Sunday 30 October 2016

Recession: Ford stops exportation of 500 vehicles to Nigeria


There are indications that Ford Motor Company has suspended its planned exportation of 500 units of vehicles meant for the Nigerian market owing to the current economic recession. The United States automaker was said to have assembled the vehicles in its South African factory and completed all arrangements to ship them to Nigeria before halting the decision. Prof. Okey Iheduru of the Arizona State University, United States, hinted at a forum in Lagos that Ford had dismantled over 500 units of vehicles meant for the Nigerian market because the Coscharis Group, its local representative, could not accommodate them.The General Manager, Marketing and Corporate Services, Coscharis Group, Mr. Abiona Babarinde, who confirmed this in an emailed response to our correspondent’s enquiry, attributed the development to “forex-related issues.”Read more at http://punchng.com/

No comments:

Post a Comment