FG woos vehicle assemblers with 10-year tax relief   – Newstrends
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FG woos vehicle assemblers with 10-year tax relief  

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FG woos vehicle assemblers with 10-year tax relief  

Director General of the National Automotive Design and Development Council (NADDC), Mr Jelani Aliyu, has said local vehicle assemblers and manufacturers of automotive components and products will now enjoy a tax relief of between five and 10 years.

This, he said, was part of the incentives included in the recently approved revised Nigeria automotive policy.

The DG disclosed this in a paper presented on Tuesday at the West Africa Automotive Show (WAAS) in Lagos.

According to the DG, represented at the event by a deputy director of the council, Segun Omisore,

while assemblers in the conventional combustion engine vehicles will get five-year tax relief, electric automobile and component makers will enjoy 10 years.

Jelani said, “The policy promotes investment in the auto sector and fiscal incentives which includes additional tax relief for five years for assemblers or manufacturers of automotive components and products; 10 years for assemblers/manufacturers of electric vehicles and components used in electric vehicles and many other incentives provided.”

He also noted that the new policy would position Nigeria’s automotive ecosystem as a leading centre for automotive production in Africa.

He said the approved policy document would run from 2023 to 2033.

Jelani gave some of the objectives of the policy as providing a legal framework for the development of a competitive and sustainable automotive industry in Nigeria; creating an environment that allows existing assembly plants to survive, grow and attract other original equipment manufacturers, and local content suppliers and facilitating the transfer of technical know-how and technological skills for the development of the automotive industry.

The NADDC boss assured that on the part of the council as a regulatory agency of the auto industry, “We will continue to support all our stakeholders in the development of the industry by providing the necessary policy framework and the investment promotion incentives to support the industry”

He said the new policy”provides policy direction and investment promotion incentives for the first time to electric and gas-powered vehicles development in Nigeria.”

Acknowledging that there are challenges being faced by industry players, like influx of low grade used vehicles through our borders, the depreciation of naira value/scarcity of foreign exchange and the absence of dedicated automotive funds by the financial institutions in Nigeria to provide low interest vehicle finance scheme for market development, Jelani expressed optimism about the future of the industry.

He commended the organisers of the event, BtoB Events, assuring them of the council’s support.

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150 OEMs, others set for Lagos motor fair, Africa autoparts expo

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150 OEMs, others set for Lagos motor fair, Africa autoparts expo

Arrangements have been concluded for the hosting of the 18th edition of the Lagos Motor Fair and 11th Africa Autoparts Expo in Lagos.

BKG Exhibitions Limited, organisers of the annual event, stated this, adding that it would be a bumper package as 50 Original Engine Manufacturers (OEMs) from different parts of the world had confirmed their participation at the fair.

Chairman of the organising committee for the show, Mr. Ifeanyichukwu Agwu, said at a press briefing in Lagos that the event is scheduled to hold on June 4-7, 2024 at the Federal Palace Hotel, Victoria Island.

Agwu, who is also BKG managing director, declared, “Over 150 confirmed Original Equipment Manufacturers from all over the world are already preparing to be at the show.

“From the financial sector, auto financing and acquisition facilities and schemes shall be on display at the various stands of the firms from the sector.

“Those interested in enjoying the synergy existing between the automobile industry and the Insurance sector will get the best and latest from reputable Insurance Companies at the fair arena.

“Some of the automobile dealers will showcase their own in-house finance/ acquisition schemes.”

He said almost all the major vehicle manufacturers and dealers in Nigeria would be participating at the fair.

Notable banks and insurance companies, major oil companies; manufacturers and dealers in auto spare parts and accessories have booked to participate in the event, he added.

There will also a conference/workshop session featuring germaine industry issues and key stakeholders.

Agwu said, “The aim of this segment is to inform, educate and contribute to policy decisions and implementation in the sector.”

“The fair will be a landmark and a benchmark in auto show business in the entire West African subregion as the all-inclusive event has been packaged to ensure that all stakeholders have a rewarding experience.

