Temitope
Temitope Akinola
U.S. automaker, Ford Motor Company has said by the fourth quarter of this year, it will start assembling its best-selling Ford Ranger pickup truck in Nigeria as it expands in Africa and the Middle East.
The plant which is situated at Ikeja will assemble the Ford Ranger using parts and components imported from South Africa. The plant will have the capacity to assemble up to 5,000 units annually, which will be sold in Nigeria. The Ford assembly plant in partnership with its dealer, Coscharis Motors Limited will be the first outside South Africa, where the company will produce the Ranger pickup for 148 markets.
According to Jeff Nemeth, the president, and CEO of Ford Motor Company's business in sub-Saharan Africa, Nigeria is a priority market for Ford in the region. He said depending on how Nigeria develops over time, the company is looking at using its Nigerian plant to service West Africa.
He added that the auto market in Nigeria has huge potential but retails only a small amount of new vehicles annually as the sector is being dominated by imported used vehicles. The limited financing for consumers to buy new vehicles and the absence of an industrial policy that would encourage suppliers to set up in Nigeria have stunted growth.
Auto manufacturers like Renault-Nissan, Volkswagen have also announced plans to assemble vehicles in Nigeria.
Nairametrics
The plant which is situated at Ikeja will assemble the Ford Ranger using parts and components imported from South Africa. The plant will have the capacity to assemble up to 5,000 units annually, which will be sold in Nigeria. The Ford assembly plant in partnership with its dealer, Coscharis Motors Limited will be the first outside South Africa, where the company will produce the Ranger pickup for 148 markets.
According to Jeff Nemeth, the president, and CEO of Ford Motor Company's business in sub-Saharan Africa, Nigeria is a priority market for Ford in the region. He said depending on how Nigeria develops over time, the company is looking at using its Nigerian plant to service West Africa.
He added that the auto market in Nigeria has huge potential but retails only a small amount of new vehicles annually as the sector is being dominated by imported used vehicles. The limited financing for consumers to buy new vehicles and the absence of an industrial policy that would encourage suppliers to set up in Nigeria have stunted growth.
Auto manufacturers like Renault-Nissan, Volkswagen have also announced plans to assemble vehicles in Nigeria.
Nairametrics
