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Nairaland Forum / Nairaland / General / Car Talk / FG To Slash Levy On Imported Cars To 5% From 35% (51808 Views)
N1000 Vehicle Proof Of Ownership: Nigerians Reject Newly Imposed Levy / China Begins Export Of Second Hand Cars To Nigeria / Automobile Workers Kick Against FG Move To Slash Vehicles Duty To 10% (2) (3) (4)
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Re: FG To Slash Levy On Imported Cars To 5% From 35% by dfrost: 12:37pm On Nov 22, 2020 |
Greek gift? We will soon know. 1 Like |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Munzy14(m): 12:38pm On Nov 22, 2020 |
Officialgarri:Innoson placed his products above average. I keep advising colleagues, if your products is not affordable for the rich and below, then u are not doing business. I saw one of his salon cars he placed on 5M. But that 5m can get one two clean toyota spiders from Outside with huge balance after clearing. 12 Likes 2 Shares |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Polaris1: 12:38pm On Nov 22, 2020 |
Good. Next should be Improving the bad roads. |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Splitmind: 12:39pm On Nov 22, 2020 |
Yenefer: I tell you Sai Baba forever! Because of Buhari we are living better than Dubai. Fuel is just 40 naira/litre. There is 24/7 electricity in every local government. Roads are like those of Amsterdam. You can leave a million naira at a bus stop and no one will take it because we are so secure in this country. All thanks to Buhari . 4 Likes |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by BuddhaPalm(m): 12:39pm On Nov 22, 2020 |
Simplyleo: 70% on imported vehicles is ridiculous. With this reduction, you'll still be paying 35% + 10%. No be my force to buy Innoson. 2 Likes |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Yadid(m): 12:39pm On Nov 22, 2020 |
Hmmnnn levy reduction will most likely lead to a reduction in the price of imported vehicles. That will in turn make vehicles more cheap and affordable for citizens. As vehicle owners increase in the country, fuel consumption increases which leads to more sale of PMS and other benefits economically. Simple stuff. 3 Likes |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Unrated900(m): 12:39pm On Nov 22, 2020 |
Simplyleo: Why are you people the target Are you people the only tribe in Nigeria niiii 1 Like |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by xjiggy: 12:40pm On Nov 22, 2020 |
Those shouting they want to kill IVM, is IVM vehicles affordable? Even with the high rate for clearing vehicles, it's cheaper to get a fairly used Lexus es 350 with low mileage than by a saloon car from IVM. IVM vehicles cannot be competing with brand new Toyota and Honda cars and expect to sell. If IVM wants to succeed, they should go into the production of tricycles and mini buses. Something that's affordable for the masses. The Chinese mastered this act decades ago and still apply it today. The best midrange phones are made by the Chinese. Not because the cannot make top notch phones but because they're targeting a wider audience. IVM should know most Nigerians will not buy their SUV for 9 million when they can get a clean Tokunbo 2015 highlander for same price. 8 Likes 2 Shares |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by 2cribz: 12:40pm On Nov 22, 2020 |
Hahahahaha,now we go dey see corrolla for 1.5m, 4matic for 2.5m,and the rest them. Lexus es,rx prices bout to drop. Hahahahahha. Venza go enter 3m... Hahahahahahaha The end iz here. All those greedy car dealers go begin frown now. Hahahahahahaha 13 Likes |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by TinubuGoQuench(f): 12:40pm On Nov 22, 2020 |
ethicallyright: SHUT UP!!! NA RUBBISH U DEY YARN SENSELESS REASONING |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Fuckjesusandgod: 12:40pm On Nov 22, 2020 |
ethicallyright: very apt, respect! 1 Like |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Justdare: 12:41pm On Nov 22, 2020 |
omenka: In my almost 30 years in business, I have daily asked the same question and still hoping for an answer. 3 Likes |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by leonard002(m): 12:41pm On Nov 22, 2020 |
Very good. Car price will come down significantly. 1 Like |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by BuddhaPalm(m): 12:41pm On Nov 22, 2020 |
heed101: More people will also drive safer cars. 3 Likes |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Nobody: 12:41pm On Nov 22, 2020 |
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Re: FG To Slash Levy On Imported Cars To 5% From 35% by FUSS: 12:42pm On Nov 22, 2020 |
OK oh! But what would have benefited the common man more is removing ban on importation of rice or food and not cars. 1 Like |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Attit: 12:42pm On Nov 22, 2020 |
I'm not a fan of Buhari, and I do not think its targeted at Innosson. Govt must just find a way to increase revenue by all means to get out of recession. The only issue is that corruption is still there. If they remove it, let them bring import tax to zero %, reasonable number of people will still go for Innoson cos the economy will favor it too to make better vehicles. 2 Likes |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Nobody: 12:42pm On Nov 22, 2020 |
Better... More people will be able to afford cars instead of relying on the public transport. It would also increase government revenue cos people won't bypass Lagos port... This is a welcome idea! |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by symbianDON(m): 12:44pm On Nov 22, 2020 |
this is a welcome decision if it sails through. it will crash the unreasonable astronomical prices of tokunbo cars. imagine buying a 10 year old toks car for 3m! at the same time, it will cause local car assemblies and manufacturers to up their games and become more innovative in sourcing their raw materials. 1 Like |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Attit: 12:45pm On Nov 22, 2020 |
