Renault recently announced that they will be returning to the Nigerian market. This time the automobile brand plans to partner with Nigerian automobile brand Coscharis Groups. Coscharis Motors Plc, a subsidiary of the group will be leading Renault into the Nigerian market. Renault is said to return to the Nigerian market on the 18th of July 2019.
About Groupe Renault
They are a French multinational automobile manufacturer. It was established in 1899 and they produce a range of cars and vans. They are leading in the African continent with an 18% market share. In 2018, they sold more than 216 000 vehicles in Africa. The most important countries in sales volume are currently Morocco, Algeria, South Africa, and Egypt. Their objective is to maintain its leadership within these countries and respond to the demand of the newly emerging middle class of countries like Nigeria.
Renault Re-enters Nigeria Starts New Partnership with Coscharis Group
The partnership between Renault and Coscharis Group will involve both local production and distribution. The French automobile brand plans to have its Logan and Duster assembled in the existing Coscharis Assembly facility in Lagos. Renault’s Kwid and Renault Oroch will be imported as Complete Built Unit (CBU) in due course of the partnership. This is a huge milestone and achievement of Nigeria’s foremost automobile brand Coscharis. It is expected to reshape the automobile industry in Nigeria.
Renault Speaks on Re-entering the Nigerian Market and Its Partnership with Coscharis Group
The brand’s SVP and Chairman of Africa, Middle-East India Fabrice Cambolive spoke about the partnership and entering the Nigerian Market. He stated that with a population of over 200 million, Nigeria is a strategic African country where they will extend its footprint. Cambolive also spoke about its partnership with the Nigerian automobile brand. He stated that they are a recognized player in car (vehicle) assembly and distribution. He talked about how their expertise and their products which are adapted to the local needs will answer customer demands.
Coscharis Group Speaks on the New Partnership with Renault
The President / CEO of Coscharis Group, Dr Cosmas Maduka also spoke about the partnership. He talked about how the partnership showcases further about how they can further create value as a key player in the automobile industry in Nigeria. Maduka celebrated the French brand’s confidence in allowing them to represent them in Nigeria. He stated that this milestone marks another step in the evolution of their organization towards remaining timeless in its relevance. He mentioned how the partnership allows them to offer consumers bouquet of more options and value for money.