Operators of the automobile sales business have said that since the introduction of the national automotive in 2013 by former President Goodluck Jonathan ,sales of fairly-used vehicles in Nigeria has nosedived drastically.
The dealers also said that there have been sharp drop in sales in the third quarter of 2016, saying the drop has been continuous since the policy was introduced.
Speaking with Auto Port Weekly in Lagos, recently, General Manager, Dean Motors; Mr. Patrick Agbai stated that between July and September 2016, cars sold by his organisation were only six, while by the same period in 2015, it had sold 18 cars.
Agbai noted that the decline in vehicle sales in the third quarter is attributed to the automotive policy of the federal government.
He lamented that despite the lull in 2015, large number of vehicles left the parks of many car dealers within Ikeja and environs.
The dealer further lamented that the situation has not been rosy since the beginning of 2016, saying that the third quarter so far, the third quarter has witnessed sharp drop in car sales in the year.
According to him, the Buhari-led government needs to take a stand to ensure that the automotive policy is reviewed.
Agbai added that "it’s quite unfortunate that this government is not bothered about the automotive policy and we are worried about the situation, because we don't know what the future holds for us as car dealers"
"The situation is biting harder by the day and we want the Buhari government to do something urgently"
Speaking on the drop in car sales in the third quarter of 2016, he lamented that “between July and September, I can tell you that the vehicles we sold out of the shop is not up to 6 units"
"Meanwhile last year we sold about 16 to 18 units because the records are there for confirmation".
Also reacting on the lull in sales for last quarter, Mike Otuniya, a Berger-based dealer said that the automobile sale is unattractive because of the import policies militating against sale of fairly-used vehicles.
On his part, Fredrick Nwabueze decried the lull in car sales even as he lamented that the situation was alarming and called for a possible slash in duty payment on fairly used vehicles.
Nwabueze said the policy and forex-scarcity also contributed to the drop in sales during the period under review.
He noted that the policy introduced by the former President was to encourage production of locally made vehicles, but lamented that the policy has be misconstrued by some interest groups.
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