Prince Opuni, a driver, and Isaac Gyasi, unemployed, are facing charges of conspiracy and stealing, and have both pleaded not guilty to the charges.
They were ordered to make their next court appearance on Friday, May 2.
Mohammed Abubakari, a car dealer, standing trial with them, was however,granted a 50,000-cedi-bail with a surety to be justified.
Police Inspector Gulliver Tenkorang said the crime was committed on April 17.
Opuni, Gyasi and one other person on the run Akwasi Baah, had engaged the services of the driver of the stolen car, Kwame Anarfo, to convey some goods from Pankrono Estates to the Asafo lorry terminal.
The prosecution said halfway through the journey, they drew a knife and ordered Anarfo to stop, pulled him out of the car and sped off.
They later replaced the number plate, fixed road worthiness and income tax stickers on the vehicle and took it to Abubakari, who is alleged to have previously bought cars from them.
This time round, the said buyer did not show interest, and the two and their fugitive colleague approached a scrap dealer and offered it for sale at a price of GH1,200.
The man became suspicious and caused their arrest as Baah managed to slip through.
The prosecution said the two in their caution statement, confessed their involvement in the theft of three other cars, and claimed selling them to Abubakari.