Autos Recovery Will Be Slow

Nigeria's automotive market took a huge knock from the global economic crisis, and while it is recovering, the pace is slow. Domestic sales fell to 16,096 in 2009, down from 37,377 in 2008 and 84,389 in 2007, according to BMI figures; a serious decline. We expect sales to creep upwards to 20,968 in 2010 and rise to 42,847 in 2014, relatively low figures given the size and potential of the market.

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