Nigerian Cars Market in March registered another massive gain of 58.4%, selling 2.021 units. The market podium sees on top Toyota with 18.1% of market share, followed by Hyundai - gaining the second place thanks its spectacular performance - and Ford, placing third but still shining with +93.2%.
Nigerian Cars Market in the 2018 approached a recovery after to have collapsed from 57k to 11k in the previous three years. Supported by middle and upper class demand, new vehicles sales grew up at 17.529 units (+71.3%). Toyota is market leader with a total vehicles market share above 23%.
Nigeria Vehicle Market Report 2010-2017 features historical data and insights plus professional forecast on new vehicles sales by type, manufacturer, brand and model providing an easy-to-use picture of current and future competitive landscape.
Nigeria New Vehicles collapsed in the 2017 losing two-third of 2016 volume and landing at 11.000 - including HCVs - almost one fifth of 2014 record. The market is in an embarrassing chaos, with huge cost for import and no room for local production.
Nigeria Auto Market 2016 hit by the deepest economic crisis of the last 25 years and fell down at the lowest level in last 10 years. Over 30 licences released to locally produced are parked for better times. Toyota shining.
Nigeria new cars market slow in the first half 2015 hit by the sharp fall of oil price in the international market while the new government has taken five months to start operating. Toyota led the market ahead of Koreans while over 30 OEMs required licence to produce.
Nigerian Car Market represents the biggest opportunity for Carmakers in OEM considering the huge potential for the country and the availability of natural resources that could help leading the entire sub-saharan area..