Nigeria’s luxury car market to experience steady growth despite rising inflation

  • 📰 PremiumTimesng
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 78%

المملكة العربية السعودية أخبار أخبار

المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

According to Statista, revenue in the Nigerian luxury car market is projected to reach $32 million by the end of 2024.

SPECIAL REPORT: Kaduna ginger farmers count losses as disease ravages crop, ruins livelihoodSPECIAL REPORT: Nigerian football clubs in dilemma amidst economic downturnHard hit by climate change, farmers in Nigeria’s ‘food basket’ face new foesBukar Mbaya: The youth who sacrificed his future, By Ahmed Aminu-Ramatu YusufSPECIAL REPORT: Kaduna ginger farmers count losses as disease ravages crop, ruins livelihoodSPECIAL REPORT: Nigerian football clubs in dilemma amidst economic downturnHard hit by...

Luxury goods consumers prioritise symbolic consumption to showcase their success. Thus, luxury cars have become a statement of achievement, a tangible manifestation of one’s income power, and social standing in a competitive society where appearances matter.In addition to the undiminishing desire for prestige and social distinction, Nigerians also want to balance style, comfort, performance, and budget.

It continues to defy gravity as consumers, undeterred by economic fluctuations, prioritise status, comfort, and performance on the road. Available data shows that Nigerians’ love for luxury automobiles shows no signs of slowing down. It’s no wonder why the car upgrades business is also in its booming season – old model, upgraded body.

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 3. in SA

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين