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GAC Motor, Lotus Bank sign new vehicle financing pact

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R-L: Chairman, CIG Motors, Chief Diana Chen and Executive Director of Lotus Bank, Alhaji Alhassan Abdulkarim at the Auto Finance Scheme signing ceremony in Lagos
  • Raise prospect for more new automobile purchases

GAC Motor appears determined to encourage more people in Nigeria to buy new vehicles for both personal/family ride and commercial purposes as it has entered into a partnership with Lotus Bank to make new vehicle acquisition easier and more affordable to all prospective auto patrons nationwide.

The scheme, ‘Rent to Win’, the two organisations said, was aimed at reducing the number of used vehicles on Nigerian roads.

Chairman, CIG Motor (franchise owners of the GAC brand in Nigeria), Chief Diana Chen, while speaking at the signing of the Memorandum of Understanding (MoU) in Lagos, said that the partnership with Lotus Bank is designed to enable customers to acquire new vehicles in a financially convenient manner with comfortable repayment plans.

Chen explained that the scheme is a special one to willing clients and reiterated that it would be executed with the sincerity of purpose it deserves.

According to her, customers who qualified for purchase of the brands could pay back between 36 to 48 months.

She said, “The agreement we have is unique and you can’t get it anywhere else. This is a special scheme we are offering to the public. With this agreement we are signing today, Nigerians would not need to bring out their entire money to buy a vehicle at once.”

Executive Director, Lotus Bank, Alhaji Alhassan Abdulkarim expressed delight at the agreement between the two organisations.

Abdulkarim explained that since the bank was established less than a year ago, it was the first time it was signing such an agreement with any automobile company in Nigeria and expressed optimism that it had the capacity to finance the scheme.

He emphasised that as a bank, the major action of the bank is to engage in financial intermediation with clients and promised that any client who approaches the bank for acquisition of the any GAC Motors model, such request would be granted within 48 hours.

He however said that such customers must meet the procedures spelt out by the bank, which include domiciling of their salary accounts with the bank and for businessmen; they must show evidence of continuous payments as agreed with the bank.

He said, “We have the capacity to finance as much of this scheme as possible despite the fact that we are just eight months in the financial sector. So far, we have 15 branches across the country.

“As at today, we have about N13 billion capital, which is the capital of a national bank for instance. If any organization wants to acquire 1,000 of these vehicles, we have the capacity to finance such an entity.”

Also speaking at the signing ceremony, General Manager, Commercial, CIG Motor, Jibril Arogundade, recalled that the automobile company had the same agreement with some financial institutions earlier and described the experience as successful for the automobile industry.

 

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Carloha hits N’Assembly with Chery’s flagship SUV, others as Abuja Motor Fair begins Monday

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Carloha hits N’Assembly with Chery’s flagship SUV, others as Abuja Motor Fair begins Monday 

 

Carloha Nigeria has concluded all arrangements to storm the 2024 Abuja Motor Fair holding at the National Assembly Complex with the best of Chery vehicles, the brand’s cutting-edge technologies and eco-friendly innovations.

This year’s event is scheduled to take place from November 25 to 29, 2024.

The authorised dealer and assembler of Chery vehicles in Nigeria says it is excited to participate as the exhibition will provide it a remarkable platform to highlight Chery’s cutting-edge vehicles, including the premium Tiggo 8 Pro, the versatile Tiggo 4 Pro, the compact Tiggo 2 Pro, and the eco-friendly Arrizo 5.

It notes that as a brand committed to redefining mobility and enriching lifestyles, Chery’s presence at the fair will underscore its unwavering dedication to providing Nigerian consumers with vehicles that combine style, performance and advanced technology.

It promises visitors to the Chery stand an immersive experience as they explore the features and innovations embedded in each model.

Leading the line up of vehicles from the brand is the Tiggo 8 Pro, Chery’s flagship SUV, said to epitomise luxury and performance.

Designed with modern families in mind, the Tiggo 8 Pro boasts a spacious interior, intelligent connectivity, and advanced safety features.

It is found ideal for discerning customers seeking comfort, sophistication, and reliability.

The Tiggo 4 Pro is tailored for urban adventurers, combining a sleek design with robust performance.

This dynamic SUV offers the perfect blend of style, technology, and versatility, making it a favorite among young professionals and growing families.

The Tiggo 2 Pro stands out with its vibrant design, agile handling, and impressive fuel efficiency for those seeking a stylish yet compact option.

It is the ultimate choice for individuals looking to easily navigate cityscapes while making a bold statement.

Adding to the lineup is the Arrizo 5, a sedan that represents Chery’s innovative approach to green energy. Equipped with a dual-fuel (petrol and CNG) system, the Arrizo 5 caters to environmentally conscious consumers, providing both sustainability and cost efficiency without compromising performance.

