Even as the implementation of the automotive policy is imminent, automobile dealers have predicted that there will be a drop in the cost of vehicles come 2015.
Reasons for the drop according to the car dealers, is that imported fairly-used vehicles will compete with the locally- assemble ones. They noted that locally assembled vehicles are still not in sufficient quantity.
Speaking to Auto Port Weekly in Lagos last week, an importer of used cars; Nonye Eze explained that there is no way prices of used cars can appreciate, rather they depreciate.
Eze said sale of cars in 2015 will experience a lull, adding that, even the government is discouraging importation of used vehicles.
He urged Nigerians not to panic about the 70% hike in payable revenue which is expected to commence next year.
On his part, another dealer, Mr.Patrick Obi told our correspondent that there is no need to panic as buyers will buy used cars at cheaper and affordable rates irrespective of the brands.
He maintained that Nigeria is still not ripe for full implementation of the automotive policy.
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