THE Marketing Manager of Toyota Nigeria Limited, TNL, Mr. Andrew Ajuya, has explained the declining sales in the automobile sector, blaming it on government’s inability to purchase new vehicles and the chain of events in the banking sector.
Answering questions from reporters during the press presentation of the new Toyota Avanza, Mr. Ajuya explained that the market has been dull because government was no longer buying vehicles as a result of turn of events in the oil sector.
It has been observed that there has been a decline in the number of vehicles sold in the last five month when compared to the same period last year by all the automobile marketing companies in the country.
Mr. Ajuya said: “What drives automobile sales in the country is government purchase and the commercial sector. He disclosed that in the last five months, government had planned its revenue from oil sales, subsidy removal, but unfortunately oil production declined resulting in government to cutting down on spending.”
Accordig to him, the happenings in the banking sector has affected the way the banks replace their fleets. “What has been happening in the banking sector where retrenchments has been going on is also affecting the car market.You don’t expect a bank that is retrenching staff to be buying new vehicles,” he said.
Speaking on the competition for their latest arrival in the market, the all new Avanza, the Marketing Manager said there was no competion so far, because the new Avanza stands out in terms of engine size, comfort, fuel efficiency and road handling.