NEWSROOM

Evaluating the price changes in second hand vehicle markets, DRC Motors Chairman İlker Dirice said that the serious increase in vehicle prices in 2020 has become permanent in 2021.

*** This release is originally published in Turkish.
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ISTANBUL (TR) - Speaking about the increase in vehicle prices, which started with the 6-month delay of the arrival of new vehicles due to the pandemic, DRC Motors Chairman İlker Dirice said, “The rise in new vehicle prices caused the showrooms selling low segment vehicles in the second hand markets to increase the prices. Unfortunately, this situation caused the price of a 5-year-old middle segment vehicle, which was sold for 50 thousand TL at the beginning of 2020, to reach 100-120 thousand TL.”

“Prices will not decrease in second-hand markets”

Commenting on the expectation of a decrease in prices, Dirice said, “The price increase is not actually based on the pandemic. The rise in foreign currency prices has already caused new vehicles to be sold at almost twice the price. Besides, with the tax updates, prices would have increased already, but Covid-19 accelerated this. If there is no decrease in foreign currency, vehicle prices will now be permanent as they are.”

Luxury vehicle sales continue to rise

Making a statement regarding the demand changes in the luxury segment, Dirice said, “Luxury vehicles were bought and sold too much in 2020. The sales people turned the price increase into an opportunity and sold to high figures with the effect of the exchange rate. In just one month, vehicles that were almost twice the price were sold. While a trade volume is formed, those who believe that prices will not decrease continue to buy vehicles.”