L
LequteMan
Guest
The importation of semi knocked down parts (SKDs) and fully built vehicles (FBUs) into Nigeria has dropped by 60 per cent, forced by persisting economic hardship and recession.
Also, automobile sales by makers and dealers are down by 50 per cent, with Nigerians focusing more on food and cutting cost on luxuries.
Managing Director of Toyota Nigeria Limited (TNL), Kunle Ade-Ojo said 2016 is a tough year for the company and the industry.
“Automakers can’t import SKDs and demand has shrunk. Nigerians now have very low disposable income and whenever disposable income is low, demand for vehicles also goes down. People will continue to use the old vehicle they have and do not buy new ones.”
The automakers are now focusing on after-sales services. Ade-Ojo said despite maintaining a four per cent rise in market share in 2016, the company would focus more on after-sale services by January 2017.
Also, automobile sales by makers and dealers are down by 50 per cent, with Nigerians focusing more on food and cutting cost on luxuries.
Managing Director of Toyota Nigeria Limited (TNL), Kunle Ade-Ojo said 2016 is a tough year for the company and the industry.
“Automakers can’t import SKDs and demand has shrunk. Nigerians now have very low disposable income and whenever disposable income is low, demand for vehicles also goes down. People will continue to use the old vehicle they have and do not buy new ones.”
The automakers are now focusing on after-sales services. Ade-Ojo said despite maintaining a four per cent rise in market share in 2016, the company would focus more on after-sale services by January 2017.
