The Chairman of the Vehicle and Access Dealers Union of Ghana (VADUG), Bernard Ntrakwa, has welcomed the 15 percent reduction in vehicle prices announced by the Automobile Dealers Union of Ghana (ADUG), describing the move as a step in the right direction for the automobile industry and consumers across the country.

Speaking on the development, Mr Ntrakwa explained that VADUG had already taken the initiative to reduce vehicle prices prior to this year, following the relative stability of the Ghanaian cedi against major foreign currencies.

According to him, the union did not wait for any directive from authorities before adjusting prices, but acted proactively to reflect improved economic conditions.

He cited the example of the Toyota Corolla, which previously sold for about GH¢80,000 but is now being offered between ¢60,000 and ¢65,000. This significant reduction, he said, demonstrates the union’s commitment to fairness and responsiveness to market trends.

Mr Ntrakwa emphasised that VADUG remains dedicated to operating with transparency and integrity.

He assured the public that the union is committed to working in harmony with Ghanaians, ensuring that vehicle pricing remains fair and reflective of prevailing economic realities.

He further noted that sustained currency stability and constructive collaboration between industry stakeholders would help maintain affordable vehicle prices and boost confidence in Ghana’s automobile market.

The chairman reiterated that VADUG’s priority is to protect the interests of both dealers and consumers while contributing positively to the country’s economic growth.