Thursday, September 03, 2015

Nigeria Is A Vibrant Market For Saloon Cars - Local Vehicle Manufacturers

Carmudi predicts that 55% of Nigerians will drive saloon cars

Sedans also known as saloon cars are very popular in Africa, particularly in Nigeria where 55% of searchers are browsing for them, the highest in the region. Domestic auto manufacturers like the Innoson Vehicle Manufacturing, Nigeria’s first automaker, have followed this trend and made history late in November 2014 when it built 500 vehicles, including the Umu sedan at its local plant.
For our neigbouring country Ghana, things look slightly different where 41% of searchers are browsing for SUVs compared to the 35% that are browsing for sedans.

Recent statistics show that sales of SUVs outside North America will surge 40% in the next four years, particularly in Asia. Carmudi data revealed that car buyers in Asia browsed most for sedans, particularly in Myanmar (59%), Sri Lanka (57%), Bangladesh (51%), Pakistan (50%), and Indonesia (38%). While it is unlikely that motorists in Asia will completely turn their backs on sedans, the slow but apparent shift towards SUVs is taking place, notably in the Philippines, where 25% of Carmudi visitors are browsing for SUVs, compared with 19% of users browsing for sedans.

In 2014, for the first time ever, sport-utility vehicles (SUVs) and crossover vehicles (CUVs) surpassed sedans in the United States, accounting for 36.5% of the new vehicle market. For decades, the traditional four-door sedan has dominated global roadways, but the gap has narrowed for years in the West. Carmudi analyzed data based on thousands of listings in the last quarter to understand if the same trend will be seen globally and in Nigeria.

The Middle East is close to the sedan to SUV tipping point, that was seen in the US only a few years ago. In the UAE, 39% of car buyers browsed sedans, compared to 33% of users who browsed large-size vehicles such as the estate, crossover, SUV and vans or minibuses. In Qatar, almost 40% of car buyers browsed for sedans, while 37% browsed for large-size vehicles. Saudi Arabia is leading the SUV charge with 37% of users browsing for SUVs, compared to 30% interested in sedans.

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