The VAT amount, which is reduced from 1 percent to 18 percent in used car purchase and sale transactions, will especially affect corporate companies.
The VAT increase in second-hand car purchases, which entered into force with its publication in the Official Gazette as of March 29, will complicate the process, especially for corporate companies. After the 1 percent level is increased to 18 percent, it is expected that price increases will inevitably be reflected on the labels. The first evaluations started to come from sector representatives related to the process. Commenting on the subject cardata General Manager Hüsamettin Yalçın clearly stated that with the change in the VAT amount, companies that sell corporate second-hand sales and second-hand vehicle trade will enter a difficult process.
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There will be a rapid price increase of close to 3 percent in used car prices.
Hüsamettin Yalçın in his statements; “As of the end of January, there was a decline in used car prices approaching 15 percent. However, with the second month of the year, there was a rise in prices again. The new VAT update will rapidly increase used vehicle prices by 1.5-2.5%. A challenging process awaits companies, especially those engaged in corporate second-hand sales. The fact that the supply problems will continue is another dimension. In addition to the chip crisis, there are serious problems in the supply of many different raw materials. This affects the automotive industry the most. With the effect of a bigger crisis to be experienced, demand will inevitably shift to the second hand. In addition to VAT regulation, production and supply problems in the new vehicle market may also cause second-hand prices to increase.” he said.