Ghana: Rising fuel prices affect the sale of large displacement cars – Car dealers

The increase in the cost of fuel at the pump negatively affects the sale of large displacement cars.

This is according to the Ghana Motor Dealers Union.

After starting the year at around GHC 6.65, petrol and diesel per liter now sell for GHC 8.29 at some of the major petroleum marketing companies.

This represents an increase of approximately 25% in the price of fuel at the pump over the past nine weeks.

This led to unrest from multiple stakeholders as well as a 15% increase in general transmission fares.

Speaking to Citi Business News on the widespread impact of rising fuel prices, Ghana Automobile Dealers Union Secretary General Clifford Ansu noted that used car dealerships were also suffering the impact of increases.

“Rising fuel prices like the one we are experiencing affect all businesses. When some people come to our garages to buy cars, they look at the engine capacity, when the capacity is high, they worry about how to drive them. ‘fuel the vehicle. Currently, a gallon of gasoline is about GHC 37 and that is of concern to some. This is leading some to opt for cars with smaller displacements.’

“Most garages have a mix of cars they sell, ranging from 0.8 displacement cars to 4.7 and 5.7 displacement cars. And the sale of these is affected,” he said. -he adds.

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