Volkswagen Sees Nigeria Automobile Sales Recovering on Economy
- Nigerian economy expected to rebound as oil prices increase
- Company to start assembling cars in Rwanda next month
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Volkswagen AG expects a rebound in vehicle sales in Nigeria as the economy in Africa’s biggest oil producer recovers, the head of the company’s South African operations said.
Sales in the West African nation dropped to less than 40 units last year, according to the company. Nigeria was one of several African oil exporters hit hard when crude prices crashed in 2014, but the economy is recovering as oil rebounds.