New wave of price hikes in automotive: No new cars left under 1 million TL
With the new price increases in the automotive sector, the prices of new vehicles have exceeded 1 million TL, and similar increases have been observed in second-hand vehicle prices. Citizens planning to own a vehicle before the summer are being negatively affected by this situation...
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With only a few days left until the holiday, the effects of the operation carried out against Istanbul Metropolitan Municipality Mayor Ekrem İmamoğlu on the markets continue despite the holiday break. The dollar exchange rate, which was hovering around 36 TL, rose to 41 TL in one day due to the impact of the operations, and then fell to 38 TL with the Central Bank's 28 billion dollar intervention. However, economists stated that even this intervention would not stop the rain of price hikes that will fall on citizens and that there will be price hikes on basic consumer goods.
This rain of price hikes first started with fuel and, as of the new month, it has also reflected on the automotive sector. The exchange rate hike that the automotive sector was already expecting has been implemented as of the new month. Just as discounts had started to arrive in new cars along with campaigns, and automotive brands had started organizing campaigns to increase their sales, the new price hikes have once again left citizens disheartened.
NO VEHICLES LEFT UNDER 1 MILLION TL
With the new price hikes between 80-100 thousand TL, there are no longer any new vehicles sold in Turkey for under 1 million TL. The Hyundai i10, which was the cheapest new car last month at 965 thousand TL, rose to 1 million 60 thousand TL with a 100 thousand TL hike. There are no vehicles left under a million lira.
Turkey's cheapest new car, which was sold for 960 thousand TL last month, became 1 million 65 thousand TL this month.
IT WILL ALSO REFLECT ON SECOND-HAND PRICES
It will also reflect on the second-hand market; similar levels of price hikes were also seen in vehicles already being sold for over 1 million TL.
TURKEY'S BEST-SELLING VEHICLE
The cheapest version of the Renault Clio, one of the best-selling vehicles in Turkey, rose from 1 million 260 thousand TL in March to 1 million 334 thousand TL this month. While this price increase in new vehicles is expected to reflect on the second-hand market, the increases have victimized thousands of citizens who dream of owning a vehicle before the summer.