Nigeria… the biggest economy in Africa, having recently surpassed South Africa. It is the land of plenty, yet the land of scarcity to tens of millions of people living in poverty. However, in every country, there are the poor and the rich, but we do hope that the gap between the two will narrow up soon.
In Nigeria, many people prefer buying their own cars so that they can escape the hustles that come with riding motorbikes and decrepit taxis. This means that there is a high demand for used cars and the importers of secondhand cars have really outdone themselves to fill the gap.
Do not be surprised to find a certain used car in Nigeria costing much more than it would cost in, say, USA. Used cars fly off the shelves in Nigeria as compared to other countries in Africa. With many dollar millionaires, even new cars have a ready market in Nigeria. At the same time, the projections by World Bank that the number of middle class Africans will rise to more than 40 million in 2030 is good news for used car importers like BEFORWARD.
Who buys what in Nigeria?
Nissan Pathfinder is a very popular car in Nigeria, perhaps it is to the road what the foo-foo is to the dinner table. But there are more choices for the Naija brothers who love everything loud and good looking on the road, thanks to their high-spirited nature and unequaled braggadocio.
When it comes to a Nigerian and his car, the brand is very important. It is a status symbol on the road. You say your status symbol by the kind of automobile you drive, the nicer the car, the higher the status in society.
While the global economic meltdown has forced car sales to decline globally, that is not the case in Nigeria. The auto sales have gone up instead. You see, in Africa, we do not buy cars for functionality only, but we buy so that we can show class and that we have moved up a notch on the social ladder.
Every year, Nigeria spends up to $ 5 billion dollars to importing used cars from USA, Canada, Europe and Asia. Any car that is not older than 10 years and is in good condition is acceptable. However, new cheaper cars from India, China and elsewhere also find their way into the market. Apparently, the most favorite brands for new cars include Toyota, Nissan, Honda and KIA.
Other things that affect the choice of a used car in Nigeria include the state of the roads,