Boston, MA -- (SBWIRE) -- 08/29/2013 -- BMI sees considerable strengthening in vehicle production, vehicle imports and car ownership in Nigeria's auto industry over the next few years. One of Africa's most powerful economies is expected to continue performing well in H2 2013, with growth potentially breaking 7% amid controlled inflation and a stable currency. A strong economy is also likely to be a boon for auto loans in the country as Nigeria's banks expand amid stability, providing a growing middle class with greater access to credit.

A number of carmakers therefore have their eye on Nigeria's auto market. In July 2013 Japan's secondbiggest car manufacturer, Nissan, listed Nigeria as one of the key markets it was targeting for the expansion of its small passenger vehicle product lines. The company has set a target to double vehicle sales in Sub- Saharan Africa to 220,000 units by 2016. The Micra, Almera and Sentra cars are expected be added to the product range, which includes sport-utility vehicles, commercial vans and 'bakkies'. Nigeria is one of several markets being targeted, which it is hoped will help to offset a continued slow-down in sales in South Africa. Meanwhile, in June 2013 Indian motorcycle producer Mahindra2Wheelers was reported to be looking to import to a number of Sub-Saharan African markets from 2013.

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