Prices of motorbike increased from GHS6,500 to GHS13,500; tricycle from GHS6,500 to GHS13,500

Business & Finance Prices of motorbike increased from GHS6,500 to GHS13,500; tricycle from GHS6,500 to GHS13,500
NOV 21, 2022 LISTEN

The prices of motorcycles have increased sharply due to the depreciation of the Ghana cedi which has, in turn, affected dealers and agents in the business losing customers.

The price of an Aposnic private motorbike 200cc was sold last year for GHS6,500.00 and now goes for GHS13,500.00 an increase of GHC7,000.00 within 12-month period; Mr. Ibrahim Abdul-Razak, Agent of Apsonic Motors for Ashaiman-Katamansu enclave told the Communication for Development and Advocacy Consult (CDA Consult) in an interview in Tema.

He said a Tricycle 150cc which was sold at GHS9,500.00 last year has jumped to GHS19,500.00 a difference of GHC10,000.00 within a year; while a tricycle 200cc which was GHS13,500.00 last year is now pegged at GHS24,500.00 a difference of GHC11,000,00.

Mr. Abdul-Razak said the price of a Helmet sold last year at GHS60.00 has now jumped to GHS150.00.

He attributed the increment to the instability of the Ghana cedi against other foreign currencies especially the dollar and other factors which include taxes, and duties.

Mr. Abdul-Razak explained that every month the prices of motorcycles and spare parts are increased, stressing that at the retail market, prices could go up twice or three times in a month.

He said the instability in the market is affecting purchases as customers are unable to buy due to frequent price changes.

Mr. Alhassan Adams, an Okada Rider at Ashaiman also told this reporter in an interview that “three years ago I bought my motorcycle for GHS3,500.00, and now the price of the same bike is GHS15,000.00 a difference of GHC12,500.00 and even a tail-light which was GHS20.00 in July this year is now GHS60.00."

He said many of the youth in the Ashaiman’s main business is Okada which has helped reduce the crime rate in the district but unfortunately due to the high prices of motorcycles and spare parts most of the youth are beginning to drop out of business.

“We fear the possible impact of the economic hardship on security and other related crimes, including prostitution,” he said.

Mr. Adams said, “there is high use of motorcycles and tricycles in Ashaiman and its environs, which serve as alternative means of livelihood and provide easy and fastest means for transportation”.

Dealers of motorcycles, riders and commuters alike have, therefore, appealed to authorities to stabilize the cedi because its impact is affecting their livelihood.

CDA Consult
CDA Consult

News ContributorPage: CDAConsult