Apart from the vehicles on display, Carloha says the Abuja Motor Fair will also serve as an opportunity for the firm to showcase Chery’s cutting-edge technologies, including intelligent driving systems, advanced safety features, and eco-friendly innovations. It adds that engaging demonstrations and one-on-one consultations will be available to visitors, ensuring a comprehensive understanding of what makes Chery a leader in the automotive industry.

“Participating in the Abuja Motor Fair underscores our commitment to delivering premium vehicles that meet the evolving needs of our customers in Nigeria,” said Mathew Enuoma Aje, Marketing Manager at Carloha Nigeria. “We are thrilled to present Chery’s diverse line-up, each designed to enhance driving experiences and offer unmatched value,” he adds.

The Carloha’s Sales Director, Mr. Joseph Omokhapue, is also quoted as affirming the company’s commitment to making Chery ownership easy, accessible, and affordable.

He highlighted Carloha’s exclusive offers, including a 6-year free service plan, a 6-year/200,000 km warranty, and flexible auto financing options.

“These benefits reflect Carloha’s unwavering commitment to our customers.

“With competitive pricing and 24/7 nationwide parts and service support, we ensure our customers enjoy their Chery vehicles with absolute peace of mind.”

He urged all Chery enthusiasts and potential buyers to visit the Chery booth to explore the range of vehicles on display, participate in interactive activities, and take advantage of exclusive offers during the fair.

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Excitement as Geely relaunches in Nigeria, names Coscharis Motors new partner

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L-R: Group Managing Director, Coscharis Group, Mr. Josiah Samuel; Chairman, House Committee on Industry, House of Representatives, Hon. (Dr.) Enitan Badru, and General Manager, Marketing & Corporate Communications, Coscharis Group, Mr. Abiona Babarinde, during the recent visit by members of the House Committee to Coscharis Assembly Plant at their Group headquarters office in Lagos.

Excitement as Geely relaunches in Nigeria, names Coscharis Motors new partner

  • Reps, NADDC teams visit Lagos assembly plant
  • Coscharis set to roll out new models

For lovers of sleek Geely vehicles, it is exciting time again as Geely Auto International Corporation has officially announced Coscharis Motors as its new partner in Nigeria.

Coscharis Motors, which has thus become the exclusive franchise representative of the Geely brand in Nigeria, says it is  ready to roll out the latest Geely models into the Nigerian market very soon as well as grant opportunity for owners of old Geely cars to trade them in for brand new models.

Speaking on behalf of Geely in Lagos, Head of Geely Auto International Middle East/Africa Business Unit, Scofield Wu, said, “We have carefully re-selected our representative in Nigeria, because we are looking for a partner with strong pedigree in the automotive sector in Nigeria that can deliver our brand promise, this we got in Coscharis Motors.

“Coscharis Motors shares our belief that the Geely models are the perfect fits to mitigate customers’ budget constraint especially those who require automobiles that are durable, reliable, technologically driven and have best aftersales offerings.

“This shared passion, along with their excellent reputation in the automotive industry, makes it the perfect partnership for Geely Auto International in Nigeria.”

Commenting on this partnership, the President/CEO of Coscharis Group, Dr. Cosmas Maduka, said, “We are excited to celebrate the confidence that Geely Auto International has reposed in us to represent them in Nigeria. Geely Auto is in sync with Coscharis Motors towards ensuring our corporate brand promise to continue to create value for all our stakeholders.

“This milestone marks another step in the evolution of the company towards remaining timeless in its relevance.

“We are committed to broadening our dealership’s scope to the public, and believe the Geely Auto brand provides a capable, refined and reliable vehicle option to our customers, especially in this economically challenging times.”

He also said, “With our pedigree and experience of the Nigerian market, it is clear to us that the Geely Auto brand is what is needed today to bridge the gap between luxury and budget auto brands available in market.

“The models, especially the All New Starry and GX3 Pro are game-changers in their respective segments. These vehicles have what it takes to meet customers’ expectations satisfactorily, especially government and companies who are looking at their middle management team and fleet vis-à-vis their bottom-line.

“At Coscharis Motors, we are excited to re-launch the new Geely Coolray and Emgrand in addition to bringing the very newest models to Nigeria. We look forward to those existing and new customers because these models are definitely going to stir things up.”

The official announcement of Coscharis franchise came with the visit of members of the House of Representatives Committee on Industry who, as part of their oversight functions, had a facility tour of the Coscharis Assembly Plant located at the group head office in Lagos where the new Geely variants are being assembled.

Chairman of the Committee who led the delegation, Rt. Dr Enitan Badru, said, “Our visit to Coscharis Assembly Plant is to have an on-the-spot assessment of the plant for us to be able to know in specific terms where they need our interventions in terms of enacting relevant laws to protect such investment.

“This surely will help us legislate on every support required to encourage such local organisations to further invest in our Country towards achieving the best intentions of the government of the day.”

