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Nairaland Forum / Nairaland / General / Car Talk / Price Of New Model Cars On Nairaland? (6663 Views)
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Price Of New Model Cars On Nairaland? by Areaboy2(m): 1:29pm On Sep 27, 2012 |
I just wonder why new model cars are ridiculously expensive on Nairaland (and I'm guessing most of Nigeria). I'm not a car dealer so I wouldn't know all the intricate details of making a profit and the overheads involved. Example, I saw a brand new Camry LE for 6.1 million Naira. While the MSRP is at $22,500 (roughly 3.6 million Naira). lets be generous and say shipping and clearance is 1 million naira. That's about 1.5m left, all that is profit? or am I missing some hidden charge? The same is evident for most new models! or are we selling it along with the hype of owning a "special" car? ![]() 4 Likes |
Re: Price Of New Model Cars On Nairaland? by femmy2010(m): 7:41pm On Sep 27, 2012 |
Area_boy: I just wonder why new model cars are ridiculously expensive on Nairaland (and I'm guessing most of Nigeria). Custom clearance for a 2012 Camry is not less than N1.450m and could go as high as N1.7m. Factor that before reaching your final conclusion. |
Re: Price Of New Model Cars On Nairaland? by Areaboy2(m): 11:43am On Sep 28, 2012 |
femmy2010: Thanks for the input! That's why I had to ask cos it is quite puzzling. But why so freaking expensive? I'm guessing 1.7mil for xle camry or so?. That indeed does fill up the gap! but will only make business difficult for small scale retailers when outlets like Honda place for example can compete with that prize and offer after sales service and plenty extras! |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 3:07am On Oct 01, 2012 |
Nice thread and i hope this will help a lot of people to be educated about the cost involved in importing/exporting rides to Nigeria. The ride you see at 22,500$$ will cost another 350$$ to take to the port, will cost another 1200$$ to ship to Nigeria, 100$$ to send BOL to Nigerian while will cost money to transfer the money from Nigeria to USA or Canada, and like we have been told could cost up to 1,7M Naira to clear the ride and i am sure for a brand new ride, it is even more complicated. . . . You do the math, right there it is over 5.6M Naira . . . . |
Re: Price Of New Model Cars On Nairaland? by aaidel(m): 3:22pm On Oct 01, 2012 |
Ok but why will the clearing be that expensive isn't it supposed to be a percentage of the cost of the car if so why is it almost 50%? |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 3:24pm On Oct 01, 2012 |
aaidel: Ok but why will the clearing be that expensive isn't it supposed to be a percentage of the cost of the car if so why is it almost 50%? I think that is a good questions that could be directed to the Nigerian govt and their customs dept. But i am sure it is probably because they are trying to encourage people to be buying from the Nigerian registered and accredited Toyota dealers, that are selling below standard in safety rides to the people. |
Re: Price Of New Model Cars On Nairaland? by femmy2010(m): 4:54pm On Oct 01, 2012 |
Fhemmmy: you said it all. |
Re: Price Of New Model Cars On Nairaland? by Areaboy2(m): 1:43pm On Oct 02, 2012 |
Fhemmmy: When you say below safety standard, do you mean Toyota will knowingly sell a car that isnt up to international standards in Nigeria? All in the name of profit? I strongly doubt that! Maybe you mean lower luxury options? Cos then we all know Americans are the luxury crazy ones. European models still cant compare with the Americans in that sense. So maybe the question could be, is the extra luxury option really that much worth it? |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 1:54pm On Oct 02, 2012 |
Area_boy: I mean unfortunately, we have 2 sets of people: the people that their life worth something and those that their life are not even better than the life of the dogs and cat in the developed world (According to our government) - Cos it must have been such for them to allow a brand new car in Nigeria to be sold with only 2 airbags at the front, one on passenger side and the other on the steering, God forbid in an accident, the people are the back are doomed, or a roll over, the airbags are then useless . . . Call MOST of the Brand new dealers in Nigeria (Kia, Toyota, Hyundai) and the rest that sells the ride cheaper and you will realize that their "Brand New" rides comes with less than standard safety and yet our govt have nothing to say to that . . . Yet, the govt wanna discourage people from buying and importing into the country to make sure they are safe and not buying the moving coffin. 1 Like |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 1:58pm On Oct 02, 2012 |
