Nigerians and American Car dealers, have set their sightson on Nigeria as dump ground for thousands of American junk cars taken off the road from New York to Seatle under the administratons ” cash for clunkers” programme.
Smart businessmen in Nigeria scramble to purchase them at rock bottom prices across Yankee country from dealers who are supposed to remove destory (burn or melt) once a buyer exchanges them for newer fuel efficient models.
But some dealers have conived with Nigerian importers to send the Vehicles to the Nigeria, Africa’s largest market, for sale as fairly used cars, or Tokunbo (another name for fairly used car) Nigeria’s largest market, from where they get freighted to other states in Nigeria.
The News was uncovered in Ohio, Maryland, Virgina and New York on 12th August 2009, where the cars are sold to Nigerian buyers for a $2,000 each (28,000), then resold in Lagos and other state locally for as much as $10, 000 (N1.4 Million).
Most dealers in the American states falsify the car papers after receving a rebate from the government and sell to make double profit off the scheme.
Some of the vehicles are in good condition. Bust most are bad because of pollution they emit into US environment, one of the major reasons US president, Barack Obama administraion made the programme part of its economic stimulus package.
Car buyers are given $4,500 rebate on any new purchase and replacement of older ones, including dealer incentives that have both lowered the cost of cars and produced a boom for dealers.