Nigerian Cars Market in the 2019 the light vehicles market was back in difficulties, following the fast recover shown in the previous year and sales declined 35.3% at 11.300 units, the second worst level in the last decade.The market is not supported by the economic environment, considering Nigeria is hit by the low global crude oil price and the non-oil sector is disappointing.
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 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.