How much will car prices go up?

One of the results of the fastest increasing inflation in the history of the Republic was that it turned things that were not normally investment instruments into investment instruments. The automobile is one of them.

When inflation exploded, citizens began to flee from TL. To where? There weren’t many alternatives. Due to the low interest policy followed by the Central Bank, the deposit rates of the banks were well below the inflation rate. The dollar was brought under control at the beginning of 2022, after the initial boom, with currency-protected deposits and massive sales from Central Bank reserves. Gold was also stagnant due to the developments in the world. In these circumstances, savers “goods”He chose to attack. In other words, tangible, visible assets that have weight and volume.

These included housing and automobiles. That’s how the automobile has become an investment vehicle.

to the car “investors” He was right in 2022. Istinye University faculty member Dr. Naim CetinturkAccording to the information given by , there was a 50 to 90 percent increase in new cars last year, depending on the model.

The second hand price increase is even higher than that. Founder of Adalet Automotive Mahmut Sahin he says that prices have increased every month last year, a few points above the price increase for new cars.

In addition to the demand created by savers fleeing inflation, the rapid increase in automobile prices was also due to the shortage in automobile supply due to the global chip crisis. When there were not enough cars in the first hand, the buyers turned to the second hand. This led to an increase in second-hand prices above the inflation rate.

What happens this year? Dr. Naim Çetintürk and Mahmut Şahin think that price increases will continue. The expectation is that second-hand prices will continue to rise a few percentage points above the inflation rate this year, as was the case last year. However, there are some variables that will determine the rate of increase in prices this year.

One of them is the expected recession in Europe, that is, the economic recession. The other is choice.

If the candidate of the six table wins the election, is the SCT reduced? tax revenues
This is not easy as it has a large share in it. But if it does, the prices are of course serious.
rate decreases.

Another development that will slow down the price increase is that after the election, the Central Bank
the new administration to be appointed will increase the policy rate. A high rate hike
It slows down the automobile market along with the general economy.

If the opposition wins the election, the steps on tax and interest
I’m guessing it will go away gradually, not overnight. by the end of the year
It seems inevitable that automobile prices will increase by a few percentage points above inflation.