The Automobile Dealers Union of Ghana (ADUG) has announced an average 15 per cent reduction in vehicle prices following the relative stabilisation of the Ghana cedi against the US dollar and the abolition of the COVID-19 levy.
The Union said the decision fulfils an earlier commitment to pass on gains from exchange rate stability to consumers, rather than retain them as excess profit.
In a statement signed by its National President, Eric Kwaku Boateng, ADUG said its members had acted “in good faith and with a strong sense of national responsibility” by adjusting prices downward across a broad range of vehicles.
According to the Union, vehicle prices in recent months had surged due to exchange rate volatility, high import duties, shipping costs, and global supply chain pressures, placing a heavy burden on consumers.
“ADUG consistently assured the public that once the exchange rate showed signs of stability, vehicle prices would be reviewed downward,” the statement noted.
With recent improvements and relative consistency in the foreign exchange environment, the Union said its members have honoured that pledge by reducing prices on brand new, hybrid, electric, and home-used vehicles.
The Union expressed appreciation to Ghanaians for their patience and trust during the period of economic uncertainty and reaffirmed its commitment to protecting consumer interests while supporting the national economy.
The price adjustment is expected to bring some relief to individuals and businesses seeking to purchase vehicles, particularly as the country continues efforts to stabilise its macroeconomic environment.
BY TIMES REPORTER
Follow Ghanaian Times WhatsApp Channel today. https://whatsapp.com/channel/0029VbAjG7g3gvWajUAEX12Q
Trusted News. Real Stories. Anytime, Anywhere.
Join our WhatsApp Channel now! https://whatsapp.com/channel/0029VbAjG7g3gvWajUAEX12Q
