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Auto dealers under the microscope…Unfair pricing, trade practices for key consumer meeting next week
Guyana is getting ready to meet next week with the country’s auto dealers to discuss unfair contract prices and trade practices.
The seminar will be part of a broader push by the Competition and Consumer Affairs Commission (CCAC) to ensure that dealers and other stakeholders comply with the laws.
Auto dealers are being warned against unfair pricing and trade practices.
According to the Commission yesterday, it is imperative that suppliers of new, used and reconditioned vehicles in Guyana, as well auto part dealers attend the seminar next week and participate in discussions regarding these topics.
“Businesses found to be in contravention of the CAA may be imposed with significant fines,” the Commission warned.
CCAC is established by the Competition and Fair Trading Act (CFTA) of 2006 and the Consumer Affairs Act (CAA) of 2011.
The Commission said that its main objectives are to encourage competition, prohibit anti-competitive business conduct, investigate alleged abuses of a dominant position in the market and in trade, and promote consumer welfare in Guyana.
“The CAA significantly alters the way in which consumer protection is viewed in Guyana. It outlines the duties of a supplier and creates a framework in which all transactions between consumers and suppliers must adhere to. The topics to be covered during this seminar are information to consumers, warranties, unfair contract terms and unfair trade practices.”
There have indeed been complaints in the past against especially dealers who used all manner of tactics to repossess vehicles. This was after they would have gotten consumers to agree to contracts which at first glance were deemed vulture-like.
The banks have been lending more in recent years and car loans have been a big money earner. Government said that at least 10,000 vehicles are being registered annually.
The theme for next week’s seminar on the Consumer Affairs Act by the Commission is “How the Consumer Affairs Act will impact the Auto Industry in Guyana” and is to be held at the Regency Hotel on Hadfield Street.
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