Lukmon Oloyede.
The prevailing trend of the automobile sector in Nigeria was last Monday unveiled as Carmudi – an online automobile marketplace released the First Automotive whitepaper for the country in Lagos.
The report revealed that emerging markets’ share of global sales will rise from 50% in 2012 to 60% by 2020, while their share of global profits is also set to rise by 10%.
The study also found that 30% of car dealers in Nigeria reported an increase in car sales over the past twelve months due to the changing economic climate, while 50% of car dealers surveyed reported a decrease. It also showed that the auto industry remains relatively strong, but critical policy changes, like the National Automotive Industry Development Plan, have the potential to change the entire industry.
“83% of Nigerian car buyers reported turned to the internet, blogs, forums, and social media when researching cars.. Nigerian car dealers are also getting more and more digital when advertising their listings. Around 80% of car dealers are now primarily focused on advertising their car listings online”, part of the report revealed.
[ad id=”147″]Commenting on the reason for the whitepaper, Christian Keller, Managing Director of Carmudi Nigeria, the firm decision to embark on this timely research is to enable stakeholders to provide workable data for the automobile industry and feed car sellers and buyers what needed information on how to transact online.
According to William Anumudu, CEO of Globe Motors, “Currently, the number of people turning to the internet to for car purchases has been on the increase. A lot of people use the internet to search for information, products or services. Any business that wants to excel must go digital. This is due to the fact that Nigerians like to be associated with new trends, the internet is accessibility to the internet anywhere and the fact that information is at their fingertips”.
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