By Theodore Opara
Despite the volatile economy and high cost of vehicles, Toyota Nigeria Limited (TNL) has projected to sell 3,000 units this year.
It also reaffirmed the company’s commanding presence in the Nigerian automobile industry, revealing that the TNL currently controls 27% of the market share for new car sales in the country.
Managing Director of Toyota Nigeria Limited (TNL), Mr. Kunle Ade-Ojo, made the disclosure on Wednesday during a press conference held at the second edition of the exclusive Toyota Motor Show in Lekki, Lagos.
He said the projection was based on new products/models being introduced, other sale strategies and the fact that it relied on corporate nor individual customers.
The auto show, which started on Tuesday, May 27, will run till Sunday, June 1, except on Friday, May 30.
He specifically said the TNL sold a little over the 3,000 Toyota vehicles projected for last year.
He expressed the TNL’s commitment to diverse model offerings and customer service, announcing plans to introduce new fuel efficient and hybrid Toyota models into the market.
“Despite a volatile economy marked by inflation and significant naira depreciation, we sold more cars in 2024 than we did in the previous year. This demonstrates the strong customer confidence in our brand,” Ade-Ojo stated.
According to him, Toyota Nigeria’s sales performance in 2024 surpassed expectations, with the company recording an impressive increase in vehicle sales compared to 2023.
The MD revealed that Hilux, Hiace and Rush were the top selling models in 2024.
He also said, “In terms of products introduction, later on this year, we have some models coming up, the Starlet Cross, the SUV version, new model Corolla Cross, new RAV 4 will be coming towards the end of the year or early next year.”
He added that in support of the Federal Government Green Initiative, the company will soon introduce some hybrid/electric vehicles.
He said, “For hybrid/electric introductions, we will be introducing the Urban Cruiser and Corolla Cross, hence, supporting the Federal Government Green initiative. We are going to be introducing more fuel efficient vehicles with hybrid, having extra battery packs to allow your vehicle to go extra mileage.
“Another very key model is the mini Land Cruiser, which will come in later this year or early next year. It is slightly smaller than the RAV 4, but it is a Four Wheel Drive with 2.4 litre engine.”
On after-sales services, Mr. Ade-Ojo said, “We ensure that we continue to take good care of our customers. We have different offerings such as maintenance packages for those who want to pay ahead for a year or two; we also have after-sales service promotions. Our body and paint offerings are open to all brands, not only Toyota.
“We also continue to promote our Toyota Genuine Motor Oil. It has been very successful in Nigeria as it is used not only for Toyota vehicles, but other brands as well”.
He stated that the Toyota Motor Show offered Toyota customers the opportunity to buy some models at discounted rates as well as showcase the after-sales capability of the company.
Different models of Toyota such as Land Cruiser, Hilux, Fortuner, Granvia, Prado among others are on display. Also on display are Toyota genuine parts, Toyota Genuine Motor Oil as well as body and paint shop.
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