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Automotive Report Nigeria

  • ID: 2101560
  • January 2016
  • Region: Nigeria
  • 12 Pages
  • The Economist Intelligence Unit
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The local car market is large by Sub-Saharan African standards, but tiny compared with markets outside the continent. The Economist Intelligence Unit expects the car ownership rate to rise by more than one-quarter by 2020, but, at 38.7 per 1,000 population, it will remain substantially below that of South Africa. However, since second-hand cars imported through the black market do not appear in these data, actual car ownership is much higher.

Factors contributing to a rise in car ownership are population growth, which remains extremely high, and GDP growth averaging 4% a year. However, incomes are constrained by falling oil prices, which will affect export earnings. Terrorist insurgency, and what many believe is an inadequate response to it by the government, could also hit economic growth and investment.

Peugeot Automobile Nigeria (PAN), a unit of PSA Peugeot Citroën (France), used to be the only major domestic producer of passenger vehicles. However the Automotive Industry Development Plan (2013-24), which was approved by the previous government, has encouraged foreign carmakers to establish small local production plants although output remains low.

Industry List: Automotive, Automotive, Commercial and other vehicles, Automotive, Fuel sources, Automotive, Passenger vehicles
Industry Codes (NAIC): 336
Industry Codes (SIC): 37

Note: Product cover images may vary from those shown
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Automotive Report Nigeria

Automotive report

Automotive report: Overview

Automotive report: Passenger cars

Automotive report: Commercial and other vehicles

Automotive report: Production

Automotive report: Fuel sources

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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