|Nigerian website to advertise used cars selling|
The measure, per se, could be a good incentive to facilitate the establishing of a local automotive industry. However, the increase of the tariff from 22 % to 70% could just annihilate the current market stocks and a modification addressing the needs of the sellers would be advisable. Income deriving from higher taxation could not balance the plausible collapse of sells.
In the meantime, as written on the magazine African Review, Kia Motors, the South Korean car manufacturer, signed an agreement with its local car distributor Dana Motors to set up a vehicle assembly plant in Nigeria within two years. (Issuu - African Review Magazine, Apr. 2014). What will happen next?