Automobile Entrepreneur Urges Engineers to Embrace E-Commerce
The Guest Speaker at a recent Town and Gown Seminar of the Department of Mechanical Engineering, Covenant University, has urged Faculty and students of engineering in the University to partner with interested firms and investors for the development of e-Commerce.
Engr. Mobolaji Godwin Abidoye gave the advice while delivering a lecture titled ‘The Open Market of Automobile Engineering: Where Business Meets Technology’.
Engr. Abidoye, a 2012 Graduate of Mechanical Engineering from Covenant, who defined Automobile Engineering as a field concerned with vehicle design, development, production, and safety testing, said that e-Commerce was lacking in the Nigerian Auto-Industry. He believed e-Commerce could be harnessed to the tune of billions of dollars with proper research and funding e.g Jiji, Jumia, Cars45 etc.
He said the automotive industry comprised a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. In the United States, the e-Commerce market increased by 121% between 2012 and 2019 through platforms like Amazon, Autozone, Motor speedway, Jeep people, and Indianapolis amongst others, said the Guest Speaker.
According to the Managing Director of Spatial Endeavours Limited, the open market of automobile consisted of the global trade (Manufacture, sales and aftersales) of vehicles for both commercial and private uses. He said that he excelled in the e-Commerce aspect of the automobile business because of the knowledge he gained as a student of the Entrepreneurial Development Studies (EDS) while at Covenant. He told the audience that there was a market they could key into to distinguish themselves.
While giving an insight into the Nigerian automotive market, Engr. Abidoye said that only 2% of the population could afford new vehicles, while corporate bodies accounted for 70% of the new vehicles sold. He proposed that as a way forward, there should be improved road condition, which would, in turn, lower vehicle depreciation currently capped at 4-5 years. He also suggested a partnership between vehicle dealers and financial institutions, and more government agencies to patronize locally-produced vehicles.
The Guest Speaker asserted that the automobile industry was a vast and rapidly advancing industry in the world generally, and car care businesses would continue to grow at a faster rate than the overall economy due to the increasing number of vehicles. He highlighted vehicle dealership, sales of spare parts, car wash shops, service shops, and repair workshops as some of the automobile businesses that could be set up by mechanical engineers.
Abidoye said that the government had introduced the Finance Act 2020 as a measure to ease the cost of transportation across the country and had also passed the bill for the implementation of the reduction of import duty on most vehicles.
The Town and Gown Seminar also had in attendance the Head of Department, Mechanical Engineering, Professor Joshua Okeniyi, other Professors, faculty, staff and students of the Department.
Engr. Mobolaji Abidoye, making his presentation at the Department of Mechanical Engineering Town and Gown Seminar.