“Each of the days that the fair will last is loaded with activities and events that will make this edition remarkably different and we intend to improve and add on this in subsequent editions,” he said.

Visitors can also update their knowledge about Fleet Management from experts in the field that would be on the ground at the fair.

He also said, “We have carefully put in place a lot of crowd-pulling activities all geared toward driving much traffic into the fair. “These include but are not limited to performances by popular artists, cultural and fashion displays, models/automobile parades and a roadshow.”

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Nigeria gets new Mercedes-Benz GLS, offering extraordinary driving pleasure

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Nigeria gets new Mercedes-Benz GLS, offering extraordinary driving pleasure

 

Weststar Associates Limited has announced the introduction to Nigeria new Mercedes-Benz GLS Facelift, viewed as a symbol of grandeur and innovation.
Weststar, authorised general distributor of Mercedes-Benz in Nigeria, says the new model is coming with features specially crafted to elevate driving experience to new heights.
According to a statement by the firm, the Mercedes-Benz GLS Facelift represents a fusion of power and opulence, a symbol of luxury and innovation.
This update is said to propel the GLS to new heights, reaffirming its status as a commanding and sophisticated choice in the luxury SUV category in Nigeria.
It also comes with a bold exterior, advanced features and electrified powertrains.
Part of the statement read, “The GLS Facelift blends elegance with power, solidifying its place as the pinnacle of luxury SUVs.
“The updated GLS makes an unforgettable entrance with a revamped front fascia.
“At its core is an imposing, larger gloss grille featuring four horizontal bars, adding a sense of authority to its presence.
“Gloss black surrounds adorn the lower air vents. A striking new LED DRL pattern in the LED headlights gives the GLS a sharper and more aggressive aesthetic.”


Design
Giving more details about the design, the firm says the vehicle comes with new alloy wheel options, and the rear boasts distinctive LED taillights with a 3-pot LED pattern.
Even though it retains the hallmark design of the previous version, the new GLS Facelift introduces an array of features to enhance the cabin experience.
The highlight is the new 3-spoke steering wheel, equipped with capacitive steering-mounted controls, which promises heightened control for drivers.

Infotainment
Its infotainment system and instrument cluster are said to be powered by the latest MBUX operating software, providing additional display modes and an immersive technological experience.
Occupants of the new GLS Facelift are in for maximum luxury Luxury with a panoramic sunroof, heated and ventilated front seats, the Burmester® high-end 3D surround sound system with Dolby Atmos®, a 360-degree parking camera for effortless maneuvering, adaptive air suspension, adaptive LED lighting for superior visibility, and a powered tailgate for added convenience.
Weststar says the new GLS Facelift integrates a 48V mild hybrid system into all of its powertrains, enhancing performance and efficiency.
This innovative system provides an addition of up to 16kW of power and 250Nm of torque for short bursts. The standard GLS Facelift lineup offers an array of engine choices, including two petrol options.

Engine performance
The GLS 450 is powered by a 3.0-litre straight-six petrol engine, generating 280 [381] kW [hp] and 500 Nm of torque, offering a balance of power and efficiency.
Stepping up, the GLS 580 features a 4.0-litre V8 petrol engine with 380 [517] kW [hp] and 730 Nm of torque, providing rapid acceleration.
For enthusiasts with a penchant for sportier luxury, the GLS 63 AMG model is an embodiment of power and sophistication.
It features Nappa leather-upholstered seats in distinctive color schemes, offering a captivating environment.
The MBUX infotainment system incorporates AMG-specific menu layouts, adding a sporty edge to the interior.
The GLS 63 AMG model is packed with an electric panoramic sunroof, heated and vented front seats, adaptive headlights, AMG’s performance exhaust system, a premium sound system and the 360-degree parking pilot.
This comprehensive package caters to those who desire both power and luxury.