Similarly, the Director-General of National Automotive Design and Development Council (NADDC) Joseph Osanipin, who was represented by the Director, Research and Development, Fidelis Achiv, who equally led his team to visit the Coscharis Assembly Plant, commended Coscharis on the assembly plant that has rolled out different brands and now delivering the Geely brand.

The agency promised to give all the necessary support to succeed in delivering the expected value for the country.

Group Managing Director of Coscharis Group, Mr. Josiah Samuel, who conducted the guests around the state-of-the-art assembly plant and the other facilities in the organization, declared that the plant could be compared to any global similar plant in the world.

He said, “With what you’ve seen here today, Coscharis has simply shown that if given the required support with the right conducive business environment, indigenous organizations like ours that have what it takes to compete in the global space will deliver world-standard vehicles going by our pedigree with globally respected automobile brands we represent in Nigeria.

“Coupled with the new Geely brand added to our robust portfolio, we believe our locally assembled Geely vehicles will do well in the Nigeria market.

“As an entity that believes in our country, Nigeria, we shall continue to do all in our space to sustain this local assembling of more brands from this plant as it also has the economic implications of creating more job opportunities both for skilled and unskilled labour that will definitely boost the country’s economy.”

The GMD of Coscharis said aside from delivering one of the unique selling propositions of buying a brand new Geely with a six-year warranty which is rare in the automotive sector, Coscharis Motors is set to embrace all the existing customers concerning their aftersales needs while offering them trade-in options, in order to facilitate easy ownership of the new or latest models.

According to Coscharis, in a statement by its Abiona Babarinde, Group General Manager, Marketing and Corporate Communications, now that the agreement with Geely Auto International has been sealed and delivered, it “will focus on readying its dedicated Geely Auto showroom across Nigeria with the first bases in Victoria Island, Lagos and Central Business District, Abuja, while the service workshop is set at Ikeja, Lagos.

“The interesting news for our customers is that these vehicles are now available with us to delight the Nigerian market,” the statement added.

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Soludo: Kojo assembly plant will make Anambra auto manufacturing hub

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Soludo: Kojo assembly plant will make Anambra auto manufacturing hub

 

Anambra State Governor, Professor Charles Chukwuma Soludo, has expressed optimism that the new Kojo automotive assembly plant at Umunya along the Enugu-Onitsha Expressway will not only boost the economy of the state but also reposition it as an automotive manufacturing hub.

The assembly plant nearing completion is expected to roll out its first set of vehicles under the Soludo administration soon.

The governor spoke at the just concluded Anambra State Investment Summit (ANINVEST 2.0) with Kojo Motors as one of the official partners and sponsors.

This year’s ANINVEST held under the theme “Changing Gears: Accelerating Anambra’s Economic Transformation”

was organised by the state government as a pivotal event in advancing the collective vision for rapid development of the state’s economy.

Speaking on the sidelines of the summit, Managing Director of OMAA, Chinedu Oguegbu, reiterated the plan of the company to invite Governor Soludo to commission the plant and drive the first locally assembled vehicle out of the Kojo Assembly Plant by the first quarter of 2025.

He said, “His Excellency is very passionate about the Kojo Motors auto assembly plant. He is very eager to see its completion and commencement of assembly of vehicles come to reality.

“I can assure him and the state government that we are doing everything possible to ensure we meet with the governor’s wishes and aspirations.”

The event brought together stakeholders from the various sectors of the local and global economy including industry leaders, development partners, financial institutions and other relevant participants, all united in a commitment to accelerating the economic transformation of Anambra State.

Anambra, according to the state governor, is fast becoming a renewed investors’ destination for different types of money bags rushing to the state to capitalise on the pledged ease of doing business to set up businesses.

“This time around, one of such massive investments is being undertaken by John Ikenna Oguegbu, an indigene of the state and chairman, founder and CEO, Kojo Motors Limited,” Chinedu Oguegbu said.

Last year September, Governor Soludo performed the groundbreaking ceremony of the Kojo Motors auto assembly plant for the local assembly of the OMAA range of gas-powered mini passenger and commercial buses as well as Chinese range of Yutong passenger and commercial buses.

While congratulating John Ikenna Oguegbu, chairman and chief executive of Kojo Motors Limited for bringing his wealth to his home state to invest. Governor Soludo also commended the Yutong buses manufacturers from China for the smart move of coming to Anambra State to set up the auto assembly plant in collaboration with the local franchisee.

The governor stated that the decision to allow prospective investors to come and invest in the state was not out of philanthropy or charity, but rather a business decision model that would take Anambra State to the world and bring the outside world to the state.

Governor Soludo pledged the state government’s commitment and patronage of the vehicles rolling out of the Yutong Assembly plant.

He declared that the state government under his administration was on course for massive industrial development, employment generation and prosperity for all its citizens.

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