Nigerian Cars Market

Nigeria 2019. Hit by adverse economic trend, the car market dropped 35%

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

Nigeria 2018. Market started to recover in a uncertain environment

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 2017. Market collapsed losing two-third of volume

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 2016. Market hit by deepest economic crisis in last 25 years

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 2015. Imported vehicles collapsed 66%

Nigeria Vehicles Market in 2015 fell down hit by weak economy, social turmoil and low oil price. Despite the 66% fall of imported new vehicles, the start of several local assembly locations sustained vehicles demand.

Nigeria Vehicles Market

Nigeria 2014. New vehicles market up 11%

Nigeria Vehicles Market rose 11% in the 2014 standing below observers expectations despite the start of the new Automotive National Plan. Chinese carmakers are growing fast while the leader Toyota's sales fell down.