Thanks to promotion by the government, Innoson Vehicles Manufacturing (IVM) conceived some 8 years ago has put a new brand of cars in the market.
A Nigerian based motor manufacturing industry Innoson vehicles Manufacturing (IVM), has demystified motor vehicle production in Africa. The emerging firm conceived the initiative some 8 years ago. The Nigerian government realized the potentials of the project and decided to promote the efforts of the initiators.
On the occasion of the unveiling of current brands of new vehicles,(IVM G20, IVM G 40, IVM G80, IVM Granite, G Wagon, Cars, Buses and Trucks), The chairman of IVM Company Mr. Innocent Chukwuma breaks the world of automobile as he manufactures the first Nigerian vehicles. “These products would stand the test of time and competition at the motor vehicle market”. The chairman stated. Innoson Vehicles Manufacturing Industry, he added, manufactures durable and affordable brand of new automobile for the African and the world market. These brands of vehicles are specially produced for African consumption considering its state of roads. They will be selling almost at give away prices, not withstanding its high quality comparable to foreign automobile brands in the motor market. Chairman Innocent Chukwuma revealed the purpose of this innovation which is to eradicate or substitute the importation of re-condition vehicles. He disclosed his philosophy of bringing down cost and passing down the profit to the customers. An invitee at the unveiling ceremony qualified this initiative as a wonderful innovation and a pride to the entire African Continent. He pleaded on Africans to promote this venture and copy this brilliant example for the development of the continent. Another invitee explained that, « IVM is going to boost Nigerian’s economy in particular, Africa and the world in general.
Mr. Innocent Chukwuma explained that, an increase in employment opportunities is a major incidence of the initiative. He pleaded that the venture requires favorable taxing policies, subsidies, protection from foreign competitors as government contribution toward its success.
According to the website of the company, advantages of these products range from its rugged performance, suitability for African roads, fuel economy, overheating control, reinforced shock absorbers, availability of spare parts and a three year warranty.
It will be noted that according to IVM current research by Price Water House Coopers (PWC), “the ratio of importation of brand new cars to re-condition in Nigeria is 1:131”.This alarming ratio prompted the Chairman and his management team to conceive this idea, using principles of cost effectiveness, honesty, innovation and employing human resources than automation.
Njogho George Claude Mbando, Cameroon