Toyota Nigeria Limited (TNL) has predicted five per cent growth in Nigeria’s automobile industry, against the 48 per cent drop it witnessed in the sales of new vehicles in the last nine months of 2017. The Managing Director, Toyota Nigeria Limited, Mr Kunle Ade-Ojo, who disclosed this while addressing journalists in Lagos, said about 7,000 new vehicles were sold in the first nine months of the year. He said the sales represented 48 per cent drop from the total 14,500 units sold in the same period in 2016. Notwithstanding the drop in sales, the TNL boss said Toyota still recorded the highest market share in Nigeria’s automobile industry with 22 per cent as of the third quarter of 2017. Among the Toyota top seller models, which Ade-Oyo mentioned included Toyota Hiace and Avensis.

Source: Nigerian Tribune December 14, 2017 19:18 UTC