Slide of the month August – Vehicle inflows Nigeria

With the upcoming interst in Nigeria of various OEM and after market companies, africon GmbH did a comprehensive study on the Nigerian automitive market with focus on OEM production but also on the local spare parts markets.

One of the key findings has been that the vehicle inflows to Nigeria have dropped significantly due to lack of FOREX but also due to implemented taxes for vehicles. Our recommendation for aftermarket companies:

1. Evaluate the informal markets in Nigeria very closely as “official” companies are hadly present
2. Find a way of taking influence directly in the market by contacts to local players
3. Educate the market on the benefit of buying genuine parts as fakes are dominent in Nigeria

For more information please do not hesitate to contact us on info@africon.de.

 

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