Area_boy: Call Elizade and ask for the price of a Brand New Toyota Corolla, but please remember to ask them how many airbags comes with the ride. A normal brand new 2012 Corolla comes with Front, side curtains airbags, meaning 6 airbags . . . except you mean airbags in a ride is luxury - And i will bet to disagree that when you are paying millions of your hard earn money, you ought to know that you are safe to some certain extent that human factors could prevent. 2 Likes |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 2:01pm On Oct 02, 2012 |
Area_boy: Americans and Europe are not luxury crazy at all, they just think you work so hard for your money and there is nothing wrong if you enjoy it, you spend average of 3 hours a day in your car, and u need to enjoy it, you paid so much for it, so you need to be safe. Canada is even different, they will not allow a ride from Europe into Canada without customization, cos they care about the environment, and they blv that the gas emitted from European machines are dangerous to the environment - Thus people are crazy for American (Canadian) Specs. |
Re: Price Of New Model Cars On Nairaland? by Areaboy2(m): 3:32pm On Oct 02, 2012 |
^^ That's really interesting to know! But somehow I cant help but feel it is just economic reasons wrapped around the disguise of safety and environment |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 3:38pm On Oct 02, 2012 |
Area_boy: ^^ You mean the govt that supposed to make sure that her people are safe and well will compromise safety all in the name of economy? |
Re: Price Of New Model Cars On Nairaland? by aaidel(m): 11:17pm On Oct 02, 2012 |
Hmmmm but sometimes you get cars from private dealers that are cheaper than the toyot accredited dealers and besides it seems a if u want to discourage people buying second hand accident cars then duty should be cheaper on new cars to make them more affordable |
Re: Price Of New Model Cars On Nairaland? by jeezybuck: 8:40am On Oct 03, 2012 |
Am loving this thread, Keep it coming |
Re: Price Of New Model Cars On Nairaland? by Areaboy2(m): 9:51am On Oct 03, 2012 |
aaidel: Hmmmm but sometimes you get cars from private dealers that are cheaper than the toyota accredited dealers and besides it seems a if u want to discourage people buying second hand accident cars then duty should be cheaper on new cars to make them more affordable Yea, makes sense. But from Fhemmy's contribution, it seems the govt is trying to help local car dealership grow. If everyone can afford an American car, then local dealers will suffer (like everything else in Nigeria, we hate local and love foreign). A country like Malaysia imposes a 300% tax on foreign cars (as at 2006) in order to help Proton and the rest sell well. So I can understand FG's stance on imposing such high tax (which never occurred to me until Fhemmy cleared it up). This begs another question, why then will the local Toyota accredited dealers sell at double the MSRP in America? Logistics? or tax? or both? or simply due to lack of regulation? Having said that, I still disagree with Fhemmy on the issue of sub-standard cars. The cars a pretty much the same bar accessories**. The chassis, composites and body work is standard from Toyota. Every other addition is merely an accessory as is evident with Hiace, Hilux and some other brands. I can understand the Canadians when the decide to get the highest quality in terms of driving aid and accessories. If you've seen the Canadian winter, you'll understand why they need such standards. It all comes down to buying a 2-3year old low mileage car with a perfect history rather than hustling for a brand new. Cos it makes no sense for me to buy a 2012 Camry for over 6million, when I can get a 2010 Lexus gs350(with Mark Levinson audio) for less that price. No brainer ** It is important to note however that I'm not certain about the braking system as standard since this is factored into the overall safety rating of the car. Conversely, I remember when Toyota had recalls for their camry and corolla brands due to brake issues, My friend with his brand new corolla had the same braking problem and had to take it for an upgrade. His Toyota was bought from the Nigerian dealer, so it is fair to reach two conclusions 1) The standard crucial safety features are universal, or 2) Nigerian Dealers offer Higher safety at higher prices |
Re: Price Of New Model Cars On Nairaland? by Nobody: 7:36pm On Oct 03, 2012 |
