New Cars in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2012-16, and forecast to 2021). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Essential resource for top-line data and analysis covering the Nigeria new cars market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
The new cars market consists of the initial retail sale/registration of new passenger cars. Passenger cars include saloons, hatchbacks, SUVs, 4x4s and other related vehicles. The market value is calculated at retail selling price (RSP) and the market volume is given in terms of units sold. Market shares consist of motor manufacturing groups as opposed to their individual brands, i.e. for the Volkswagen Group this includes all of its brands such as Volkswagen, Audi, Skoda, Seat etc. Any currency conversions used in this report have been calculated at constant 2016 annual average exchange rates.
The Nigerian new cars market had total revenues of $315.2m in 2016, representing a compound annual rate of change (CARC) of -13.2% between 2012 and 2016.
Market consumption volumes declined with a CARC of -16.8% between 2012 and 2016, to reach a total of 19.2 thousand units in 2016.
Nigeria experienced economic turmoil in 2015 as a result of socio-political instability, which reduced consumption sharply. Accordingly, the market incurred record-losses in that year such that the growth of the market in 2016 seems insignificant when compared to the volumes achieved in 2014.
Save time carrying out entry-level research by identifying the size, growth, and leading players in the new cars market in Nigeria
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the new cars market in Nigeria
Leading company profiles reveal details of key new cars market players’ global operations and financial performance
Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria new cars market with five year forecasts by both value and volume
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What was the size of the Nigeria new cars market by value in 2016?
What will be the size of the Nigeria new cars market in 2021?
What factors are affecting the strength of competition in the Nigeria new cars market?
How has the market performed over the last five years?
Who are the top competitiors in Nigeria's new cars market?