Only 350 new vehicles were imported by Nigerian auto firms in the first quarter of this year, which shows a drop of about 90 per cent over 3,500 recorded in the same period last year.
Continue reading »NEW VEHICLE IMPORTS FALL BY 90 PER CENT
Tag: Toyota Nigerial Limited
NIGERIA’S AUTO INDUSTRY TO IMPORT LESS THAN 10,000 VEHICLES IN 2017, SAYS ADE-OJO
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.
Continue reading »TOYOTA REWARDS LOYAL CUSTOMERS, CHAIRMAN CALLS FOR STRUCTURAL ADJUSTMENT
The Chairman of Toyota Nigeria Limited (TNL), Chief Michael Ade- Ojo, has said the current economic recession demands structural adjustment for individuals and corporate bodies to pull through the difficult moments. Expressing optimism that the current difficult moments would not last, he called for caution during times of abundance in order to be able to adjust to any economic shock. […]
Continue reading »EXPECT NIGERIA-ASSEMBLED TOYOTA CARS THIS YEAR – ADE-OJO
The first set of Nigeria-assembled Toyota cars will be rolled out in a couple of months, the Chairman, Toyota Nigeria Limited, Chief Michael Ade-Ojo, has said. He spoke in Lagos at the unveiling of an automobile assembling plant dedicated to the production of two vehicle brands, Toyota and JAC, with a target of 15,000 vehicles yearly. “The semi-knocked down parts […]
Continue reading »VEHICLE PRICES RISE OVER FOREX SCARCITY, HIGH DUTY
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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