

The relationship between cars and Petrol is complementary in nature. Complementary in the sense that, one is needed to augment the other, just like garri and kulikuli.

Going by basic economics principle, there is an inverse price relationship between complementary goods i.e an increase in the price of one results in decrease in the demand for the other. With this, it is conceivable that with increase in the price of petroleum, there will be less demand for cars, hence result in price crash occasioned by excess supply over demand.

Also, from the angle of the Federal government, the rich benefit more from the subsidy. People with ten cars will now find it unfunny fueling the convoy, and this may result in selling off some of the vehicles. This should further increase the supply of cars and drive down the price.

Let's talk about this, do you see the price of cars crashing? Let's leave out the Nigerian factor, corruption and base our argument on fact.

ftc
dedicated to my dream car





SHALOM

Definitely the price of cars will crash

Especially the V6 and V8 SUVs

zeenaman:
Personal opinion:

The relationship between cars and Petrol is complementary in nature. Complementary in the sense that, one is needed to augment the other, just like garri and kulikuli.

Going by basic economics principle, there is an inverse price relationship between complementary goods i.e an increase in the price of one results in decrease in the demand for the other. With this, it is conceivable that with increase in the price of petroleum, there will be less demand for cars, hence result in price crash occasioned by excess supply over demand.

Also, from the angle of the Federal government, the rich benefit more from the subsidy. People with ten cars will now find it unfunny fueling the convoy, and this may result in selling off some of the vehicles. This should further increase the supply of cars and drive down the price.

Let's talk about this, do you see the price of cars crashing? Let's leave out the Nigerian factor, corruption and base our argument on fact.

The laws of economics hardly work in Nigeria, probably because of excessive greed.

The price may not crash as expected.

Price crash my foot. Cost of toks cars dey go up,cost of naija cars sef go be like between diesel and petrol price. Hahahahaha. Emi lo kan is here stay. Dangote refinery must catch fire

Dreaming that fuel price will crash car price using economics principles? Dey play

zeenaman:
Personal opinion:

The relationship between cars and Petrol is complementary in nature. Complementary in the sense that, one is needed to augment the other, just like garri and kulikuli.

Going by basic economics principle, there is an inverse price relationship between complementary goods i.e an increase in the price of one results in decrease in the demand for the other. With this, it is conceivable that with increase in the price of petroleum, there will be less demand for cars, hence result in price crash occasioned by excess supply over demand.

Also, from the angle of the Federal government, the rich benefit more from the subsidy. People with ten cars will now find it unfunny fueling the convoy, and this may result in selling off some of the vehicles. This should further increase the supply of cars and drive down the price.

Let's talk about this, do you see the price of cars crashing? Let's leave out the Nigerian factor, corruption and base our argument on fact.

Hmmm... Its supposed to force down demand on big engine cars (especially) and as such price fall.

However, this is Nigeria and most times issues like this usually defy any economic reasons.

Let's watch and see.

zeenaman:
Personal opinion:

The relationship between cars and Petrol is complementary in nature. Complementary in the sense that, one is needed to augment the other, just like garri and kulikuli.

Going by basic economics principle, there is an inverse price relationship between complementary goods i.e an increase in the price of one results in decrease in the demand for the other. With this, it is conceivable that with increase in the price of petroleum, there will be less demand for cars, hence result in price crash occasioned by excess supply over demand.

Also, from the angle of the Federal government, the rich benefit more from the subsidy. People with ten cars will now find it unfunny fueling the convoy, and this may result in selling off some of the vehicles. This should further increase the supply of cars and drive down the price.

Let's talk about this, do you see the price of cars crashing? Let's leave out the Nigerian factor, corruption and base our argument on fact.

My friend put up his 2008 Nissan Pathfinder for sale since April, as of last week, people were pricing it N1.5m - N1.6m which he didn't agree. Yesterday, two different individuals came to price it N900K and N1.1m and all their excuse was fuel price. My friend is regretting not selling it off last week at N1.5 or N1.6m.
This subsidy removal also has the tendency of raising the prices of small cars with high gas mileages such as Corolla, Civic etc while discouraging heavy consumers like my friends 4.0L V6 Nissan Pathfinder especially Naija used ones.

Civic, city and Corolla price will increase.

Not just only car. If this new price will stand. It will Bleep this tinubu government.

Tinubu government doesn't need infrastructure. All the infrastructure buhari borrowed money was wasted at the detriment of the economy. Car price is will go up as transport increases and motet part’s follows.
Nothing can crash car price when custom charge is above the roof.

What tinubu need is rearrange the economy.

Because with what I am seeing it's about to get tough.

The earlier you realize NO LAW works in Nigeria, the better. If I can afford 10 cars, then fuel is the least of my problem.
What car mean to a White man is different from what it mean to a Black Nigerian.

Nothing will crash, cars are imported.

Damnnn niggar
I don't see any car price crashing

Nothing will crash stop playing ...we are just too greedy in this part of the world

Before the removal of subsidy...a lexus es 350 V6 was sold for between 6.5 million to 7.4million

Go and check again now or wait after one month and check again

Am even thinking people will now buy thier own cars now that fuel price gone up which means public transport will double plus the uncomfortable atmosphere that comes with public transport ...where them dey carry for 200 naira before na 400 naira

From Abuja to Benin city with God is good motor na 27000 thousands naira now...so it will be better you just fuel your own car with 12000 naira and drive from Abuja to Benin city

G

We will survive

Have nothing to add... But think something is wrong with the headline

The only thing constant is changes

I won't be moved if e no lower the price of okada and napep also.

Fuel-economy will now be a major factor for most Nigerians in buying a car.
So demand for such cars as Corolla will increase, & so also the price.

Hmmmm

W

Ibadan drivers deserve some accolades. They've not hiked their fares too much. I wonder how they cope those ones.

No traffic in Lagos since this thing don start

Zaphnath1:
ftc
dedicated to my dream car





SHALOM

What's your dream car

.. good is good motor

@ op obviously, even BICYCLE SELLERS just inflated Prices.

Here we have a lot of Diesel cars here than petrol, but some major factors determine if u need a car or not, which are maintenance, Tax, MOT, and lastly Fuel. So most of us only use personal cars weekend and opt for Public during the week, its helps reduces expenses, then increase in life span of our cars.

If the Nigeria Federal Government can provide good Transportation services, promptly and adequately connections citizen, I think less of purchasing cars will go down drastically.

So currently, I am not sure the FACT that increase in Fuel will reduce Purchase of car is not relevant in Nigeria, Only thing that this will lead to is hike in prices of Transportation n commodities. Then we can now talk about reduction n discipline in going out to unnecessary places.
As car seller, it will only affect some particular specs or brands in cars
E.g V6, L6 , V8, L8 engine types
Also Brands like LEXUS, BENZ, BMW, GMC are so on.
[b]Increase in prices of Brand like TOYOTA [COROLLA)] ETC, and generally HYBRID & Electric car [/b]can be put into consideration [Nigerians will need Modern technicians to do well , not Kazeem n aje [witch] rewires.

oluwatomiwa:
Especially the V6 and V8 SUVs

EXACTLY my point.

It will not crash, this is Nigeria. It will only crash if the dollar falls against the Naira in the coming days.

I want to learn