Renault and Coscharis Group enter partnership to produce and distribute vehicles in Nigeria
Groupe Renault and Coscharis Group have entered into an agreement that includes production and distribution of vehicles in Nigeria.
Renault Logan and Renault Duster will be assembled in the existing Coscharis Assembly facility in Lagos starting October 2019. Renault Kwid and Renault Oroch will be imported from Brazil. These four vehicles will be distributed through the Coscharis Motors sales network throughout Nigeria.
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 recognized player in car assembly and distribution.
The partnership is betting on the expertise of Coscharis Group and the adaptability of Renault products to local needs to answer to the customers’ demand in Nigeria, according to Fabrice Cambolive, SVP and Chairman of the Africa, Middle-East India Pacific region of Groupe Renault.
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.
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.
“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. 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,” Maduka added.