BuddhaPalm:Please how is it 35% + 10%? Could you explain further? 1 Like |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Rugaria: 12:45pm On Nov 22, 2020 |
OneTemplate: Haulage costs are high because of bad roads, high cost of pms and the unbelievable delays at the ports! Has little to do with the cost of importing bulk head which can be defraid with just 5 to 6 business trips from say Lagos to Onitsha! It cost over a million naira to transport a container from Lagos to the east! It was lower by more than half to do so about 6 years ago with the same duty quotation on bulk heads! So What changed? Naira depreciation, fuel hikes, rising cost of other services related to the haulage business and of course bad roads! Not that I'm praying for bad results but may God keep us alive, if there are no significant changes on these areas, I will be here to remind folks like you on how you turned Nigeria into a dumping ground for used vehicles while not really making any dent on costs of transportation! This policy is mainly targeted at family cars like sedan and SUVs. How many bulk heads are imported on daily basis and if there is an urgent need to reduce the charges on bulk heads, can't that be done without a blanket policy that destroys local ability to manufacture other brands of vehicle? You rant and rail about those posting with tribal motives, yet you haven't been able to explain to us why you support total ban on the importation of rice while not supporting any sort of ban on cars! We are waiting.. 4 Likes 2 Shares |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by pacespot(m): 12:45pm On Nov 22, 2020 |
Now it remains to be seen if those greed custom agents will be in full compliance of this new bill, and their illegal extortion must be stopped. These are the major reasons why the costs of production and prices of goods are so high in the country. |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Nobody: 12:46pm On Nov 22, 2020 |
Rugaria: Factual 1 Like |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by einsteine(m): 12:46pm On Nov 22, 2020 |
primestreams: Proforce, a Nigerian company, produces vehicles for the Nigerian military. Innoson's biggest customer is currently the Nigerian government. I might also add that blackmail and blame games are Innoson's top marketing strategies. 6 Likes |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Nobody: 12:46pm On Nov 22, 2020 |
Munzy14: Don't mind that one. He has turned it to a tribal affair. How many of Innoson's vehicle are affordable? Should they make a policy affecting 200 million people because of 1 man? When you tell people this, they talk about Dangote and how govt banned cement importation but they forgot we always had several competent cement manufacturers like Ibeto Industries (Igbo), Lafarge, Dangote and even PureChem. The auto industry is suffering and cars are not affordable... That's the fact. Majority of Nigerians rely on used imported vehicles for cost and durability. 5 Likes |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by ggood: 12:47pm On Nov 22, 2020 |
Good development at least we can now buy car in peace and at cheaper rate, Fg Niger Delta need thier own working Sea port from Niger Delta region to Lagos is too far. how can I stay in Portharcourt, Calabar, Uyo and I transport myself to Lagos just clear my container meanwhile we have Atlanta ocean very close to us |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by Badonasty(m): 12:48pm On Nov 22, 2020 |
lol.... people are funny sha......how many of the people defending Innosson have actually been in an Innosson vehicle before not to even talk have buying it....in this Lagos wey we dey i have two friends that bought brand new IVM and they are even yoruba guys....the first guy that bought it recommended it to us and like play like play another of our friend bought a brand new IVM.... its just the mentality of Nigerians that foreign products are always better and we like forming big men...like someone that said people using london used iphone feel more superior than peeps that bought brand new tecno or infinix 5 Likes |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by poiZon: 12:49pm On Nov 22, 2020 |
High-cost of transportation isn't solely cause by import duties but by the high cost of fuel. Bad roads, insecurity etc. When a transporter knows that the cost of ferrying 8passengers to and from Uyo to Abuja initially costing 5k at time frame of 8hrs with fuel consumption of 35litres has increased then they have to increase their fate to still be in business. Even if I buy a car at 200k against 600k, what will keep me in business is the cost of fueling the car, the road am plying and the security provided by the state and also the levies each union are getting, these factors determine the prices of goods and services in the country not what happens in the port of entry. 7 Likes 1 Share |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by showafrica(m): 12:50pm On Nov 22, 2020 |
ogododo: Pls. Someone should explain in a laymans language. Does this news mean that those cars Amdman is bringing for 1.7m can now come with 1m? 1 Like |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by saajus: 12:51pm On Nov 22, 2020 |
You are right. Necessity is the mother of invention. Innoson should task its R& development on how to bring down their prices and compete. This Govt is not ready to help local manufactures. I know FG is targeting Benin Rep. Benin Rep economy is built on Nigeria. Unfortunately, they are not helping us at all. Rugaria: 2 Likes |
Re: FG To Slash Levy On Imported Cars To 5% From 35% by chidexleo: 12:52pm On Nov 22, 2020 |
Buhari you are the man. Thank you. I have always known that you mean well for Nigeria 2 Likes |
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