[REVISION HISTORY]

Turkey automotive market trends and second-hand volatility

Updated 14 times since CLSTR started tracking revisions of this situation.

What changed

2026-10-19 08:37 UTC → 2026-10-21 11:55 UTC · added ~~removed~~

The contraction in Turkey’s automotive market has extended through late 2026, characterized by declining sales and aggressive manufacturer discounting. Following a 25% drop in new vehicle sales in July, August saw a further 20.28% decline. This downturn is largely attributed to high interest rates, tight credit restrictions from the Banking Regulation and Supervision Agency (BDDK), and economic volatility. To clear inventory, manufacturers have launched intense promotional campaigns. In ~~September and October, brands including Skoda, Opel, Peugeot, Suzuki, MG, and Citroen offered zero-interest credit~~ September, Skoda and Nissan introduced significant ~~cash discounts. For example,~~ reductions; Skoda ~~reported reductions of up to 975,000~~ offered 751,800 TL off the Kodiaq Prestige, while Nissan provided a 595,500 TL discount on ~~certain~~ specific Qashqai trims. Other models, ~~while Volkswagen T-Cross dealer pricing saw~~ such as the Skoda Superb Sportline, have shown price gaps ~~of nearly 944,000 TL compared to list prices.~~ as high as 974,800 TL. In October, ~~DS Automobiles introduced leasing campaigns~~ Fiat and Fiat Professional expanded these efforts with ~~payment holidays~~ cash discounts and interest-free credit options for ~~specific professional groups.~~ models including the Grande Panda Electric and the Doblo Combi Easy. The second-hand market has faced significant stagnation and price volatility. In August, listing prices saw their first decline of the year, falling 0.42% month-on-month, which represented a 2.21% decrease when inflation-adjusted. VavaCars reported that while used car prices rose 8.7% over the last year, this growth trailed both annual inflation (31.51%) and the appreciation of the US Dollar and Euro. Market trends show a growing preference for SUVs, which increased their new vehicle market share to 65.5%. ~~Conversely, demand for sedans and hatchbacks has declined.~~ Consumer behavior is also being influenced by fluctuations in gold prices, with some sellers converting vehicle assets into gold while buyers delay purchases to monitor precious metal trends.

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