Car Unfortunately, there is no good news from the market. Serious hikes due to exchange rate increase are at the door exists.
The reflection of the recent exchange rate increase on the automotive sector makes consumers very curious. Stating that the upward course in the exchange rate affects automobile prices between 5 and 8 percent every month as of 2023, he stated that this increase is quite small in the eyes of the consumers. Okan Erdem, General Manager of Aşin Automobile, “If the exchange rate goes up in the upcoming period, we can determine a 3 to 5 percent increase in list prices depending on the brand and model. In the second hand, price increases are faster; We can observe an increase in the band of 10 to 12 percent in 3 months.” said. Erdem also mentioned the second hand credit problem and the new vehicle problem that could not be solved with the price increase. “Unless these two problems are resolved, it is quite difficult to exceed the targets.” made the statement. While the increase in the exchange rate is reflected in the market as the price tag that changes every month, consumers who have the opportunity continue to buy cars, anticipating that the prices will increase even more. For a long time, the main problem has been on the financing side for those who want to own a vehicle. Even if the consumer accepts high interest and low maturity, the fact that banks do not give loans puts the consumer in a difficult situation. Stating that loans are not given even to those with high credit ratings, Okan Erdem underlines that the biggest problem of the sector in the current situation is credit.
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On the other hand, when the upward course of the exchange rate is added to the ongoing problems, it is a matter of curiosity what kind of situations will be encountered. It is foreseen that the year-end sales targets will not be affected as the price increase due to the exchange rate causes panic buying and selling. Explaining whether the prices will affect the year-end target of the sector, Erdem said:Many consumers continue to buy cars despite the fact that the seller is pricing tomorrow’s prices today, as the consumer is worried that the prices will increase.” said. However, Aşin Automobile General Manager stated that the main problem is the supply problem in the new vehicle and the credit problem for the second-hand vehicle.As long as these two problems are not overcome, it is very difficult to achieve a sale above the sales targets. Unless these are exceeded, the car will continue to revolve around investment traders rather than real consumers.” he said.