All is set for renowned French automobile brand, Renault to reenter Nigeria’s auto market, following a partnership deal between Groupe Renault and Coscharis Group.
“Precisely on the 18th of July 2019, Renault will make a giant stride back into the Nigeria market, however, this time around, it will be led into the market by Nigeria’s foremost automobile dealership, Coscharis Motors Plc, one of the subsidiaries of the Coscharis Group. Automobile enthusiasts in Nigeria are about to get fired up and live their passion once again,” officials of the company said in a statement.
“To kick start this strong cooperation, which involves both local production and distribution, two of the Renault variants namely Logan and Duster will be assembled in the existing Coscharis Assembly facility in Lagos. Additionally, Renault Kwid and Renault Oroch will be imported as Complete Built Unit (CBU) in due course of the partnership,” officials said.
“With a population of over 200 million, Nigeria is a strategic African country where Groupe Renault will extend its footprint. The Coscharis Group is a recognised player in car (vehicle) assembly and distribution. Thanks to their expertise and our products adapted to the local needs, we will be able to answer immediately to the customers’ demand in Nigeria,” said Fabrice Cambolive, SVP and Chairman of the Africa, Middle-East India region of Groupe Renault.
Groupe Renault is leading the African continent with an 18% market share. In 2018, Groupe Renault sold more than 216 000 vehicles in Africa. The most important countries in sales volume are currently Morocco, Algeria, South Africa, Egypt. The group’s objective is to maintain its leadership within these countries and respond to the demand of the new emerging middle class of the countries like Nigeria.
Commenting on this new business collaboration, the President / CEO of Coscharis Group, Dr. Cosmas Maduka said: “This partnership is to showcase another initiative from our great organization through one of our subsidiaries, Coscharis Motors, to further create value as a key player in the automobile industry in Nigeria; we are glad to celebrate the confidence the renowned brand, Renault reposed in us to represent them in Nigeria. This milestone marks another step in the evolution of our organization towards remaining timeless in its relevance.”
According to Maduka, “This partnership is to further delight the esteemed loyal customers and prospects alike, especially towards providing them a bouquet of more options and value for money. In his words, ‘’We are committed to broadening our dealership scope when such opportunity as this happens, since it is a strategic opportunity to deliver capable, refined and cost-effective vehicle models to our ever loyal customers.”
This new milestone achievement from Coscharis that is expected to reshape the automobile industry in Nigeria will take place at the Coscharis Motors Assembly facility in Awoyaya, along Lekki-Epe Expressway, Ibeju-Lekki, Lagos is expected to be witnessed by dignitaries from all walks of life, including leadership from the three tiers of the government (both at Federal and State levels), members of the diplomatic corps, industry stakeholders and enthusiasts as well as the media.
Coscharis Group established in 1977 is a reputable wholly owned Nigerian conglomerate with interests in various sectors of the economy which include Automobile, Information and communications technology, Logistics, Agriculture, Food & Beverages, Properties, Health amongst others representing globally respected iconic brands in Nigeria. The group has branches across Nigeria and in three West African countries. It presently has automobile sales and service dealerships in all the geo-political zones in Nigeria with 5 outlets in Lagos alone, which is the commercial nerve of the Nigerian economy.
With the intent to support the growth of the Nigerian automotive industry in Nigeria, Coscharis Motors Assembly Ltd (CMAL) established in 2014, commenced assembling of vehicles and rolled out its first batch in November 2015.
Groupe Renault has manufactured cars since 1898. Today it is an international multi-brand group, selling close to 3.9 million vehicles in 134 countries in 2018, with 36 manufacturing sites, 12,700 points of sales and employing more than 180,000 people.
To address the major technological challenges of the future, while continuing to pursue its profitable growth strategy, Groupe Renault is focusing on international expansion. To this end, it is drawing on the synergies of its five brands (Renault, Dacia, Renault Samsung Motors, Alpine and LADA), electric vehicles, and its unique alliance with Nissan and Mitsubishi Motors. With a 100% Renault owned team committed to the Formula 1 World Championship since 2016, the brand is involved in motorsports, a real vector for innovation and awareness.