Rising loan refusal rates and high interest rates put car sales in a shambles

The automotive industry has been struggling with fluctuations since 2017. Even if the sales of automobiles and light commercial vehicles in September have not been announced yet, a market in the range of 60-65 thousand is mentioned. This figure means an increase of around 8-12 percent compared to the same month of 2021. From this point of view, it can be thought that things are going well in the market, but there is a possibility that companies that have been turning to retail for a while may turn their direction to fleet purchases again.

September 2022, which is expected to catch up with the 10-year September averages, passed with the expectations of consumers to adjust their tax bases. After the tax base arrangement made on the last day of August 2021, new SCT scales came in January 2022 and a small adjustment was made in the bases. As the exchange rates, which rose rapidly in December 2021, continued to rise in 2022, automobile prices rapidly climbed. This climb resulted in the absence of any cars in the 45, 50 and 60 SCT scales, while only a few models remained in the 70% SCT scale. Therefore, almost all of the cars with an engine capacity of up to 1.6 liters entered the SCT zone of 80 percent.


For nearly two years, there was almost no stock in the dealers, and many models had queues for up to several months. While there was information that the government did not need to regulate the tax base because there was no automobile stock and the high SCT income would not be abandoned, stocks began to form in the dealers as the supply problems began to decrease in the automobile. Therefore, executives of automobile companies now agree that a baseline update should come. In addition, the fact that almost no cars are left within the limit of 450-500 TL in the SCT exemption granted to the disabled and that the remaining ones cannot meet the needs of the disabled seem to be a separate problem.

Another problem experienced in recent months is the rejection rate in loans. Although it varies from brand to brand, consumers do not have zero km due to loan rejection rates of up to 70 percent in some brands. car became unavailable. In addition, the fact that credit limits are not very meaningful in today’s conditions and the high loan rates are the biggest obstacles to retail sales.


High prices are also in question in the second-hand market, as prices follow zero km. While a significant part of the sales in the second-hand market was realized in cars aged 10 years and older, previously zero km. While the frequency of automobile renewal was 3.5 years, this period has increased to 4.5 years, according to new research. This is reflected as the inability to find enough second-hand vehicles in vehicles up to the age of 5 years.

Source: Cumhuriyet Gazetesi – Gündem by www.cumhuriyet.com.tr.

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