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Opinions of Wednesday, 21 October 2015

Columnist: carmudi.com.gh

Ghana tops most affordable places to purchase used cars in Africa

Carmudi examines the average prices of used cars in the region

Carmudi, the easiest way to sell or buy your car online, analyzed hundreds of thousands of used car listings in order to find out how much consumers are spending on used vehicles globally. The study looked at used car models aged 2008 to 2013 to provide insights into price differences across Carmudi countries.

Ghana is the most price-friendly country when it comes to buying a used car in Carmudi regions. The average price of a used car in Ghana is $17,654, making it cheaper than Senegal ($18,923), Congo ($25,093), Cameroon ($29,598) and Rwanda ($34,259).

With the most competitive car prices in the region and significant economic growth, Ghana is experiencing positive developments in car sales. The number of vehicle registrations doubled year on year between 2000 and 2010. During that same period, Ghana’s economy grew at an annual rate of six percent. The current growth in car sales stands at a total of 0.6%, according to BMI Research.

Both Senegal and Ghana are rare examples of political and economic stability, in an otherwise unstable West Africa. This translates into a positive environment for auto commerce. Buyers increase demand as they have extra income or can find lenders for car purchases to locate their dream vehicle. Auto dealers are able to keep prices low for consumers due to predictable import duties. This domestic stability means that in Ghana, despite minor inflation problems, car dealerships will continue to be a major import industry for years to come.

Aside a positive political and economic climate, resulting in competitive car prices, the purchasing experience too can be made better through new methods of online browsing and sales. ’‘With our website and mobile app, we can see ourselves as providing an enhanced purchasing experience for buyers throughout Asia. With us, buyers are able to easily compare prices and find the best deal for them,’ says Kobina Amoo, the managing director of Carmudi Ghana.