Prices of Imported Tokunbo Cars Expected To Rise Appreciably From 2015.

Date: 31-12-2014 3:26 pm (6 years ago) | Author: CLARA JANCITA
- at 31-12-2014 03:26 PM (6 years ago)
Online (f)

Prices of imported used cars are expected to rise appreciably in the New Year as the Federal Government begins the collection of 70 per cent duty on second-hand vehicles imported into the country from January 1, 2015.
This is the second phase of the national automotive policy, which was announced in November 2013.
In a move to encourage local assembling of vehicles, the government had last year raised the import tariff on fully-built cars and used vehicles from 22 per cent to 70 per cent. The first phase of the policy involving the payment of 35 per cent duty came into effect in February 2014.
The second phase of the policy involving another 35 per cent increase of the levy, expected to take effect on July 1, 2014, was later postponed to January 1, 2015 after consultations with stakeholders.
Following the first 35 per cent duty increase on imported used cars, auto dealers at the Berger Yard Auto Market along the Apapa/Oshodi Expressway in Lagos reportedly reduced the number of imports by half due to a corresponding rise in the cost of imports.
Dealers, who spoke with our correspondent, said sales had been badly hit as a result of the implementation of the first phase of the policy.
When our correspondent visited the Berger Yard Auto Market on Tuesday, activities had considerably slowed down. Car dealers hanged around the various parks at the huge market and called out to passers-by in the hope of getting them to purchase some of the vehicles on display.
A car dealer, Okechukwu Madueke, said, “Compared to previous years, sale this Yuletide is really bad. Usually at this period, we would have many people rushing to buy cars. At this park alone, we could sell between 10 and 15 cars daily; so, by the time you put the figure together for the other parks, you will know how well we were doing then. But now, it is a struggle to sell two to three cars daily.
“I actually expected that there would be a rush to buy vehicles before the January 1 deadline to beat the enforcement of the second phase of the tariff increase, but things are not going that way at all.”
The car dealer also said the heavy traffic along the Oshodi/Apapa Expressway and the devaluation of the naira were other factors that could be responsible for the poor sale.
Our correspondent gathered that the current situation at the Berger Yard Market had been so for the past six months. Some dealers expressed their frustration at the traffic situation along the route, which they said could be one of the reasons for the drop in sales.
As of the time our correspondent visited the market, petroleum tankers had completely blocked the expressway from Mile 2 to Apapa.
Another dealer, Iyke Okoye, said, “Sometimes, buyers turn back at Mile 2 out of frustration after spending many hours in the traffic trying to get to this market. The reality is that there are other auto markets at FESTAC and in other areas of Lagos where they can buy cars. If people have to spend hours in the traffic to get here, they can as well go to other places if only to save themselves the stress.
“Accidents happen here on an hourly basis because the petroleum tankers parked indiscriminately along the road. So, we don’t know if this is the reason why people no longer buy from us.”


Posted: at 31-12-2014 03:26 PM (6 years ago) | Hero
- echeeche at 31-12-2014 03:45 PM (6 years ago)
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ok, let us wait
Posted: at 31-12-2014 03:45 PM (6 years ago) | Hero
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- zoe61 at 31-12-2014 04:53 PM (6 years ago)
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nonsens
Posted: at 31-12-2014 04:53 PM (6 years ago) | Hero
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- DrSoba at 31-12-2014 04:55 PM (6 years ago)
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F**k, my cars are still on way.
Posted: at 31-12-2014 04:55 PM (6 years ago) | Gistmaniac
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- femjay at 31-12-2014 04:57 PM (6 years ago)
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Thank God say I don't buy tokunbo cars .........
Posted: at 31-12-2014 04:57 PM (6 years ago) | Gistmaniac
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- beneno at 31-12-2014 05:51 PM (6 years ago)
(m)
 Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Posted: at 31-12-2014 05:51 PM (6 years ago) | Addicted Hero
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- deboalabi262 at 31-12-2014 06:19 PM (6 years ago)
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 Huh? Huh? Huh?

