Nigeria's Car Market Shifts to High-End SUVs
According to Esu Bassey-Duke, Managing Director and CEO of Stock Motorcars Limited, high-end SUVs are currently in high demand in Nigeria.
This shift is driven by growing interest in newer models and rising import costs for older vehicles, Bassey-Duke revealed in an interview with Nairametrics.
- Mid-size to large SUVs are more in demand than sedans at his Ogudu car lot.
- Popular models include the Mercedes GLE, Toyota Highlander, Toyota RAV4, Lexus LX, Hyundai Tucson, and Mazda SUVs.
- Vehicles from 2014 models and newer are mainly purchased by middle- and upper-income buyers.
Bassey-Duke's observations reflect the activity of a dealership that imports vehicles through its U.S. operations.
Author's summary: Nigeria's car market favors high-end SUVs due to rising import costs.