Market Share of Nigeria Used Car Industry
The market exhibits a high degree of fragmentation and intense competition, characterized by the presence of numerous used car dealerships and online platforms operating throughout Nigeria. Among the prominent industry players are Jiji, Carmart, OList, Autochek Africa, Betacar, BuyCars.ng, Auto Auction Mall, Najiauto, Tokunbocars.ng, CarXus, Cars.ng, and Cheapcars.ng, among others. These players engage in competitive dynamics based on several factors, including used car pricing, online presence, value-added services such as warranties and financing options, commission structures, the volume of listings on their platforms, and the availability of comprehensive information about the performance and condition of used vehicles on their websites.
Various companies within this ecosystem are actively working to strengthen their brand presence by forging strategic partnerships to expand their operations across Nigeria. For instance,
In July 2023, Jiji and Cars45, the leading platforms for used and new car marketplaces in Nigeria, entered into a partnership with Suzuki to broaden their used and new car businesses across the country. This collaboration enables Suzuki to leverage the collective expertise, technology, and resources of Cars45 and Jiji, both renowned leaders in the Nigerian automotive and e-commerce marketplace sectors. The objective is to expedite the growth and advancement of the industry by offering Nigerian customers access to both used and brand-new cars through this dynamic partnership.
Furthermore, in May 2023, Jiji and Cars45 announced an additional partnership, this time with GAC Motor Nigeria, aimed at reshaping the automotive industry landscape. Through this alliance, Nigerian car users gain unprecedented access to both brand-new and used GAC Motor vehicles, representing a significant shift in the options available to them within the Nigerian market.
Nigeria Used Car Market Leaders
Jiji (Cars45)
Carmart
OList
Autochek Africa
Betacar
*Disclaimer: Major Players sorted in no particular order
