French car maker Renault and Nigerian conglomerate Coscharis Group have signed an agreement to assemble and distribute Renault vehicles in Nigeria.
Rabat – The Coscharis Group plant will start assembling two models, the Renault Logan and the Renault Duster. Distribution of the cars in Nigeria is set to start in October, Renault announced in a press release on July 18.
The partnership expands the Renault group’s presence in Africa. The car manufacturer currently produces cars in Morocco (402,086 cars were produced in 2018 across the group’s Tangier and Casablanca operations) and Algeria (70,597 cars in 2018).
When it comes to sales, Renault identifies itself as leading the automobile sector in Africa with an 18% market share. The most important countries in sales volume are currently Morocco, Algeria, South Africa, and 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,” explained Renault in the press release on the new Nigerian partnership.
For Fabrice Cambolive, Senior Vice President of the Africa, Middle-East India Pacific region of Groupe Renault, with a population of over 200 million, Nigeria is a “strategic African country.”
“The Coscharis Group is a recognized player in car 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,” he added.
The Renault group sold close to 3.9 million vehicles in 134 countries in 2018, with 36 manufacturing sites, 12,700 points of sales and over 180,000 employees.
The company is “focusing on international expansion,” Renault explains.