Area_boy: If I may comment, phemmy is actually correct. Most countries have a standard organization agency that ensures quality stuff is produced or imported into its country. Unfortunately, in a country like naija..anything goes. Have u ever wondered why a fairly used Nokia from Europe last longer than that produced for east Asia/African markets. Yes these big companies produce different product for different markets. You would have noticed that naija used corolla(bank type) are always much cheaper than naija used American corolla. The bank type turns rickety in a very short time unlike the American version.....and It's not even about luxury, a 2003 corolla ce(basic) trim still commands an higher price than a 2007 bank type on the naija used car market 1 Like |
Re: Price Of New Model Cars On Nairaland? by tampa1871: 10:55pm On Oct 03, 2012 |
saxywale: I bet you, in America and Canada, Keke NAPEP would never be road worthy. I live in America and have seen cars made for Europe. Compare their engines and you will notice that American specs are more powerful, durable and safer because if not, the consumers will not buy them. PEUGEOT and FIAT could not compete in North American markets yet people are dying for them in Nigeria. NO STANDARD BETTER THAN AMERICAN in automobiles. |
Re: Price Of New Model Cars On Nairaland? by Ikenna351(m): 12:37am On Oct 04, 2012 |
tampa1871: Did you bother to find out why or the true reason Peugeot left US & Canada? For you to say they left because they couldn't compete with other brands in both 2 countries means you didn't do your homework well. Don't talk about what you are not sure of. North America? Peugeot left US and Canada & not North American market. Mexico is North America and they still have strong presence of Peugeot, just like Nigeria. Ikenna. |
Re: Price Of New Model Cars On Nairaland? by sultaan(m): 1:42am On Oct 04, 2012 |
Same reason Toyota Hiace is not sold in US, no driver /passenger safety |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 3:05am On Oct 04, 2012 |
Area_boy: In Malaysia, they have Proton to protect, what has Nigeria got to protect, Inoson (Not sure if i have it spell right) Tell me how many of the govt officials are using that brand, they are still all using Range, Toyota and the rest and all the ones they are driving are all imported, how come they are not buying the `box of death`they are trying to force the people to buy and spend money on There is nothing wrong in protecting local businesses, but not at the expense of people`s lifes. |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 3:08am On Oct 04, 2012 |
Area_boy: Having said that, I still disagree with Fhemmy on the issue of sub-standard cars. The cars a pretty much the same bar accessories**. The chassis, composites and body work is standard from Toyota. Every other addition is merely an accessory as is evident with Hiace, Hilux and some other brands. You mean airbags is just an accessory? Please tell me you are kidding, cos airbag is safety, i cant remember that Nigerian musician ( i think he is called Dagrin(not sure if i have him spell right) the dude might still be alive if he was driving a ride with proper airbag . . . Safety is a basic standard in a ride and not a luxury. |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 3:12am On Oct 04, 2012 |
Area_boy: I can understand the Canadians when the decide to get the highest quality in terms of driving aid and accessories. If you've seen the Canadian winter, you'll understand why they need such standards. The Standard that the Canadian govt have put in place was because they know what their job is and cos they wanna protect the people that voted for them, most of the rides driven by the Canadian govt are Canadian/American assembled, unlike our govt that have no clue what that means . . . The govt in the western world do care about their environment and the kinda gas that are being sent into the atmosphere, and that is why when you see a ride on the road like the `molue`such ride will be pulled fast and will end up as junk . . . but just give some of the Nigerian officials 20 Naira and such ride will pass safety in Nigeria . . |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 3:14am On Oct 04, 2012 |
Area_boy: If you think it is a good idea what the govt is doing, mind you Lexus is owned by Toyota and same idea still applies . . . How come the Nigerian govt is not encouraging the Imoson Motors in Nigeria? |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 3:16am On Oct 04, 2012 |
Area_boy: What kinda safety, cos safety is more than braking systems. |
Re: Price Of New Model Cars On Nairaland? by jestrinsmith: 9:03am On Oct 04, 2012 |
Cool! Thanks for the post. ![]() |
Re: Price Of New Model Cars On Nairaland? by Areaboy2(m): 11:18am On Oct 04, 2012 |
