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Friday, April 12, 2024

2010 Corolla selling at GHC100,000, GHC75,000 –

A Business Journalist with TV3, Michael Ogbodu, has recently shed light on the challenges faced by young people in Ghana when it comes to buying cars.

He highlighted the exorbitant prices of vehicles in the country, particularly focusing on the case of a 2010 Corolla being sold for GHC75,000, a price that many young individuals starting out in life find difficult to afford.

Ogbodu emphasized that even locally used cars are expensive, with a 2020 registered Corolla also priced at GHC75,000.

He expressed concern over the affordability of cars for young people, questioning how they can save such a significant amount of money to purchase a vehicle.

“Apart from the ones that are imported into the country, the ones that are Ghana used, the prices aren’t (good). 2010 Corolla, that is basically about 14 years old. See how much it cost. A 2020 registered one is going for GH75000.

This is quite concerning. If a young person trying to start out life, at what point do you save that amount of money to be able to buy one. From a consumer side, you ask why are things getting that bad,” he said.

The journalist’s commentary reflects a broader issue in Ghana’s car market, where high import duties, taxes, and the depreciation of the cedi contribute to inflated prices.

These factors make it challenging for young individuals, who often have limited income and financial obligations, to save up for a car.

tigpost.co

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