Nigeria’s Auto Industry is expected to import and sell between 8,000 and 10,000 new vehicles this year, which is lower than the 15,000 projected at the end of last year.
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With an eye on its expansion drive in the Nigerian economy, GAC Motor, one of the brands under the Choice International Group (CIG) in Nigeria, recently marked a milestone when it signed a new business partnership deal with the largest conglomerate not only in Nigeria but in Africa, the Dangote Group.
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Currently building about five units of vehicles on a single shift per day, Dangote Sinotruck West Africa Limited has revealed its first set of locally assembled truck in Lagos.
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Olaoluwa Ogundipe, Principal Technical Assistant with the National Automotive Design and Development Council, has called on the Federal Government to ensure that Ajaokuta Steel Company functions at full capacity. Ogundipe told the News Agency of Nigeria (NAN) in Abuja that the company had lot of steel metal that could be used for automobile industry. “If Ajaokuta steel is functioning, there […]
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The House of Representatives says it will review the National Automotive Policy, in order to set an effective implementation framework and incorporate a number of suggestions offered by local automakers and other stakeholders in Nigeria. The lawmakers made the resolve as industry players in the automobile sector sought for a ban on importation of used vehicles through land boarders. Speaking […]
Continue reading »The Corps Marshal of the Federal Road Safety Corps (FRSC), Mr Boboye Oyeyemi, on Monday said all commercial vehicles coming into the country from January 1, 2017 must be fitted with speed limiter. Oyeyemi stated this in Kaduna when he visited the FRSC Sector Command for routine interaction with personnel to strengthen operational duties and general service delivery. Oyeyemi represented […]
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R.T. Briscoe Plc. has said it has no regrets losing the 11-year old business relationship it had with the Ford Motor Company under its BriscoeFord automotive subsidiary. The company said this, recently, in reaction to Ford Motor Company’s decision to retain Coscharis Motors that was sharing the dealership with Briscoe as its sole representative in Nigeria. Ford Motor Company had […]
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To improve access to new vehicles and promote the patronage of locally assembled vehicles, the Federal Government, through the National Automotive Design and Development Council (NADDC) has announced plans to unveil a credit purchase scheme for Nigerians to purchase such vehicles. According to the Director, Policy and Planning, Luqman Mamudu, the council is contributing about N7.5 billion interest free rates […]
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German auto giant Volkswagen said on Monday it would halt production at six plants for several days as a legal dispute with two key suppliers deepened. Around 27,700 workers at factories in Emden, Zwickau, Kassel, Salzgitter, Brunswick, and the firm’s home base of Wolfsburg would see their work hours slashed by the end of August, the group said in a […]
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SIFAX Group, a multinational corporation with diverse interests in maritime, aviation, haulage & logistics, oil & gas and hospitality, on Friday launched its one-stop-shop vehicle importation service. The service kicked off with the formal reception of the first vessel, ‘MV Glovis Supreme’, at the Ports & Cargo Handling Services Ltd. Terminal, Tin-Can Island Port, Lagos.
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Two factors, scarcity of foreign exchange and increase in import duty, are largely responsible for the rise in prices of imported new vehicles. Already, the prices have risen astronomically in the last one year. Investigation by our correspondent shows that the price hike cuts across all segments and it affects virtually all brands. The Managing Director, TNL, Mr. Kunle Ade-Ojo, […]
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The Oluwo of Iwo land, Oba AbdulRasheed Akanbi, has urged President Muhammadu Buhari, governors of the 36 states and members of the National Assembly to start using vehicles assembled in Nigeria. Oluwo, who said this in an interview with our correspondent in Osogbo on Tuesday, said this would help the local automobile companies and boost the nation’s ailing economy.
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