"Nigeria Autos Report Q3 2014" now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Mon Aug 04 2014

Nine months after the Nigerian Automotive Industry Development Plan (NAIDP) was unveiled, the government looks to be reaping the rewards of its strategy to revitalise the Nigerian automotive industry.

Although there has been vehicle assembly in Nigeria before, a lack of clear-cut policy and support for domestic manufacturing saw output collapse from 2003 onward with just a small number of low-volume operations still active. In this respect, the implementation of the new industry policy and the positive take-up by automakers can be seen as the real starting point for a national vehicle production industry. According to the Director General of the National Automotive Council, Aminu Jalal, more than 15 carmakers have expressed an interest in establishing local production operations, including some who are returning to the country as a result of better government policy. Jalal says over 15 companies are ready to start production and generate the expected number of units even though revised auto tariffs will be applicable from July 1 2014 onwards. Auto companies will be given concessions to import two vehicles against every locally make unit to offset the impact of the new policy, says Jalal. NAC is associating with the Standard Organisation of Nigeria to ensure that the produced vehicles comply with global standards of technology and quality. This is also a good time to be supplying the market as a growing middle class has boosted demand for vehicles. BMI data show car ownership has increased from 1.7 cars per 1,000 people to 6.9/1,000 in the decade from 2003 to 2013, and will top 9/1,000 by the end of our forecast period in 2018.

Full Report Details at
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This has prompted the speed with which carmakers are addressing the market. Nissan, which rolled out the first Nigerian-built Nissan Patrol in April, says Nigeria is pivotal to its growth plan for the region, which envisages the brand's sales in Africa doubling by FY2016 from 110,000 units in FY2012. Nissan's head of the Sub-Saharan...

The Nigeria Autos Report features the latest data and forecasts covering production, sales, imports and exports.

Business Monitor International (BMI)'s Nigeria Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Nigeria.

Key Benefits

* Benchmark BMI's independent automotives industry forecasts on Nigeria to test other views - a key input for successful budgetary and planning in the Nigerian automotives market.
* Target business opportunities and risks in the Nigerian automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Nigeria.

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