Nigeria’s automobile sector is about to witness a remarkable come-back as the renowned French automaker, Renault, collaborates with one of the industry’s front-runners to re-launch its vehicles in the local market.
To consummate this new partnership, Renault will on Thursday, July 18, 2019, take a giant stride back into the Nigerian market; but this time around, ushered in by the country’s foremost automobile dealership, and one of the subsidiaries of the Coscharis Group, Coscharis Motors Plc.
The partnership, which involves both local production and distribution, will take off with the assembly of two of Renault’s popular products, Logan and Duster, at the existing Coscharis assembly facility in Lagos. Additionally, Renault Kwid and Renault Oroch, will be imported as complete built units (CBUs) in due course.
“With a population of over 200 million, Nigeria is a strategic African country where Groupe Renault will extend its footprint. The Coscharis Group is a recognised player in vehicle assembly and distribution. Thanks to their expertise and our products adapted to the local needs, we will be able to answer immediately to the customers’ demand in Nigeria,” said the Senior Vice President and Chairman of the Africa, Middle-East India region of Groupe Renault, Fabrice Cambolive.
Groupe Renault is leading the African continent with an 18 percent market share. In 2018, Groupe Renault sold more than 216 000 vehicles in Africa. The most important countries in sales volume are currently Morocco, Algeria, South Africa, Egypt. The group’s objective is to maintain its leadership within these countries and respond to the demand of the new emerging middle class of the countries like Nigeria.
Commenting on this new business collaboration, the President/CEO of Coscharis Group, Dr. Cosmas Maduka, said, ‘’This partnership is to showcase another initiative from our great organisation through one of our subsidiaries, Coscharis Motors, to further create value as a key player in the automobile industry in Nigeria; 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’’.
According to Maduka, “this partnership is to further delight the esteemed loyal customers and prospects alike, especially towards providing them a bouquet of more options and value for money. In his words, ‘’We are committed to broadening our dealership scope when such opportunity as this happens, since it is a strategic opportunity to deliver capable, refined and cost-effective vehicle models to our ever loyal customers’’.
This milestone is expected to re-shape the automobile industry in Nigeria. It will take place at the Coscharis Motors Assembly facility in Awoyaya, along Lekki-Epe Expressway, Ibeju-Lekki, Lagos. It will be witnessed by dignitaries, including representatives of government, members of the diplomatic corps, industry stakeholders and car enthusiasts.