By Sarah Baafi
Car buyers across Ghana can expect some relief, as the Automobile Dealers Union of Ghana (ADUG) has directed its members to reduce vehicle prices by an average of 15 per cent.
The decision follows recent improvements in the foreign exchange market, particularly the relative stability of the Ghana cedi against the US dollar, as well as the government’s removal of the COVID-19 levy, which had added to import-related costs.
Announcing the development in Accra, ADUG said the price reduction fulfils an earlier assurance given to the public that vehicle prices would be reviewed downward once economic conditions improved.
According to the union, fluctuations in the exchange rate over recent months significantly drove up vehicle prices, alongside high import duties, shipping costs, and disruptions in global supply chains. These pressures, it noted, made price reductions difficult despite public concerns.
“With the current stability in the exchange rate environment, our members have taken a responsible decision to pass on the benefits to consumers,” the union stated.
The price cuts apply to a broad range of vehicles on the Ghanaian market, including brand-new cars, home-used vehicles, as well as hybrid and electric models, offering relief to both individual buyers and businesses that rely on vehicle imports.
ADUG described the move as an act of good faith and national responsibility, stressing that the organised automobile trade remains committed to fair pricing and consumer protection.
More Stories Here
Source:
www.gbcghanaonline.com