REVEALED: Prices of best-selling cars in Nigeria

Following months of foreign exchange volatility and tightening import regulations, buyers recalibrated their priorities.

Affordability, fuel efficiency, and reliability took precedence over badge prestige. Even among wealthier customers, value retention and cost of ownership began to influence decisions in ways rarely seen before.

According to the latest foreign trade report from the National Bureau of Statistics (NBS), the total value of passenger car imports dropped by 14.3% to N1.26 trillion, down from N1.47 trillion in 2023.

The decline came on the heels of a dramatic spike in 2023, when vehicle importation had more than doubled compared to 2022. By 2024, the market had cooled, and both consumers and importers recalibrated.

In this article, we take a look at the best-selling vehicles of 2024, offering a snapshot of how middle- and upper-income Nigerians adapted to economic pressures, what corporate buyers prioritized, and why certain models consistently moved off lots while others sat unsold.

Below is the list of models that dominated the Nigerian market and the average price tags they carried

(2012-2018) Toyota Camry LE/XLE/SE

Price: N16million- N30 million

(2013-15) Mercedes-Benz ML350

Price: N25m to N32m

(2015-17) Toyota RAV4 Limited/XLE

Price: N25m to N35m

(⁠2016-17) Mercedes-Benz GLE350

Price: N42m

Lexus Gx460 2011 model to 2015 model

Price: N31million to N43million

2015-18 Toyota Highlander Limited/XLE

Price: N40m to N50m

Toyota Hilux

Price: Starts at N85 million

Toyota Land Cruiser 2024

Price; N85million –N90 million

Toyota Prado

Price: N125 million to N150 million