hmmmmm. I now understand your argument clearly. it is true that substandard products fly through the Nigerian market easily since we don't have a decent agency to check this. It is also important to note that substandard products (at cheaper price) helps a developing country or a growing economy get a reasonable foothold in the global scale. Take Germany for instance, in the early part of the 20th century German products were always substandard and cheaply made compared to their neighbours. This helped them go through the 1930's recession and also escape from the great depression america suffered as well as fuelling their economy in preparation for Hitler's war. Maybe we are looking for quality too soon in Nigeria? I have seen Toyota Hilux in Asia/Europe and I must say the Nigerian equivalent is rubbish compared to them in the same way a German product will outclass any of them. Funny thing is we are an import based economy and I still cant understand why Local accredited dealers will opt for substandard (actually I do, Profit). The questions is, how would they perform in a crash test (frontal, side and rear impact)? In the case of Dagrin (pardon my spelling), he had a Nissan Altima or Maxima and that must have been American spec, so still doesn't explain the difference in substandard and above standard cars. On the issue of whether this is a good idea or not? My answer is Yes and No; - Just like everything else in Nigeria, we seem to do them haphazardly in the sense that such regulations must also ensure that we can get the same build/safety quality the American spec would have from our local dealers. - So, since we don't have a good system in place to tackle this, it then becomes a bad idea to impose such ludicrous taxes on import. Lexus isn't just a Toyota, it is a Toyota with a difference. A Toyota built to rival the likes of Mercedes, BMW and Audi. Since brand new Toyota imports into Nigeria costs that much, It would make sense to buy a good fairly used older model of Lexus. I doubt the tax imposed on a 2010 Lexus will be the same on a 2012 Toyota or is it? |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 3:31pm On Oct 04, 2012 |
Area_boy: Yes, he does and we dont know too much about the story that surrounds how he bought the ride, however, there are some dealers that send nonsense to Nigeria and people buy them, all in the name of saving some Naira, so my argument to you is that airbag is not luxury in a ride, it is a safety standard, so if an american standard ride could be like that cos of some greedy dealer(s), then, imagine something that dont even have the safety that ought to be standard. |
Re: Price Of New Model Cars On Nairaland? by jeezybuck: 6:51am On Oct 05, 2012 |
Please keep it coming, There is so much to learn here. Thumbs up to every contributor. |
Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 12:37am On Oct 07, 2012 |
jeezybuck: Please keep it coming, There is so much to learn here. Thumbs up to every contributor. Lol . . There is love is sharing . . |
Re: Price Of New Model Cars On Nairaland? by datola: 8:14pm On Oct 07, 2012 |
I think it's the two front airbags that are more important even in American vehicles. Others are most times optional except may be in the latest cars. I've not come across any 2007 Toyota Corolla American spec with more that two airbags. This is not in any way to water down the importance of sefety in cars. When I was shopping for a car I insisted on having side airbags in addition to the front ones and my highly educated friends were like: what kind of a christian are you putting his faith in airbags. Let me ask: to what extent can airbags save in the event of crash. I saw this Dagrin's story online. Please sorry if the pictures offend- it's for us to learn and safe lives.
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Re: Price Of New Model Cars On Nairaland? by Fhemmmy: 8:25pm On Oct 07, 2012 |
datola: I think it's the two front airbags that are more important even in American vehicles. Others are most times optional except may be in the latest cars. I've not come across any 2007 Toyota Corolla American spec with more that two airbags. . That is not true at all, but this makes me to think of an analogy, A man that has never seen more than a one bedroom house, given millions of $$ told to build a house will only build a one bedroom house, cos that is all he ever knew, such is the case of people that have bought a brand new ride in Nigeria, all they ever known is 2 airbags at the front, but please note that a normal ride made by reliable people for humans comes with minimum 6 airbags, and if you ever seen an accident of a roll over vehicle, you will change your mind that side curtain airbags are just as important as the 2 that you thought are the most important, head injury is one of the most dangerous injury . . . . |
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