Few years After CFAO unveils Suzuki’s new Micro SUV “Suzuki S-Presso” For N5.5m, the Price skyrock to N9.9m

The automotive industry in Nigeria has faced significant challenges in recent years, particularly with respect to the cost of importation, where importation is more expensive than the purchase price. The high cost of importing vehicles into the country has made it difficult for many people to afford a car and has also led to a surge in the price of locally assembled vehicles

In 2019, CFAO Motors Nigeria, the authorised distributor of Suzuki vehicles in Nigeria, unveiled a new micro SUV called Suzuki S-Presso, with a starting price of N5.5 million.

“Amidst the challenges caused by the pandemic, we have continued to improve our value proposition to our customers with the expansion of our after-sales service network across the country, while bringing more Nigerian banks on board as partners for our vehicle financing scheme.

“We have just unveiled the S-Presso model, the first micro SUV in Nigeria which will be sold for as low as N5.5m. Indeed, Suzuki is quickly becoming Naija’s ‘way of life’.”

The launch of the S-Presso was met with enthusiasm from consumers who were attracted to the vehicle’s compact size, fuel efficiency, and affordability.

However, just a few years after its launch, the price of the S-Presso has skyrocketed to N9.9 million, a nearly 80% increase. This dramatic price increase has left many potential buyers shocked and disappointed, as they are now unable to afford the vehicle they were once interested in.

There are several possible factors that have contributed to the steep rise in the price of this Suzuki S-Presso. One major factor is the devaluation of the Nigerian naira, which has led to an increase in the cost of importing vehicles into the country. Additionally, the global shortage of semiconductor chips has led to an increase in the cost of production for automakers around the world, including Suzuki.

Another factor that has contributed to the price increase is the high demand for small, affordable SUVs in Nigeria. As more consumers have become interested in vehicles like the S-Presso, dealerships and distributors have been able to raise prices in response to the increased demand.

While the price increase may be frustrating for people who were hoping to purchase a Suzuki S-Presso via CFAO or Moove auto finance, it is important to note that the price of vehicles in Nigeria is subject to a wide range of factors, many of which are beyond the control of individual automakers or distributors.

About Suzuki S-Presso in Nigeria

The Suzuki S-Presso is a small hatchback vehicle that was first introduced in 2019. It is available in a variety of trims and is powered by a 1.0-litre three-cylinder engine. The S-Presso is known for its compact size and fuel efficiency, making it a good choice for city driving or as a budget-friendly first car. It also has a spacious interior for its size and comes with a variety of standard features such as air conditioning, power windows, and a multi-function steering wheel.

Suzuki S-Presso models

The Suzuki S-Presso is available in a variety of models or trims. The specific models and features available may vary depending on the country or region where the S-Presso is sold. Here are some examples of models that have been offered for the Suzuki S-Presso:

• Suzuki S-Presso Std: This is the base model of the S-Presso, which comes with features such as air conditioning, power windows, and a multi-function steering wheel.
• Suzuki S-Presso Lxi: This model adds features such as power steering, central locking, and body-coloured bumpers.
• Suzuki S-Presso Vxi: This model adds features such as a tachometer, a digital clock, and front power outlets.
• Suzuki S-Presso Plus: This model adds additional features such as a rear spoiler, alloy wheels, and fog lamps.

How To Get Suzuki S-Presso and Pay small Auto Finance

Drivers can sign up to register their interest through Moove Africa’s website and before accessing the vehicles, all drivers must have their details assessed and verified by Moove as well as undergo training before vehicles are assigned.

If you’re interested in getting a Suzuki S-Presso on loan with Moove Africa, here are the general steps you can follow:

How to Apply for a loan via there UberGo on Moove Africa

To apply for a loan via Moove Africa’s UberGo program, follow these steps:

1. Visit the Moove Africa website: Go to the Moove Africa website and navigate to the Drive with us.
2. Select Vehicle: After clicking on the “Drive with us” list of available cars for car financing will display, select the vehicle that interests you by clicking the button (View Details) the details of the vehicle will be displayed, take your time to go through it and scroll down to the bottom and click on APPLY TO DRIVE to fill out the application form. You’ll need to provide personal information such as your name, phone number, email address, and home address. You’ll also need to provide information about your income and employment status.
3. Wait for approval: Moove Africa will review your application and let you know if you’re approved for a loan. If you’re approved, they’ll provide you with a loan agreement that outlines the terms of the loan, including the interest rate, monthly payments, and repayment period.
4. Make monthly payments: You’ll need to make monthly payments to Moove Africa to repay the loan. The amount of your payment will depend on the interest rate, repayment period, and amount borrowed.
5. Drive with Uber: Once you have your car, you can start driving with Uber to earn money and pay off your loan. Moove Africa also offers additional support and services to help you succeed as a ride-hailing driver.

How To Get Suzuki S-Presso from CFAO Motors on a Loan

CFAO Motors is a subsidiary of CFAO Group, a leading industrial company with a presence in 36 African countries. In Nigeria, CFAO Motors is one of the largest distributors of cars, trucks, and construction equipment, with a network of dealerships across the country.

CFAO Motors in Nigeria offers a wide range of vehicles from well-known brands such as Toyota, Mitsubishi, and Suzuki. They also offer financing options for customers who want to buy a car on loan.

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In addition to selling cars and financing, CFAO Motors in Nigeria also provides after-sales services such as maintenance and repairs. They have a team of trained technicians who can service all makes and models of cars, and they use genuine parts to ensure the best performance and longevity of the vehicles they sell.

If you’re interested in buying a Suzuki S-Presso from CFAO Motors on loan, here are the general steps you can follow:

1. Research financing options: CFAO Motors may offer financing options for their vehicles. Check with them to see if they have any loan options available.
2. Get pre-approved: Before you start shopping for a car, you may want to get pre-approved for a loan. This will give you an idea of how much money you can borrow and what your interest rate will be.
3. Choose your car: Once you know how much you can borrow, start shopping for your Suzuki S-Presso at CFAO Motors. You can find the dealership nearest to you on their website.
4. Negotiate the price: Don’t be afraid to negotiate the price of the car. The dealership may be willing to lower the price if you can provide a down payment or agree to a higher interest rate.
5. Apply for a loan: If CFAO Motors offers to finance, apply for a loan with them. You’ll need to provide information about your income and credit score, as well as the car you want to buy.
6. Get approved: If you’re approved for a loan, CFAO Motors will provide you with a loan agreement that outlines the terms of the loan, including the interest rate, monthly payments, and repayment period.
7. Make monthly payments: You’ll need to make monthly payments to CFAO Motors to repay the loan. The amount of your payment will depend on the interest rate, repayment period, and amount borrowed.
8. Pay off the loan: Once you’ve made all your payments, you’ll own the car outright.