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Auto finance: CBN, NADDC discuss new options for vehicle buyers

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The Director General of the National Auotomotive Design and Development Council, Jelani Aliyu, says the agency has commenced discussions with the Central Bank of Nigeria (CBN) to design workable solutions for auto financing to make vehicle purchase affordable for Nigerians.

He stated this in a presentation made at the 9th Annual Transport Lecture organized by Transport Day Newspapers, with the theme, ‘Nigeria’s Transportation For Development: Sectoral Achievements, Prospects and Challenges’, held in Abuja.

“We had a meeting with the CBN yesterday on auto financing. We want to work out a solution that would enable Nigerians to buy new vehicles and pay over a period of six years,” he said.

The NADDC boss said the move was part of the agency’s efforts geared towards promoting and enhancing value addition in the transport cum automotive sector of the economy by creating a conducive business climate to further enhance investment inflow and industrialization.

Aliyu also said the NADDC was rapidly shifting attention to carbonless transport system in Nigeria in a bid to develop and promote advanced transport technology in the automotive industry.

He said, “This is because, vehicle electrification is inevitable, it is the future of automotive industry worldwide and we are working assiduously towards achieving its comprehensive and sustainable adoption in Nigeria.

“There is no gainsaying the fact that poor maintenance culture of vehicles in the transport sector contributes immensely to environmental pollution. The use of EVs that have advanced technology will not only curb these excesses but will also lead to more productivity in the industry.

“Currently, one of our top focus areas is scaling up production of applicable electric vehicles locally, to enable Nigeria meet its target for the Paris Accord and 2060 net zero commitment, both on reducing harmful gas emissions from vehicles” he said.

He further stated the NADDC recently set up a technical committee on electric vehicle development plan aimed at drawing up a comprehensive development programme for vehicle electrification in Nigeria.

According to the NADDC boss, this plan will also ensure that made-in Nigeria EVs are of world standards and compete favourably in the global market.

“As a pilot scheme project, the NADDC has established 100% Solar Powered EV Charging Stations at Usman Danfodio University Sokoto, University of Lagos and University of Nigeria Nsukka and also discussing with other stakeholders for collaboration in establishing more charging infrastructure all over the country.

“In conclusion, NADDC is committed to establishing and giving support to development programmes that will aid the Nigerian transport sector.

“I therefore urge all stakeholders to begin to think of a paradigm shift from the conventional vehicles to carbonless transportation system and key into the vehicle electrification projects of the Council with a view to achieving cleaner air in Nigeria.”

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As Mercedes cuts dealerships, Nigerian traders may be axed

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There is uncertainty over the fate of some Mercedes-Benz dealers in Nigeria operating through Weststar Associates Limited (the authorized distributor of Mercedes Benz in the country) as there are speculations that they may be sacked.

This follows international reports that Mercedes-Benz plans to reduce its dealerships by 10% worldwide, and up to 20% in the home market, Germany, by 2025, as it targets direct sales.

The prolific car manufacturer plan to hit 25 per cent online sales by 2025 as well as secure 80 per cent of European sales through its new direct sales model by 2025.

“We want to have more proximity to the customer and therefore have better control over pricing,” Mercedes chief financial officer Harald Wilhelm recently said.

“That’s why we are moving from the current dealer role.”

Weststar Associates Limited dealers in Nigeria who may be among those that may be affected by this new policy of Mercedes Benz include Skymit, Sunny Motors, Barbedos Cars, Mercedes Benz Centre and Tetralog.

However, when an official of Weststar Associates Limited was contacted by Transport Day, he promised to get back with an official position of the company concerning the matter, but Transport Day was yet to get the feedback as at the time of filling this report.

Mercedes-Benz currently has approximately 6,500 Mercedes and Smart sales and service outlets worldwide, and roughly 1,000 dealerships in Germany.

According to Bettina Fetzer, Vice president of communications and marketing, cuts to its global dealership will take place by 2025 while cuts in the German market will take place by 2028.

