TOYOTA Nigeria Limited has projected to sale 18,500 vehicles before the end of the year. The company is however, not far from achieving the record, having sold about 18,123 vehicles from January to November 2012.
Managing Director, Toyota Nigeria Limited, Mr. C. K. Thampy gave this hint recently, during the quarterly press chat with Motoring Journalists at their Lekki Lagos office.
He disclosed that, Toyota is still maintaining the lead as the number one brand in Nigeria in 2012 having already surpass its previous year’s record by 27 per cent.
According to him, Toytota Nigeria Limited import volume from January to November 2012 stood at 18,123 as against 14,237 during the same period last year. This, according to him, is a 27 per cent improvement from the previous year with a difference of 3,886 units. He added that at a projected sales of 18,500 units for 2012, TNL market share should grow by two per cent.
The Toyota boss further stated that there was seven per cent drop in volume in the local auto industry from 47,267 in January — November 2011 to 44,027 in Janaury — November 2012.
Thampy, however, blamed the drop on some factors, ranging from the fuel subsidy removal strike to reduced spending by government in 2012.
The factors that affected the Nigerian auto industry according to him include the fact that: The year 2012 started on a “turbulent” note with the fuel subsidy removal strike which slowed down business activities in the country. Also market activities slowed down particularly after the first half of the year with no significant signs of improvement thereafter. This was partly due to reduced spend by government as a result of the 2012 budget which was not fully implemented,” he said.
Government and Corporate purchases were dull during the period while businesses continued to witness difficulty in accessing credit facilities from banks. Also currency fluctuation during the early parts of the year adversely affected the industry, he concluded.
Globally, the Managing Director explained that Toyota did credibly well, despite many challenges from 2011. The performance of Toyota, he said earned it outstanding global recognitions. Some of which include awards as the only auto brand among the first best ten globally recognized brands in 2012 by www.interbrand.com. Toyota was also named 2012 Most Valuable Auto Brand by www.interbrand.com as well as the number one among best fifty global GREEN brands in 2012 by www.interbrand.com