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Nairaland Forum / Nairaland / General / Car Talk / The Effect Of Fuel Subsidy Removal On The Prices Of Cars (57275 Views)
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Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by chukel(m): 4:51am On Jun 07, 2023 |
May work for Nigerian used cars but not foreign used cars. The cost of importation of foreign used cars has not reduced. In fact, with unified exchange rate, it will increase cos custom duty will increase further. With the reality of inflation (increase in all commodity price), the profit margin dealers fix on foreign used cars will also increase in order to survive. So foreign used cars will become expensive. Nigerian used cars may drop a bit. Only difference is people will import less of V6, V8 and go more of 4cyl way. That will increase demand for 4cyl and further drive the price up. |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by chukel(m): 4:54am On Jun 07, 2023 |
organico:wrong advice. |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by saintchidiebere(m): 5:29am On Jun 07, 2023 |
What determines the price of cars is the amount it was bought ,shipped and the high charges by the Nigerian custom for clearing the cars. Fuel or no fuel will not bring the price down. |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by nairalanda1(m): 6:25am On Jun 07, 2023 |
zeenaman: Yeah, I see car prices crashing, as people sell off their petrol guzzlers for more fuel efficent cars... Good analysis. |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by nairalanda1(m): 6:26am On Jun 07, 2023 |
organico: Yeah, looking like that's how things are going to be. |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by Olumaeme: 7:13am On Jun 07, 2023 |
Your example of Garri and kuli kuli is wrong because you can take Garri with groundnut, goat meat, or even alone but cars can't do with anything aside petrol. The price of cars will not come down, if the cost of importation did not come down. Would I sell the car I bought for 5m for 2m because I can't fuel it? Hell No. Or Dealers in US sell to nigeria 50% less because of fuel increase? No. There are several types of elasticity of demand and supply, and for one, price does not change even if an increase or decrease in demand. Lets look at it, fuel price increased from 60-80-147-180-200 before now, did price of cars came down those times? No it didn't, instead the price of Corolla that used to be 800-1.2m is now over 3m. 5 Likes 2 Shares |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by yahmohy27: 7:28am On Jun 07, 2023 |
triple996:By God's grace That is the spirit |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by respect80(m): 7:29am On Jun 07, 2023 |
Nigeria is a different continent on its own so there won't be any crash in prices of cars π |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by Deoboss(m): 11:59am On Jun 07, 2023 |
Vehicle prices will not decrease cause of the higher import duty charges |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by kolaaderin: 2:49pm On Jun 07, 2023 |
slawomir: Dey Play Abuja to Benin on 22 litres of fuel. not even a City and Yaris can pull that stunt. |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by kolaaderin: 3:06pm On Jun 07, 2023 |
Gaabasky:No difference when you live outside Lagos where there is no traffic, especially in Abuja where you hit highways all the time without traffic. But if you live in Lagos, you will definitely see your fuel gauge spindle having competition with your rev-meter. |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by yemi1504: 5:38pm On Jun 07, 2023 |
Tonnierichy: Abi o |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by Gaabasky: 6:22pm On Jun 07, 2023 |
kolaaderin: O.k Where I'm living the traffic wahala is minimal that may accounted for that. Thanks |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by Zaphnath1(m): 7:25pm On Jun 09, 2023 |
Emeka71:have always aspire to have 2 set of car brands rolls royce and IVM |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by Zaphnath1(m): 7:26pm On Jun 09, 2023 |
ugodson: rolls royce is always the first then followed by IVM |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by Parachoko: 4:09pm On Jun 11, 2023 |
ictplotter:Lol |
Re: The Effect Of Fuel Subsidy Removal On The Prices Of Cars by Emeka71(m): 5:07pm On Jun 13, 2023 |
Zaphnath1:Good anyway. |
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