Car Prices Fell For The First Time Since The Pandemic

Car prices fell for the first time since the pandemic. The change in the SCT base made the decline inevitable.

According to the data released by the Turkish Statistics Institute (TurkStat), automobile prices fell for the first time in 1.5 years in August after the change in the excise tax bases. While the price of gasoline cars decreased by 3.4 percent in August, the price of diesel cars decreased by 1.72 percent. Automobile sales, which declined sharply in July, remained flat in August despite the change in the excise tax base. According to the Automotive Distributors Association data, the automobile and light commercial vehicle market in August decreased by 5 percent compared to August 2020 and reached 58 thousand 454. Murat Berkel, General Manager of Hyundai Assan, said that due to the new regulation in the excise tax base, the supply did not meet the demand, with the vehicles in the 80 percent segment entering the 50 percent segment. Speaking to Bloomberg HT, Berkel said, "Although the excise tax base was changed in August, manufacturers are experiencing serious difficulties. In parallel, after this change, models in some ABC SUV segments fell to a sub-traction of 50 percent. The customer suddenly had a demand. However, since we do not have these tools, we cannot plan for the sudden change."