BusinessDay
NigeriaDecides2023

CFAO Motors partners Autochek to offer Nigerians financing for Suzuki cars

CFAO Motors, the sole distributor of Suzuki cars in Nigeria, said it has entered into a new partnership with Autochek, an automotive technology company that makes car ownership more accessible, to give funding to Nigerians desiring to own the Suzuki range of cars.

As part of the partnership, Nigerians can now walk into any CFAO Motors dealership outlets across Nigeria, and get instant financing for any used or brand new Suzuki car of choice.

Aside from going to CFAO dealership outlets, a customer intending to buy the Suzuki brand can also get funding for new and used Suzuki cars via the Autochek website.

This intending car owner simply needs to fill out a form to apply for the loan, and he or she will start receiving offers from various Autochek-approved financing partners including banks and microfinance banks. Once an offer has been accepted through an online application, the vehicle will be delivered in five to seven days.

Speaking at the unveiling of the new partnership in Lagos on Wednesday, Aissatou Diouf, general manager of Suzuki by CFAO, said that financing has become critical to enabling the Nigerian automotive industry to reach its full potential.

According to Diouf, the demand for cars has always been there but access to finance had often been the stumbling block that hinders intending car owners from having the car of choice.

“We believe that Autochek’s market-leading financing product and the cars we are introducing to the market will be able to catalyse the automotive industry in Nigeria and make car ownership more accessible and affordable,” Diouf said.

Diouf further said that CFAO has a vast network in Lagos, Enugu, and other geopolitical zones for aftersale services to customers which also goes to show the availability of spare parts.

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According to Diouf, CFAO Motors has been creating the largest network of aftersale services in Nigeria through training and also giving of manufacturer’s warranty to third-party auto workshops to carry out maintenance of Suzuki cars at the convenience of the customer.

Abayomi Adekola, head of aftersales services, CFAO Motors Nigeria, who assured intending buyers of the Suzuki brand of cars that parts of Suzuki cars are readily accessible and affordable, said that Nigerian buyers do not need to worry themselves with tokunbo parts because it is cheaper to buy new parts.

He said the cost of maintenance for Suzuki cars is also cheap, promising that intending buyer would enjoy using Suzuki cars which is also a Japanese brand.

Mayokun Fadeyibi, senior vice president of West Africa at Autochek, said that cars remain an essential part of everyday life for most Nigerians.

According to her, Autochek has built a platform where banks offer customers a loan to buy the Suzuki brands of cars.

“At Autochek, we are bringing all the key stakeholders in the automotive value chain together – dealers, manufacturers, financial institutions, and consumers – to drive shared value and alleviate various transport challenges that impact Nigerians,” she explained.

She added that it was based that the company is partnering with CFAO to make auto financing more accessible and drive the automotive ecosystem’s growth for everyone’s benefit.

Since its re-introduction to the Nigerian market in 2019, Suzuki has been at the forefront of introducing cutting-edge technology and market-leading innovation to the Nigerian automotive value chain.

From sales to after-sales, Suzuki by CFAO has been committed to transforming the Nigerian automotive experience by embedding technology solutions into every stage of the automotive lifecycle. This partnership with Autochek will build on this commitment and will support the delivery of further improvements to the automotive value proposition for Nigerian drivers.

On their part, Autochek is building the financial infrastructure to drive the penetration of auto financing across Africa, powered by a data analytics engine that makes it easier for financial institutions to offer credit to consumers.

It has existing operations across North, West, and East Africa including Nigeria, Ghana, Morocco, Côte d’Ivoire, Senegal, Kenya, Benin, Togo, and Uganda, a partner-led retail footprint in over 1,500 dealer and workshop locations, and more than 70 banking partners including Access Bank, Ecobank, UBA, Bank of Africa and NCBA Bank.

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