New Cars in Nigeria

November 2024 | 44 pages | ID: ND71B85905DEN
MarketLine

Abstracts

New Cars in Nigeria

Summary

New Cars in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

• New cars market consists of the retail sales/registrations of new passenger cars. Passenger cars include saloons, hatchbacks, SUVs, 4x4s, and light pickup vehicles. Market volume refers to the total number of cars sold in a year, while market value is calculated by multiplying the average retail selling price with the market volume.
• The Nigerian new cars market recorded revenues of $0.4 billion in 2023, representing a compound annual growth rate (CAGR) of 18.6% between 2018 and 2023.
• Market consumption volume increased with a CAGR of 18.5% between 2018 and 2023, to reach a total of 6,922 units in 2023.
• According to GlobalData, in 2023, the revenue of the Nigerian new cars market recorded an annual contraction of 16.1% due to the high interest rates, which impacted financing options for consumers.

Scope

• Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the new cars market in Nigeria
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the new cars market in Nigeria
• Leading company profiles reveal details of key new cars market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria new cars market with five year forecasts

Reasons to Buy

• What was the size of the Nigeria new cars market by value in 2023?
• What will be the size of the Nigeria new cars market in 2028?
• What factors are affecting the strength of competition in the Nigeria new cars market?
• How has the market performed over the last five years?
• Who are the top competitors in Nigeria's new cars market?

Contents

1 EXECUTIVE SUMMARY

1.1. Market value
1.2. Market value forecast
1.3. Market volume
1.4. Market volume forecast
1.5. Geography segmentation
1.6. Market share
1.7. Market rivalry
1.8. Competitive landscape

2 MARKET OVERVIEW

2.1. Market definition
2.2. Market analysis

3 MARKET DATA

3.1. Market value
3.2. Market volume

4 MARKET SEGMENTATION

4.1. Geography segmentation

5 MARKET OUTLOOK

5.1. Market value forecast
5.2. Market volume forecast

6 FIVE FORCES ANALYSIS

6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry

7 COMPETITIVE LANDSCAPE

7.1. Market share
7.2. Who are the leading players?
7.3. What are the strategies of the leading players?
7.4. What are the strengths of the leading players?

8 COMPANY PROFILES

8.1. Hyundai Motor Co
8.2. Stellantis NV
8.3. Volkswagen AG
8.4. Renault-Nissan-Mitsubishi Alliance

9 MACROECONOMIC INDICATORS

9.1. Country data

10 APPENDIX

10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine

List Of Tables

LIST OF TABLES

Table 1: Nigeria new cars market value: $ billion, 2018-23
Table 2: Nigeria new cars market volume: units, 2018-23
Table 3: Nigeria new cars market geography segmentation: $ billion, 2023
Table 4: Nigeria new cars market value forecast: $ billion, 2023-28
Table 5: Nigeria new cars market volume forecast: units, 2023-28
Table 6: Nigeria new cars market share: % share, by volume, 2023
Table 7: Hyundai Motor Co: Key Facts
Table 8: Hyundai Motor Co: Annual Financial Ratios
Table 9: Hyundai Motor Co: Key Employees
Table 10: Stellantis NV: Key Facts
Table 11: Stellantis NV: Annual Financial Ratios
Table 12: Stellantis NV: Key Employees
Table 13: Stellantis NV: Key Employees Continued
Table 14: Volkswagen AG: Key Facts
Table 15: Volkswagen AG: Annual Financial Ratios
Table 16: Volkswagen AG: Key Employees
Table 17: Volkswagen AG: Key Employees Continued
Table 18: Renault-Nissan-Mitsubishi Alliance: Key Facts
Table 19: Nigeria Size of Population (million), 2019-23
Table 20: Nigeria Real GDP (Constant 2010 Prices, $ Billion), 2019-23
Table 21: Nigeria GDP (Current Prices, $ Billion), 2019-23
Table 22: Nigeria Inflation, 2019-23
Table 23: Nigeria Consumer Price Index (Absolute), 2019-23
Table 24: Nigeria Exchange Rate, 2018-23

List Of Figures

LIST OF FIGURES

Figure 1: Nigeria new cars market value: $ billion, 2018-23
Figure 2: Nigeria new cars market volume: units, 2018-23
Figure 3: Nigeria new cars market geography segmentation: % share, by value, 2023
Figure 4: Nigeria new cars market value forecast: $ billion, 2023-28
Figure 5: Nigeria new cars market volume forecast: units, 2023-28
Figure 6: Forces driving competition in the new cars market in Nigeria, 2023
Figure 7: Drivers of buyer power in the new cars market in Nigeria, 2023
Figure 8: Drivers of supplier power in the new cars market in Nigeria, 2023
Figure 9: Factors influencing the likelihood of new entrants in the new cars market in Nigeria, 2023
Figure 10: Factors influencing the threat of substitutes in the new cars market in Nigeria, 2023
Figure 11: Drivers of degree of rivalry in the new cars market in Nigeria, 2023
Figure 12: Nigeria new cars market share: % share, by volume, 2023