Posted: at 31-12-2014 06:19 PM (6 years ago) | Hero
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- morgrawl231 at 31-12-2014 07:32 PM (6 years ago)
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 Roll Eyes
Posted: at 31-12-2014 07:32 PM (6 years ago) | Hero
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- Ecto at 31-12-2014 10:12 PM (6 years ago)
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Nonsense

U dont want tokumbo car but U import Matches from Abroad
Posted: at 31-12-2014 10:12 PM (6 years ago) | Gistmaniac
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- dareper at 31-12-2014 11:09 PM (6 years ago)
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My car. Still the swim river dey come from america
Posted: at 31-12-2014 11:09 PM (6 years ago) | Hero
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- yeksal at 31-12-2014 11:09 PM (6 years ago)
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@ Eric u ar too sentimental dat u lied against ppl on social media.
go bak to history and u shall discover dat d number of roads GMB constructed as ptf chairman in 4 years is more dan wot FG as constructed for d past 15 years
Posted: at 31-12-2014 11:09 PM (6 years ago) | Upcoming
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- Wysetots at 1-01-2015 07:04 AM (6 years ago)
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Thanks to GEJ,

Every 1st of January he seems to have bad news for the people.

Clueless !!
Posted: at 1-01-2015 07:04 AM (6 years ago) | Hero
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- Adbb at 1-01-2015 08:16 AM (6 years ago)
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Gej wants to force high interest car loan on civil servants if not y go frm 22 to 35 n 70, if he cuts the exec n legis allowance n salary dat would be a fair start
Posted: at 1-01-2015 08:16 AM (6 years ago) | Upcoming
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- Abubu86 at 1-01-2015 09:05 AM (6 years ago)
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It is well
Posted: at 1-01-2015 09:05 AM (6 years ago) | Gistmaniac
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- Abubu86 at 1-01-2015 09:05 AM (6 years ago)
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It is well
Posted: at 1-01-2015 09:05 AM (6 years ago) | Gistmaniac
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- issy4m at 1-01-2015 09:46 AM (6 years ago)
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GOOD LET TOKUNBO CAR STOP AND SPARE PART SELLER GO BACK TO THERE VILLAGE AT LIST JONATHAN IS THERE CHOICE WHO HAS NO SHOE THAT WANT TO REMOVE THE LEG FROM THEM GOOD IDEA LET SEE WHO GONNA SUFFER FOR THE ACTION
Posted: at 1-01-2015 09:46 AM (6 years ago) | Upcoming
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- Aniagain at 1-01-2015 10:16 AM (6 years ago)
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I dont  know wat people see in this GEJ that they still prefer him o, he started wit fuel, now tokunbo cars soon we will av to pay if we must use our legs to trek, Buhari is not an option either. I rather rot in jail than vote GEJ or Buhari

Posted: at 1-01-2015 10:16 AM (6 years ago) | Gistmaniac
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- Larry28 at 1-01-2015 11:05 AM (6 years ago)
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Ok
Posted: at 1-01-2015 11:05 AM (6 years ago) | Hero
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- Swisslife at 2-01-2015 03:58 AM (6 years ago)
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Shamful country, if the stop importation of tokumbo cars, there the will see hails in niaja, criminals and shit goverment
Posted: at 2-01-2015 03:58 AM (6 years ago) | Newbie
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- factfinding at 2-01-2015 07:15 AM (6 years ago)
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Before the Govt will start this their madness they should first of all check the standard of those cars that are been build in Nigeria, second check the price, is it affordable for the common man as they use to call it?do those cars meet international standard in terms safety and  long period of using,  or do the manufacturer build those cars to enrich their bank account? not considering the safety of the users, Govt should also consider that not all Nigerians can afford new cars, not everybody is in that seat of power where they STEAL....ROOT......EMBEZZLE fund so easy.
Posted: at 2-01-2015 07:15 AM (6 years ago) | Gistmaniac
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