Increase in Used Vehicle Prices Has Become Permanent

İlker Dirice, Chairman of DRC Motors, said that the serious increase in vehicle prices in 2020 became permanent in 2021.

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 of the Board İlker Dirice said, “The rise in new vehicle prices caused the dealerships selling low-end vehicles in the second-hand markets to increase their prices. Unfortunately, this situation caused the price of a 2020-year-old middle segment vehicle, which was sold for 50 thousand TL at the beginning of 5, 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 only based on the pandemic. The current rise in foreign exchange prices has already caused new cars to be sold at almost twice the price. Besides, with the tax updates, prices were already going to rise, but Covid-19 accelerated it. If there is no decrease in foreign currency, vehicle prices will now be permanent as it is.”

Luxury vehicle sales continue to increase

Making a statement about the demand changes in the luxury segment, Dirice said, “Luxury vehicles were bought and sold a lot in 2020. Sellers turned the price increase into an opportunity and sold to high figures with the effect of the exchange rate. In just one month, the vehicles were sold, which cost twice as much. While there is a serious trade volume in the luxury vehicle market, those who believe that prices will not decrease continue to buy vehicles.