-2.1 C
New York City
Monday, March 4, 2024
Home NEWS Nigeria 2015: Toyota Nigeria Records Market Share Decline

2015: Toyota Nigeria Records Market Share Decline

…Plans to Launch Toyota Conquest 2016

By: ROTIMI ASHER

[dropcap]T[/dropcap]oyota, Nigeria’s highest selling brand for decades, lost over 75% of market share in the current year, 2015.

The Head of Marketing, Toyota Nigeria Limited(TNL), Mr. Andrew Ajuyah, who gave the revelation last week, during the company’s 4th Quarter Press Forum held at its headquarter in Lekki, Lagos, attributed the decline to  the nation’s auto policy as well as economic downturn resulting from the crash of the world crude oil prices.

Ajuyah lamented: “Nigerian economy has been passing through challenges as result of downfall in the international oil price, which affected the auto market, because government is the biggest spender.”

According to him, in 2015, “TNL brought into the auto market through the port a total number of 15,031 vehicles” compared to 45,618 vehicles in 2014, representing 67% decline.”

Notwithstanding, the company is optimistic of bouncing back in 2016.

“We sincerely believe that what happened in 2015 will not be repeated in 2016,” Mr. Ajuyah enthused, adding, “Whether we like it or not the government has appointed its ministers and they are committed to carrying out a lot of programmes next year. There will be investment in capital project, which will make a lot of money to move around and that will impact on the auto sector.”

Meanwhile, apart from its local production plant, which is almost ready, TNL has concluded plans to launch a new model of Toyota car called the ‘CONQUEST’ early next year. Original plan, according to Ajuyah, was to launch the car in December.

L-R: Mr. Henry Ojuoko, Head Dealer Dept & Special Project, Mr. Andrew Ajuyah, Head Marketing Dept, Bukola Ogunusi, Public Relations Manager, Ravinder Sharma Head Spare Parts during the company’s 4th Quarter Press Forum held in Lagos last week Tuesday, 22nd December 2015
L-R: Mr. Henry Ojuoko, Head Dealer Dept & Special Project; Mr. Andrew Ajuyah, Head of Marketing Dept; Bukola Ogunusi, Public Relations & Advert Manager; and Ravinder Sharma, Head of Spare Parts during the company’s 4th Quarter Press Forum held in Lagos last week Tuesday, 22nd December 2015…(Copyright: Motoring World International)

“It was supposed to come in December,” he explained. “Early next year, we will roll the ‘CONQUEST’ out.

Styled like Toyota Corolla, Toyota Conquest began production in 1988 with a 1.3 litre, 53 kW engine. Its twin cam version was also sold as the RSi Twin Cam with 96 kW. It was sold as a panel van called “Conquest Carri.

The sixth-generation five-door hatchback that was made in South Africa was marketed as the Toyota Conquest. The four-door sedan was also available, but with “Corolla” badging.

From all indications, the conquest might be one of the weapons with which TNL plans to wrestle back its dominant position in the nation’s auto market.

 

Most Popular

Toyota Shutdown More Production Lines After Emission Test Irregularities

Toyota Motor has extended until March 1 the shutdown of two production lines at two manufacturing plants run by Toyota group companies in Japan,...

Volvo Launches New Volvo EX30 Electric

The new Volvo EX30 has officially launched in South Africa, arriving as one of the most accessible fully electric vehicles (EVs) in the country and signaling...

Mercedes-Benz Team Receives another High Profit Sharing Bonus, Amidst Global Economic Crunch

Based on the preliminary results for the 2023 financial year published today, eligible employees are expected to receive a profit sharing bonus of up...