Founded in 2007, Weststar Associates Limited came into being after the official exit of Mercedes Benz representative office in Nigeria, following the disinvestment of the German company from Anambra Motor Manufacturing Company (ANAMMCO), Enugu.

Source: Transport Day

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Latest seven-seater Range Rover SV unveiled for Nigerian market

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Coscharis Motors has rolled out the all-new Range Rover SV, a seven-seater, for the Nigerian market.
The unveiling of the luxury sport utility vehicle, courtesy of Coscharis Motors, was done at the company’s office at Awoyaya, Lekki-Epe Expressway, Lagos.
General Manager, Marketing/Corporate Communications, Coscharis Group, Abiona Babarinde, said the Range Rover SV is one of the most desirable models ever created by Land Rover.
The vehicle is said to have a distinctive design detail resulting in a form that speaks to modernity and the pinnacle of progressive luxury.
Giving specific special features of the new Range Rover, Marketing Manager, Jaguar Land Rover, Cletus Aregbesola, says the vehicle is well defined by aesthetic grace, sophistication and refinement.
According to him, Range Rover would not have anticipated designing a Range Rover with seven seats four years ago but that milestone has been successfully achieved with the new Range Rover.


Having seven seats, the marketing manager said, had not affected both the driver’s legroom and rear legroom.
He said, “It has a choice of Standard or Long Wheelbase body designs provides elevated luxury for five or seven adults, all delivered while retaining the unmistakeable Range Rover profile and Command Driving position.
“Range Rover’s imposing face communicates a character of unparalleled. And, for the first time on Range Rover, 23” wheels enhance the vehicle’s presence and supreme stature, contrasted by its reductive, modern detail”, he added.
Jaguar Land Rover Service Manager, Masimba Joseph Gwetsuro, speaks on the driving dynamics, saying the vehicle is provided with new 530PS (390kW) 4.4-litre V8 that produces maximum torque of 750Nm.


Gwetsuro says that it takes the Range Rover from 0-100km/h (0-60mph) in 4,6 (4,4) seconds.
The new 530PS (390kW) 4.4-litre V8 produces maximum torque of 750Nm.
He says, “With Dynamic Launch engaged, he declared that the vehicle has cleaner, more efficient mild hybrid technology available with a range of diesel and petrol engines.
“Range Rover features a modern and sophisticated interior, underpinned by its impeccable reductive nature, tactile materials and an intuitive approach to relevant technology. No detail has been overlooked. Nothing is for show.”
He says the new Range Rover is now available in all Coscharis showrooms across the country with prices ranging between N70 million and N200 million.

 

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Toyota-Suzuki joint SUV coming in August, Africa listed

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The collaboration between Toyota and Suzuki is set to manifest in concrete terms as Toyota says it will start the production of a new SUV model developed by Suzuki at Toyota Kirloskar Motor Pvt. Ltd from August.

The Suzuki-developed SUV will come with mild and strong hybrid variants – made in India for both brands, multiple sources including motorauthority.com report.

The two companies are said to be planning to export the new model to markets outside India including Africa.

Toyota and Suzuki are promoting mutual supply of vehicles globally, which is one of the collaborations in their business partnership.
The two companies signed a memorandum of understanding for a business alliance in 2017. Since then, the two companies have been bringing together Toyota’s strength in electrification technologies and Suzuki’s strength in technologies for compact vehicles for joint collaboration in production and in the widespread popularization of electrified vehicles.
The powertrains of the new model to be on sale in India will be equipped with mild hybrid developed by Suzuki and strong hybrid developed by Toyota.
By bringing together strengths of both Toyota and Suzuki through the collaboration, the two companies say they will be able to provide a wide variety of vehicle electrification technologies to customers and contribute to the acceleration of electrification and the realization of a carbon-neutral society in India.

While Suzuki leads and understands the India market, Toyota brings hybrid tech to the table.

Maruti Suzuki India Limited and TKM will market the new model in India as Suzuki and Toyota models, respectively.

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