Fidelity bank banner UBA banner
Local car assemblies supply 75,000 new vehicles

By News Express on 01/06/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,799


Director-General, National Automotive Design and Development Council (NADDC), Mr Aminu Jalal, said local assemblers of vehicles contributed 75,000 units to Nigeria’s automobile market in 2015.

Jalal, who stated this in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday, said that the figure represented 75 per cent of estimated 100,000 new vehicles that made it into the market during the period.

“Last year, the assembling plants did over 75,000 vehicles, made up of both locally assembled units and concessionary imports.

“You know that assembly plants are not only producing, but are also importing fully built units (FBUs) as an incentive as provided by the auto policy.

“This means that they supplied 75 per cent of the estimated 100,000 new vehicles that entered the market in 2015.”

NAN reports that the auto policy allows local assemblers to import FBUs at 35 per cent duty without levy for cars, and 20 per cent duty without levy for commercial vehicles.

The concessionary FBU import is in proportion to their local production, while the tariff on those inputs will increase as local manufacturing capacity strengthens.

Jalal predicted a drop in local production output in 2016 as a result of the current foreign exchange scarcity, which he identified as the major challenge facing the sector.

“A lot of the assembly plants are minimising their operations because they are finding it difficult to source foreign exchange to import their raw materials.

“This is the major challenge we are currently facing, but you know it is not limited to the auto industry; all manufacturers are affected.”

The NADDC director-general said that implementation of the auto policy was on track notwithstanding the foreign exchange challenge.

“We have more new companies coming up. For instance, Ford started test assembly last December; Toyota also did a test assembly of Hiace bus.

“Early this year, Perfection Motors opened a plant to assemble FAW trucks in Lagos, and CFAO Motors commissioned a plant to assemble Mitsubishi buses. The implementation is on track.” (NAN)

•Photo shows Toyota Hiace Bus.

Source News Express

Posted 01/06/2016 05:09:50 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Anambra elite demand shift in governorship election date...

Anambra guber: ACCEPT DEFEAT AND SUPPORT THE WINNER,...

No one – not even Buhari or Saraki...

PDP Delta Mandate pulls party heavyweights to Delta...

Boko Haram kills 7, raids Borno community from...

I will speak on recovered loot on May...

Court halts EFCC’s probe of Benue accounts

I’m yet to leave APC – Shehu Sani...

Army weeds out 11 generals, 36 others

Shell bets big on Brazil as oil majors...

Dokubo attacks el-Rufai, brands him a thief and...

Cancer kills dreaded Mafia boss nicknamed ‘The Beast’...

 

Latest News Key leader of group that abducted Leah Sharibu killed: Military Cross River: APC chairman, wife die in ghastly motor accident Vigilante Security Summit holds in Abuja Monday Kidnapped Zamfara twins regain freedom Jaafar Jaafar APC to roll out campaign plans in one week 2019 Polls: Atiku to launch ‘policy document’ on Monday 2019: Oshiomhole lied; South-East solidly behind Obi — Aide 2019: Presidential, NASS campaigns begin today: INEC Otedola endorses Sanwo-Olu for Lagos governor Troops foil another Boko Haram attack in Borno Nigeria records 800,000 preterm births annually Fayemi okays N30,000 minimum wage

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (421,519 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (390,219 views) Shameless Genevieve Nnaji exposes breasts in public (323,149 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (271,708 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (244,288 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (227,555 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (209,165 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (190,728 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (176,004 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (168,649 views) Lagos plane crash: Journalist releases victims’ names (165,178 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (152,057 views)

 

Zenith Zero Balance First Bank banner

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (73) Business & Economy (3,797) Business Verdict (54) Columnists (964) Complaints & Requests (94) Enterprise & Opportunities (208) Entertainment (567) Features (669) Global Business Monitor (310) International (2,692) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (37) News (40,621) Opinion (1,142) Pidgin (13) Politics (7,767) Religion (901) Sports (1,777) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera