Ford halts exportation of 500 automobiles to Nigeria due to Recession

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There are signs that Ford Motor has suspended its scheduled exportation of 500 units of automobiles for the Nigerian market owing to the present financial recession.

The United States car manufacturer was stated to have assembled the automobiles in its South African factory and finished all plans to deliver them to Nigeria prior to halting the decision.

Professor Okey Iheduru of the Arizona State University, United States, hinted in Lagos that Ford had dismantled more than 500 units of automobiles, meant for the Nigerian market due to the Coscharis Group, its regional representative, might not accommodate them.

The General Manager, Marketing and Corporate Services, Coscharis Group, Mr. Abiona Babarinde, who verified this in an emailed response to a reporter’s query, associated the developed to “forex-related” concerns.

He stated the cars were “to be imported as SKD (semi-knocked down) packages for (automobile) assembly however got stuck in South Africa because of sluggish sale of exactly what we presently have in stock in Nigeria.”

Ford just recently stopped its company relationship with one of its 2 partners in Nigeria, RT Briscoe, leaving just Coscharis Motors as its sole representative in the nation.

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