TURKSTAT announced that automobile prices fell for the first time in the last 1.5 years, with the data it announced. According to TUIK’s data, gasoline vehicles became cheaper by 3.4 percent and diesel vehicles by 1.72 percent. As you can imagine, the price decrease due to the Special Consumption Tax regulation did not reflect on the market activity.
Announcing inflation data for August in the past hours, TÜİKA new statistic has come from. According to the reviews of the institution, automobile prices fell for the first time in 1.5 years. The decrease caused by the change in the excise tax bases has increased to gasoline cars. 3.4 percentand diesel cars 1.72 percent rate was reflected.
A decree published in the Official Gazette about a month ago, Excise tax bases percentiles rearrangedincreased the upper limit of rates. In this way, a decrease in the prices of new cars was ensured. This regulation was directly reflected in the data of TURKSTAT. Although the consumer does not see this much, statistically, automobile prices, in August It is indeed in decline.
Although prices fell, there was no activity in the market.
During the SCT regulation, we prepared a content for you and some new cars from prices we talked about. For example, while a Hyundai i10 was sold for 162 thousand TL before the regulation, it decreased to 156 thousand TL after the regulation. However, this did not affect car sales at all. Automotive Distributors Association (ODD) declared number of vehicle sales in august, 5 percent lower than the same period last year.
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The main reason for the lack of market activity despite the falling prices is that the prices too high even now. We can easily see the proof of this in the chart of Bloomberg, which we shared above. Especially the price increases at the beginning of 2021 made the citizens unable to buy a vehicle. For example; 156 thousand TLIn the eyes of the citizens, it is a very high amount for the Hyundai i10.