Nigeria Autos Report Q3 2015 - New Market Report

This report was compiled in mid-March 2015, before the result of the Nigerian presidential election was known. BMI believes that a victory for incumbent President Goodluck Jonathan would be the most positive for the Autos sector in terms of maintaining continuity at a time when new industry policy is being implemented and major carmakers are committing investment. We have held the view since Jonathan came to power that his administration would be supportive of the industry, given that some government ministers were previously local officials in areas where automotive manufacturing collapsed and they experienced the economic and social effects first-hand.

The timing of the election is also important to the continued development of the production sector, as the government is hoping to have passed a bill by April requiring all carmakers that sell 10,000 units a year or more to invest in domestic production. Having this in place, or possibly not if Jonathan loses, could be the difference in attracting millions of dollars more in investment.

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A victory for opposition candidate Muhammadu Buhari could herald a return to the uncertainty surrounding the autos sector and its policy. Although the party is pro-business, there are a number of stakeholders in the industry who either disagree with certain elements of the Autos policy, such as second-hand dealers who will lose out from the 70% tax on imports which will deter car buyers, or who would like to see full implementation of the policy deferred. Buhari could choose to reverse all or some elements of the Autos policy to secure more support with these stakeholders.

One interesting factor for the Autos sector is that some of the outcome will be a domino effect from the election's impact on other industries. Reform of the Power sector, for example, is vital to an industry which is as energy intensive as vehicle production - particularly if more large-scale investment is encouraged by April. In this case, a PDP win and a...

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

BMI Research'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.
* Assess the activities and market position of your competitors, partners and clients via our Competitive Landscape Analysis.



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