By Francis Kobena Tandoh
The Automobile Dealers Union of Ghana (ADUG) has cut down the prices of vehicles across the country by an average of 15 percent, according to a statement on Sunday.
The statement, signed by Eric Kwaku Boateng, National President of the ADUG, said the reduction has been occasioned by the relative stability of the country’s currency, the cedi, in recent times.
According to the statement, the decision reflects the Union’s long-standing promise to the people that any meaningful stability of the exchange rate would be reflected in a corresponding pricing.
“The Automobile Dealers Union of Ghana wishes to formally inform the general public that, in line with our earlier commitment, members of the Union have reduced vehicle prices by an average of 15 percent following the relative stabilization of the Ghana cedi against the US dollar, as well as the abolition of the COVID-19 levy,” read the statement.
Among the wide range of vehicles that will see price cuts, as announced by the Union, are hybrid, electric, and home-used vehicles.
Over the past months, the cost of vehicles in Ghana has been impacted by exchange rate volatility, high import duties, shipping costs, and global supply chain pressures.
With the relative stability of the exchange rate, the Union says it has acted in good faith with the people and with a strong sense of national responsibility with the price cut.
The Union expressed its gratitude to Ghanaians for their patience, trust, and confidence in the organized automobile trade and expressed its resolve to always act in the best interest of the consuming public and on the national economy. Enditem
Source: Ghana Eye Report
Find the statement from the Automobile Dealers Union of Ghana (ADUG) below;
