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Automotive Report Nigeria

  • ID: 2101560
  • Report
  • March 2017
  • Region: Nigeria
  • 12 Pages
  • The Economist Intelligence Unit
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The local motor vehicles market is large by Sub-Saharan African standards but tiny compared with markets of similar size (a population of over 180m) outside the continent. However, new vehicle sales, at just under 25,000 last year, fail to reflect actual market activity, since up to 300,000 used vehicles are brought into the country each year, many of them illegally.

Car sales more than halved in 2015, and shrank by an additional 23% in 2016, falling to their lowest levels since the 2007-08 global financial crisis. The Economist Intelligence Unit expects sales to stabilise at 20,000 this year, with a stronger rebound beginning in 2018. We expect car sales to grow at a compound annual growth rate (CAGR) of 8% during 2017-21.

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) has encouraged foreign carmakers to establish small local production plants. Still, domestic output remains low, as even modest domestic production capacity is underutilised.

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: 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