Nigeria's Car Market Shifts to High-End SUVs
According to Esu Bassey-Duke, Managing Director and CEO of Stock Motorcars Limited, the demand for high-end SUVs is on the rise in Nigeria.
This shift is driven by growing interest in newer models and increasing import costs for older vehicles, Bassey-Duke revealed in an interview with Nairametrics.
Mid-size to large SUVs are more in demand compared to their sedan counterparts.
- Mercedes GLE
- Toyota Highlander
- Toyota RAV4
- Lexus LX
- Hyundai Tucson
- Mazda SUVs
These models, particularly those from 2014 and newer, are mainly purchased by middle- and upper-income buyers, Bassey-Duke noted.
Author's summary: Nigeria's car market favors high-end SUVs due to rising import costs.