Renault optimistic about Nigeria’s auto sector

(Photo by LOIC VENANCE / AFP)

•To assemble 18, 000 cars daily
With the reintroduction of the Renault brand in Nigeria, the French automobile giant is optimistic that the product will compete with used cars in the country.

Renault, which was formerly distributed by CFAO group and later Dana Motors, returned to the country through a pact with Coscharis Motors Plc to assemble locally.

This partnership aims to establish a strong position for the Renault brand and its products with a range of cars produced locally with Logan and Duster, and cars imported from Brazil with Kwid and Oroch.

Besides, Coscharis Motors said it would assemble at least 18,000 cars daily with its partnership with Renault group.

The firm added that the partnership would create job opportunities for Nigerians, which would enhance national development.

Speaking at the official announcement of its Semi – Knocked Down (SKD) assembly manufacturing plant between the duo in Lagos, Chief Executive Officer (CEO), Coscharis Group, Cosmas Maduka, said the firm intends to create a product that can compete with used cars.

He noted that the assemble plant is built to have a capacity on one shift of 18,000 cars and 36, 000 cars on double shift adding that if the economy is favourable to have three shifts they would produce 48,000 units of vehicles daily.

“We are glad to celebrate the confidence the renowned brand, Renault reposed in us to represent them in Nigeria. This milestone marks another step in the evolution of our organization towards remaining timeless in its relevance’’.

Maduka,the new addition would avail consumers the opportunity to have brand new vehicles at affordable prices with seven years life span.

According to him, the government can assist by providing an enabling environment through infrastructures and creating policies that support local manufacturing.

Chairman Africa, Middle East, India and Pacific Region of Groupe Renault, Fabrice Cambolive, expressed excitement that Renault is back in Nigeria, saying the group will be introducing four products into the market which would suit the need of the people.

He said the plant is very rationale and straight forward which would promote quality standards.

He explained that cars produced would be affordable because taxes would be reduced as they would be locally produced and the cars would come with three years warrantee.

According to the Group managing Director, Coscharis Group, Josiah Samuel, said as the company begins to assemble, there would be investors especially local ones because of large demand of some products.

“As we start assembling and as the volume grows, those who make the car components like the battery, glass, seats manufacturers, would easily invest.

“To achieve this, we need to create an incentive that would be attractive enough and it would require growing the volume,” Samuel said.

Representing the Comptroller-General of customs, Hameed Ibrahim Ali (Rtd), Patience Burromvyat, noted that customs would offer support to ensure the partnership gets to greater heights.

She described the assembling plant as an ultra modern facility which is properly equipped for the project on ground.

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