Ebubechukwu

2015 Toyota Corolla sourced, shipped and delivered by @nobadcars for N13.5m. I made a total loss of N963k on this car. For all cars, I don't calculate profit/loss until I'm done fixing the cars. This is because if I know for sure that I'm running at a loss. It might bias how much I'm willing to spend on a fix. So I fix everything I need to fix on a car before I do my plus and minus. The reason for the loss is simple. The container incurred a customs hold of $8369. For the uninitaited, customs hold simply means that your container has been held for further inspections. Usually, they do not provide a reason. All they tell you is that it's a random hold which means you cannot plan or hedge for it. It happened to me four times last year and this is the first one this year. A simple google search will tell you that, a sample of containers are selected at random for further inspections to ensure that what has been declared on the Bill Of Laden BOL is what is actually being shipped and the liability for this extra check is to be borne by the importer. Not on customs who initiated the check, or the shipping company that filed the BOL. So split between 4 cars, each car bears an extra unplanned cost of $2092. I knew all of these before we fixed this car but I didn't want to put an actual figure to it until it was delivered because I didn't want to be psychologically biased when it came to spending on repairs. We did everything we needed to do on this car and delivered yesterday. Congratulations to the new owner. The moral of this is, not everything that glitters is gold. Sometimes you take a loss. Roll with the punches. What matters is that we continue to deliver zero bad cars which would help us maintain the reputation we have built. The reputation will come with a premium some day. I envision the days when people will be willing to pay more for a Oloye Mobility car just because they're sure it's quality and they'll rather spend the extra than go gamble somewhere else. Nobadcars #OM🎗️