M a r k e t N e w s

Volkswagen Expect Higher Sales Volume in Rwanda than Nigeria

Posted on : Monday , 4th June 2018

Volkswagen was founded on the 28th of May 1937 by the German Labour Front. Fondly known as VW, it
is the flagship brand of the Volkswagen Group one of the biggest automobile firms by sales in the world. Revenues for the 2017 financial year hit a record high of $264 billion.
 
Volkswagen’s Rwandan factory has set a target of at least 2,000 cars a year in the beginning but eyeing 10,000 cars. Polo, Passat and Terramont will be manufactured at this plant from June 2018. There long term plan is to expand their business to Ethiopia, Ghana and Tanzania.
 
Volkswagen’s Nigerian market saw its all time low in the last 2 years due to recession and the costs of brand new cars experienced a huge leap. So, they’re targeting to assemble 100 cars this year for Nigeria as last year they could just sell 40 cars.
 
Real GDP growth for Rwanda is put at 8.2% in 2018 compared to Nigeria’s forecast growth of 2.1%. Real GDP growth is GDP adjusted for inflation.
 
Volkswagen was expected to be inclined towards Nigerian market because of its large population as compared to Rwanda. But Rwanda is doing much better than Nigeria in terms of economy. 

 

Source : www
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