The Automobile Dealers Union of Ghana (ADUG) has announced a substantial price reduction across all vehicle categories, citing an improved macroeconomic environment.
Effective immediately, prices on new, used, and electrified vehicles will drop by an average of 15%.
The Union attributes this adjustment to the recent stabilisation of the Ghana Cedi against the US Dollar, coupled with the removal of the COVID-19 levy.
In an official statement released yesterday, ADUG National President Eric Kwaku Boateng stated that the reduction fulfils a pledge made to consumers during periods of currency fluctuation.
The Union had previously committed to passing on the benefits of exchange rate stability to customers rather than retaining excess margins.
“The decision reflects our commitment to national responsibility and fair pricing,” Boateng noted.
“Having observed a sustained improvement in the exchange rate environment, our members are acting in good faith to ease the financial burden on vehicle buyers.”
The price review addresses a market that has recently been strained by a confluence of factors, including exchange rate volatility, elevated import duties, rising shipping and logistics costs, and persistent global supply chain disruptions.
The 15% reduction is comprehensive, affecting the entire automotive market to ensure broad-based consumer relief.
The adjustment applies to brand-new vehicles, Hybrid and electric vehicles (EVs) and home-used (second-hand) vehicles.
ADUG reaffirmed its commitment to striking a balance between the interests of consumers and the stability of the national economy, expressing gratitude to the public for their patience during the period of market volatility.
