Firm imports 18,123 cars in 11 months

Managing Director of the company, C. K. Thampy, who spoke at a press conference in Lagos, said the current figure is an improvement on the 14,237 within the same period under review in 2011. “This is a 27% improvement from the previous year with a difference of 3,886 units,” Thampy said. According to him, at […]

Managing Director of the company, C. K. Thampy, who spoke at a press conference in Lagos, said the current figure is an improvement on the 14,237 within the same period under review in 2011.

“This is a 27% improvement from the previous year with a difference of 3,886 units,” Thampy said.

According to him, at a projected sales of 18,500 units for 2012, his company‘s market share should grow by 2%.

He also said the market share would grow phenomenally in the future in Nigeria.

The company’s boss, who spoke on the auto sector in the outgoing year, said it started on a “turbulent” note with the fuel subsidy removal strike which slowed down business activities.

“Market activities slowed down particularly after the first half of the year with no significant signs of improvement thereafter. This was partly due to reduced spending by government as a result of the 2012 budget which was not fully implemented.

“Government and corporate purchases were dull. Businesses continued to witness difficulty in accessing credit facilities from banks. Currency fluctuation during the early part of the year adversely affected the industry,” he explained.

He, however, said during the period, his company won the most valuable auto brand award and also emerged number one among the best 50 global green brands in 2012.