The difficulties faced by those who want to buy a new car are endless. After the chip and raw material crisis that started during the pandemic period, the increase in prices reached incredible points. Finally, when the exchange rate hike is added to this, citizens have no choice but to turn to second-hand vehicles.
But here, too, things are not progressing as the buyers wanted. Changes in the new market also affect the used car market. While many people do not sell their vehicles with the thought of a price hike, some set the selling price based on future price hikes. Finally, used car prices increased at a record level within 24 hours. Here are the details…
Used car prices increased 100 percent in a year
According to the news of Aysel Yücel from Dünya Newspaper, prices in the second-hand car market increased by an average of 11 percent overnight. The rate of increase in the last 11 months has approached 55 percent. So why are prices rising? According to industry representatives, there are two main reasons for the problems experienced in the automotive market, which was suppressed by the chip crisis.
These are the taxes in our country (SCT system) and the loss of value in our money. Unfortunately, these two reasons support each other. In brand new cars, even a small price update based on the exchange rate can increase the tax bracket of the vehicle from 50 percent to 80 percent, so the increase rate can be very high.
Speaking on the subject, Cardata’s General Manager Hüsamettin Yalçın said that the increase in the exchange rate has increased the price of new cars by 8 percent on average since November 23. In addition, Yalçın stated that there has been a 16 percent price increase in the second-hand car market since November 23. Thus, the price increase in the second hand in the last 1 year has approached 100 percent.
So what do you think about this issue? Do you think this incredible rise in automobile prices will continue? You can share your views with us in the comments section.
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