Nigeria Autos Report Q4 2016

Nigeria Autos Report Q4 2016

Published: October 2016
Publisher: BMI Research
Product ref: 262820
Pages: 29
Format: PDF
Delivery: Immediate download

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BMI View: We maintain our view that high inflation, a depreciating naira and the ongoing liquidity crisis
will result in a 45.0% contraction in vehicle sales in 2016.

Key Views
¦ A depreciating currency will continue putting upward pressure on the prices of imported vehicles and
¦ The ongoing dollar shortage will hamper vehicle manufacturing as a lack of access to hard currency
slows down operations.
¦ The removal of fuel subsidies, and the resulting increase in fuel prices in Nigeria, will continue to keep
inflationary pressures high in the country, reducing consumer purchasing power and keeping vehicle
running costs high.

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