business eye header
Home Media Politics Oil&Gas Banking Economy Sports Health Insurance

Cover: Coscharis: Servicing 17million automobile fleet > July, 2015

Coscharis Group is a dominant player in the top class exclusive automobiles market in Nigeria, its Coscharis Motors arm controls the turf. Its show rooms in Lagos, Abuja and Port Harcourt are loaded with the real luxuries on wheels for the nouveau riche in Nigeria. From the Rolls Royce to BMW; Range Rover, Land Rover and Jaguar brands, the automobile company has made a name for itself servicing the riding comfort of the elites. A Rolls Royce, the most expensive car in the stable costs =N=110million and the least expensive from its luxury brand never cost less than =N=10milliom. 

Lately the company has zoomed into the middle market with its Ford, MG, Mini cars and also launched its Chinese trucks Joy Long brand. The MG-3 cost about =N=3million and the company is aggressively foraging into the corporate fleet arena, giving competitors a run for their money with its deep pocket marketing promotion arsenals that include the offer of test rides,  an usual offer in Nigeria, for prospective customers.

Cosmas Maduka, the super shrewd, unassuming billionaire and President of the Cosharis Group says its Ford brand already controls nine percent of the market, which means the company now sells not less than 5, 400 Ford cars a year, going by the calculation that 60, 000 brand new cars and 500, 000 used imported cars referred to as Tokunbo are currently traded in the country per year.  Using its least cost rate, the Coscharis Motors runs a projected minimum of turnover of =N=16billion a year on its Ford brand. By the time its sales in the other brands, particularly in the super luxury categories are factored, the cash figures that set top dogs in the banks scrambling for the company’s account are flashed.

Many Nigerians would easily conclude that the Coscharis Group is making its kill in business from its luxury cars, but Cosmas Maduka, an entrepreneur honored with an honorary doctorate degree in business administration by the University of Nigeria for his astuteness in business says the Coscharis Group makes real cash from its auto spare parts sales.

“Automobiles spare part is our strongest area…Everybody who drives car in Nigeria is our customer. This is because we sell one of the components in every car.” Maduka says with the rare confidence of his candor as he shows Business Eye’s bewildered editors around on his tremendously vast computerised auto spare parts warehouse at Awoyaya in Ajah area of Lagos.

 


Records show Nigeria has 17millon cars on its roads and Maduka says even his competitors’ patronize his outfit for the spares, preferring to import the vehicles and picking the spares available in the country. Available figures indicate the Nigeria auto spare parts market is valued at $6bilion, =N=1.440 trillion, going by today’s exchange rate and the Coscharis Group controls far larger than half the market.

cosmas

The company is into mental and main bearings, MPR rings, TP rings, water pumps, fuel pumps of all sizes. Coscharis Group is also the sole agent for Abro productsin Nigeria. The large inventory include spray paints and paint removers, radiator and cooling system fluids, greases, cleaners and degreasers, engine and fuel additives, lubricants and motor oil, adhesives, gasket capers and sealants, PVC and CPVC cements, sealers and thread lockers, refrigerants, air fresheners, motorcycles tapes and batteries. Business Eye found Coscharis Group is also into the sales of gear boxes, windscreen, complete gasket, top gaskets, bolts and nuts, bushings among several other auto parts.


 

 

       
       
       
  :: Homepage  
  :: Staff Email  
  :: Contact Us  
  :: Advertise  
  :: Subscribe  

©2015 Business Eye Magazine. All Rights Reserved. Designed by Richardson Nigeria