Retail Car Firm Mac Believes Business Will Improve

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Car

Country Manager of retail automobile firm, Mac Autos and Spare Parts Ghana, Raman Malhotra has blamed the high cost of brand new cars on high custom charges at the ports.

CarSpeaking to Citi Business News at the introduction of the new Chevrolet Cruze into the Ghanaian market, Mr. Malhotra stated that the increment in taxes have not only affected Ghanaians businesses but the automobile retail industry.
‘‘We are not separate from the other company dealers here in Ghana. Yes the government decided to increase the custom duties. But I’m sure they would have done due diligence, they would have done the ground work before taking this decision”, he said. He disclosed that foreign companies who have their branches here in Ghana have felt the impact of recent taxes introduced by the government. According to him, most companies have no other option than to pass on some of the increase to customers.

“It does increase the price of car and at a certain level we can absorb the cost but we can’t as an organization absorb the entire cost”, he said. He stated that the custom duties have hit an all time high and this has had a toll on market returns. He, however, stated that their Ghanaian branch has found ways to deal with the tax situation and keep their head afloat. –

Source: citibusinessnews.com

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