Interior
The Mercedes-Benz GLS still comes standard as a seven-seater. However, two new leather colours are available, Catalana beige and Bahia brown. Additionally, the range of interior trim finishes has been updated, with glossy brown lime wood now standard.
The trim element MANUFAKTUR glossy black flowing lines piano lacquer, which was previously only available for the Mercedes-Maybach GLS 600 4MATIC, is now also available for the entire GLS family from Mercedes-Benz.All GLS engines come paired with a nine-speed automatic gearbox and the 4MATIC all-wheel drive system as standard.
For those seeking an extra dimension of adventure, Mercedes-Benz offers an optional ‘off-road engineering package,’ which enhances the GLS’s capabilities with underbody protection panels and a 30mm increase in ride height.
The firm says new vehicle is available nationwide in its authorised Mercedes-Benz showrooms comprising Barbedos Cars Limited, M-B Automobile Services Limited, Skymit Motors Limited, Sunny Motors Limited, and Tetralog Nigeria Limited.

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Coscharis Motors hits W’Africa Auto Show starting today with special discount, fabulous gifts, others 

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Coscharis Motors hits W’Africa Auto Show starting today with special discount, fabulous gifts, others 

Coscharis Motors Plc is participating hugely at the 2024 West Africa Automotive Show (WAAS) holding in Lagos from May 14 to 16, 2024.

The prominent automotive company and trusted representative of major international auto brands in Nigeria, announced in a statement that exciting time awaits visitors to its stand at the Landmark Event Centre, venue of the fair in Lagos.

It promised special discount, freebies, on-the-sport autocare, original parts and experts advice.

It stated, “As one of the premier dealerships in Nigeria when it comes to auto parts and auto components, Coscharis Motors Plc is poised to showcase an impressive array of automotive products from renowned Original Equipment Manufacturers (OEMs), including Abro, MotorCraft and Omnicraft.

“From essential spare parts to top-quality lubricants, the exhibited products cater to the diverse needs of automobile enthusiasts and professionals, facilitating seamless repairs and maintenance for all makes and models of vehicles.

Abiona Babarinde, General Manager Marketing and Corporate Communications at Coscharis Group said, “We are really delighted to participate in the West Africa Automotive Show 2024 and showcase our commitment to delivering excellence in the automotive sector.

“Through our participation, we aim not to only showcase our robust product portfolio but also to connect with customers and prospects alike fostering lasting relationships built on trust and reliability in delivering value for their money over the years.

“The beauty of our participation at this year’s event is that you stand to get the original parts across various brands of any vehicle together with our certified technicians on ground to give you first hand professional after-sale guide on how best to fix the Parts; thereby delivering a one – stop shop at our stand.”

Head, Auto Care/Consumer Products Division, Coscharis Motors Plc, Dr. Obuzor Uzordinma, was also quoted as saying, “All is now set for us as a team to delight anyone that visits our stand at the exhibition.

“Our combined strong team from the Auto Care, Auto Component and After-sale teams are ready to deliver value for money at this event.

“We are poised to deliver on-the-spot offerings when it comes to original parts for all brands of vehicles as the official representative in Nigeria of various Original Equipment Manufacturers.

“To complement the parts on display will be our Home Care Consumer Goods from the iconic Abro brand portfolio on display as the exclusive representative in Nigeria.

“I hereby encourage all automobile customers, enthusiasts and families to take advantage of this opportunity to experience automotive innovation at its finest as they visit Coscharis Motors Plc at this year’s West Africa Automotive Show and unlock a world of possibilities in automotive excellence.”

The firm promised visitors to the Coscharis Motors stand an unparalleled experience, with irresistible discounts and enticing freebies.

“This exclusive opportunity allows customers to access original automotive products at unbeatable prices, enhancing both their driving experience and vehicle longevity.

“Moreover, the West Africa Automotive Show serves as a platform for attendees to engage directly with Coscharis Motors representatives, who will be on hand to address enquiries and provide insights into the comprehensive range of products and services offered by the organisa

tion,” it stated.

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