Automotive Exports August 2023

Türkiye extends, expands ‘6 months,
6K kilometers’ car sales cap
Türkiye has expanded and prolonged a
measure aimed at reining the surge in car
prices for another six months, the country’s
Trade Ministry announced.
The prices of vehicles in Türkiye soared due
to supply shortages coupled with strong
demand, as well as high inflation and the
depreciation in the Turkish lira, which
makes imports more expensive.
Households have been seeing vehicles as
an investment tool to shield themselves
from soaring prices. Easing supply chainrelated
availability problems have also led
to increased sales since the beginning of
the year.
Under a regulation unveiled last year,
companies, car showrooms and car rental
companies had to keep the cars they
acquire for six months and cover at least
6,000 kilometers before being allowed to
sell them.
The measure has been renewed to last
until January 2024 and has been expanded
to cover individuals as well, the Trade
Ministry said in a statement.
The regulation aims at preventing unfair
practices, including exorbitant prices and
stockpiling, in the automotive market,
particularly when it comes to the online
sales of secondhand cars.
Türkiye’s annual inflation had hit a 24-year
high of 85.5% in October, before more than
halving and lastly declining to below 40%
in May.
Both consumers and the government
have blamed car dealers for price gouging.
The government ramped up its audits to
curb the prices and make vehicles more
reachable. Authorities have imposed more
than TL 75.17 million in fines on companies
for practices such as excessive pricing and
stockpiling, according to the Trade Ministry.
More than TL 35 million in fines also came
for violations of the “6 months, 6,000
kilometers” regulation, the statement read.
Car sales in Türkiye achieved their best
May and five-month figures ever, according
to industry data. Some 111,356 units
of passenger cars and light commercial
vehicles exchanged hands, marking a 70.9%
year-over-year increase.
Sales in the first five months of the year
rose 60.5% on an annual basis to 445,006
units.
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