Car prices should reflect value of kina
The National, Tuesday 27th March 2012
THE Independent Consumer and Competition Commission (ICCC) should check prices of vehicles as well as other imported goods to ensure that consumers are not ripped off.
Every week the kina is appreciating in value against the US dollar and the Japanese yen.
Traditionally, vehicle dealers and importers use the value of the kina against these two currencies as their main reason for the increase in prices.
Since a year and a half ago, the kina has appreciated 45% against the US dollar and 27% against the yen and yet prices of Japanese imported vehicles have increased!
Vehicle dealers owe us an explanation.
Yes, you can factor in inflation and increased cost of labour but if the low kina was a major variable to price movements for imported goods, then since the kina has appreciated, this needs to be reflected too.
I am sure the price increase also applies to spare parts and other goods.
Can the dealers and the ICCC please explain?
George Bopi
Mt Hagen