February 2, 2018

Peugeot weathers storm despite economic downturn

Peugeot weathers storm despite economic downturn

•One of the Peugeot models.

By Theodore Opara

The Managing Director of PAN Nigeria Limited, assemblers of Peugeot brand of vehicles in Nigeria, Mr. Ibrahim Boyi has disclosed that the company made huge progress in the year that just ended despite the economic downturn in the country.

Boyi who spoke during the company’s 2018 dealer convention in Kaduna recently stated the company revenue grew by 65 percent that is from N3 billion to N5.3 billion. “PAB has made giant stride in 2017 against the heavy and high tidal wave of economic recession, declining value of the naira, access to forex and erosion of infrastructure in the environment” he said.

Explaining further, he said “PAN’s market share was 8 percent down from 12 percent in 2016, revenue grew by 65 percent (to N5.3 billion from N3 billion) and operating profit by 78 percent (to N719 million from N405 million).

According to Boyi, the successes recorded in 2017 was as a result of their dealers and staff’s commitment to the brand and the efforts in delivering the Peugeot promise to their customers.

During the year, Boyi noted that PAN recovered key customers such as the Central Bank of Nigeria (CBN), Federal Inland Revenue Service (FIRS), just as he announced that PAN also acquired new ones such as First Bank of Nigeria (FBN), Reckitt amongst others in 2017.

On their achievements, the CEO said PAN’s Peugeot 301 was acclaimed Car of The Year (COTY) by Nigeria Auto Journalists Awards (NAJA) for the second year running while the CEO of PAN was also the CEO of the year.

To sustain these achievements and pursue the drive to market leadership, Boyi made it clear that their customer services must be continuous improved with the highest levels of excellence, accurate, affordable and with responsive after-sales care.

In 2018, he said PAN’s management will vigorously pursue this regular objective across the dealership network and after sales points.

“In order to expand standard aftersales care to all modern auto owners, especially Peugeot, PAN floated the Shade Tree Youth Empowerment Initiative (STYEI) as a quick and standard primary auto care solution. This will make it easy to access proper care across the country”, Boyi said.

In his remarks, Managing Director of the Assets Management Corporation of Nigeria (AMCON), Ahmed Kuru said PAN has grown to a height that requires commendations.

Kuru who was represented by Head of Subsidiaries of AMCOM, Mr. Ben Aminabo said “This is the best time for PAN to restrategise and move ahead. I wish Peugeot will come back to producing those vehicles that made the brand very popular in those days. because we had some things in that period which have come back. The particular brands that Peugeot has today are fuel efficient. Peugeot should be thinking of gas efficiency as well. Peugeot is made in Nigeria; it creates job and other advantages. Let’s support our own.”

Also in his remark, the General Manager, Sales and Marketing of PAN, Mr. Omagbitse Bawo said , despite trying times, PAN achieved much in 2017 which the management has already acknowledged. He however, added that the focus is on customers and how well they are serviced in the year 2018.

At the event, PAN rewarded all dealers with share of incentives from direct sales based on their individual performances.

They recognized and awarded laurels to the best vehicles sales dealer. They also recognized PAN’s marketing and sales staff for best sales performance, most valuable contribution in aftersales and innovation.

Under dealers’ award category, 2017 Best Dealer of The Year award went to Kaura Motors while Car Craft Workshop and ASD Motors took second and third position respectively.

2017 After-Sales Dealer of the year went to Kaura Motors while Road Truckers and Oluwalogbon took the second and third positions respectively.

Kaura Motors took first position in the 2017 Spare Parts Dealer of the Year award while Car Craft Workshop and Road Truckers took second and third positions respectively.

In 2017 New Vehicle Sales Dealer of the year award, Kaura Motors, Oluwalogbon Motors and Road Truckers came first, second and third positions respectively.

Executive Motors took first position while Al Mansur took the second position in the Registration of Independence for Expanding of Sales Frontiers award.

Engr. Kafaru Abayomi won the award for Innovation and Technological Contributions to After-sales and Improved Cost Experience while Abdulhafiz Salaudeen won award for Development of After-sales Maintenance Plan in 2017 Business Year.

Mrs. Bose George won award for Management of Sales, Admin Support within the Sales Network while the Best Sales Region award went to the North Central part of the country.