Africa Automotive March-April digital issue 2023

March-April issue l 2023
GAC Motors Dealer opens G-Style showroom in Abuja
GAC Motors has unveiled
its ultra-modern G-Style
showroom in Abuja, the
nation’s capital. This is in
line with its commitment to the
development of the automobile
industry in Nigeria, Leading SUV
automobile company.
News
The showroom which has several
sections such as a motor exhibition
stand, express maintenance, general
repair and four-wheel alignment is
the second GAC G-Style showroom
in Nigeria after the Lagos debut in
2022.
Among the cars on display is the
brand-new GS8, a premium SUV
created with the intent of meeting
the high luxury requirements of
business leaders on a budget.
With its luxurious cabin space
covered in Alcantara and leather
of the highest quality, geometric
face design, roaring Euro 6 engine
power and diversified luxury interior
GAC Motors dealer opens G-Style Showroom in Abuja |image: courtesy
and exterior upgrade, the GS8 is a
masterpiece in design with a flair of
Chinese elements to meet European
standards.
Chief Diana Chen, Chairman of
GAC Motor in her remarks said the
company believes in long-term
investments, especially in Nigeria,
which is an important market for “our
Africa expansion plans, especially in
West Africa where we have identified
opportunities of developing a
collaborative automotive industry
hub amongst the countries in the
region.”
Gulf Bank inks vehicle financing deal with TransAfrica Motors
partnerships,” said Ms Mohamed.
The lender will charge customers
14.25% interest on the loans on a
reducing balance basis for up to
48 months. The turnaround time is
expected not to exceed 72 hours.
Customers will, however, enjoy a
repayment holiday on a case-bycase
basis. The deal is expected to
boost the auto dealer’s sales amid
an overall slump in the new vehicle
industry.
Image: FAW Kenya
Islamic lender Gulf African Bank
(GAB) has inked a deal with
TransAfrica Motors to finance
customers buying Chinese First
Automotive Works (FAW) trucks
from the motor dealer. Gulf African
Bank head of business, Saada
Mohamed said the agreement
would see customers – Muslim and
non-Muslims – access up to 80%
financing for up to four years.
“At GAB, one of our aims is to ease
the financial load of our existing and
potential customers in the current
business environment through such
Total unit sales in the formal
vehicle sector shrunk 6.3 percent
to 13,352 from 14,250 in the year
to December 2022. The shortage of
semiconductors —used in electronic
devices— has hurt the production of
global automakers. Semiconductors
are used to control electrical
current, making them essential in
battery management and in-car
entertainment, among other systems.
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