Turkish automotive market sees major price discounts

A contraction in the automotive market has triggered intense price competition among manufacturers in Turkey. To clear existing stock, companies are offering significant discounts alongside financing options, leading to substantial gaps between official list prices and dealer prices. For instance, the Volkswagen T-Cross has seen a price reduction of nearly 944,000 lira between its list and dealer pricing.

This market shift is also impacting the second-hand vehicle sector. Due to geopolitical developments, financial conditions, and competitive new car campaigns, the gap between advertised listing prices and actual sale prices has increased from 9.6% to 14.6% over the past year, according to data from VavaCars.

Consumer preferences are also shifting toward SUVs. The market share for SUVs in the new vehicle market has risen from 62.6% to 65.5%, while their share in the second-hand market grew from 21.3% to 24.5%. Conversely, sales for sedan and hatchback models have declined by 9.5% and 7.1%, respectively.