[REVISION HISTORY]

Turkey automotive market trends and second-hand volatility

Updated 8 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-04 12:13 UTC → 2026-09-10 17:57 UTC · added ~~removed~~

The contraction in Turkey’s automotive market has extended into late summer, impacting fiscal revenues and driving aggressive pricing strategies. In July, Special Consumption Tax (ÖTV) revenues ~~from the sector~~ fell by 2.55% ~~year-on-year. For~~ year-on-year, with collections for the first seven months of ~~2026, tax collections reached approximately 419-420 billion TL, representing~~ 2026 reaching only about 44% of the ~~900 billion TL~~ annual target. ~~To combat falling demand and clear inventory,~~ Following a 20.28% decline in sales during August, manufacturers ~~have initiated intense price competition. Significant gaps have emerged between official list prices~~ launched major promotional campaigns in September 2026 to stimulate demand. Brands including Skoda, Opel, Peugeot, Suzuki, MG, and ~~dealer prices; for example, the Volkswagen T-Cross~~ Citroën are offering zero-interest credit, trade-in support, and significant cash discounts. For instance, Skoda has ~~seen~~ announced reductions of ~~nearly 944,000 lira. This trend has also affected the second-hand market, where~~ up to 975,000 TL on certain models, including the ~~gap between advertised listing prices~~ Scala Monte Carlo and ~~actual sale prices increased from 9.6%~~ Octavia mHEV hybrid. These efforts aim to ~~14.6% over~~ counteract high financing costs and credit restrictions imposed by the ~~past year. New data~~ Banking Regulation and Supervision Agency (BDDK). The second-hand market is also experiencing a shift. Data from ~~the VavaAI Price Index~~ arabam.com indicates that ~~used vehicle prices in Turkey decreased by 0.2% in~~ August ~~compared to~~ saw the ~~previous month. While used car~~ first decline in listing prices ~~rose by 8.7% over the last year, this growth remains significantly below the annual inflation rate of 31.51% and the appreciation of the US dollar (17.7%) and Euro (16.9%). Since~~ since the start of the year, with nominal prices falling by 0.42% month-on-month and a real price ~~increases~~ decrease of ~~5% have trailed both inflation~~ 2.21% when adjusted for inflation. This downturn is attributed to attractive new vehicle campaigns and ~~currency gains.~~ increased consumer activity in the gold market as individuals convert investments to cash. While certified pre-owned (CPO) vehicles remain a way to mitigate mechanical risks, they typically command a 4% to 5% premium over non-certified models. Market analysts attribute these trends to ~~increased competition in the new car sector,~~ tight monetary ~~policy,~~ policy and limited credit ~~access, and high financing costs.~~ access. Consumer preferences continue to shift toward SUVs, which ~~now~~ hold a 65.5% market share in new vehicle ~~sales and 24.5% in the second-hand market, while sedan and hatchback sales have declined by 9.5% and 7.1%, respectively.~~ sales.

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