Groupe Renault and Coscharis Group have announced a new collaboration for the 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.
Groupe Renault is said to be leading the African continent with an 18 percent market share. In 2018, Groupe Renault claims to have 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.
Fabrice Cambolive, senior vice-president and chairman of the Africa, Middle-East India Pacific region of Groupe Renault 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.”
Commenting on this new business collaboration, the president and CEO of Coscharis Group, Dr Cosmas Maduka (Pictured above) said, “This partnership is to showcase another initiative from our great organisation 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 organisation towards remaining timeless in its relevance.”
Established in 1977, Coscharis Group is a 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. 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.
Also read: Renault Duster base variant gets zero stars, single-airbag model bags 3 in Global NCAP crash test