Friday, September 22, 2023

Statement by Minister of Commerce Ömer Bolat on the second hand car market: Prices have started to loosen

Trade Minister Ömer Bolat announced that prices in the second-hand market, which has passed new cars, have started to loosen with the measures taken. Bolat said, “As the first action, we carried out intense inspections on the dealers and galleries wearing disguised clothes. Our friends fined them for the unfair and inappropriate activities they detected, hoarding. It will take a few weeks, but hopefully we will ensure stability here. Approximately 4,800 people are more than 50 people. They made a sale. Defense was requested from them and the necessary defenses are taken, penalties will be sent to them.” said.

“THE SECOND HAND SALES HAVE LOOSE”

Meeting with media representatives, Minister Bolat answered questions on many issues from the automotive industry to food inspections. Providing information about the measures taken for the second-hand market in the automotive industry, Bolat said:

“We observed that it was a hot issue, and as the first action, we carried out intense inspections on the dealers and galleries wearing disguise. Our friends fined the unjust and inappropriate activities they detected, stocking activities. Some of the dealers were forced to put the vehicles they stocked on the market now, and they told their customers that they did not have any vehicles. we even call the galleries and see that they say they have a vehicle, would you like to buy it.

“NEEDED DEFENSE WILL BE TAKEN, PENALTY WILL BE IMPLEMENTED”

We have made very important arrangements in this regard with the measures we have started and taken just before the holiday for the last 2 weeks. We establish the necessary contacts within the sectors and get information at the point of prices and sales. We have observed that second-hand sales, which are also higher in terms of prices, have gained a downward momentum towards the sales price of new vehicles. It will take a few weeks, but of course, hopefully we will stabilize here. Approximately 4,800 people made more than 50 sales. It is understood that these are sales made either individually or by employees working with galleries or dealers, relatives at work and so on. Defense was requested from them and necessary defenses are taken, punishments will be sent to them.

“SECOND HAND AUTO IMPORT IS NOT ON THE AGENDA”

Automotive imports increased by 75 percent compared to last year. In terms of figures, there is an increase of 11 billion dollars compared to the same period of the previous year. In this sense, no work has been done on the importation of second-hand cars. This issue is not only the subject of our ministry, it is an issue that can be decided in consultations, especially with our President. For now, such an issue is not on our agenda.

198 MILLION TL PENALTY FOR STOCKERS

Exorbitant price increases and stockpiling are being fought resolutely. In this context, we implement legal regulations without delay and continue field inspections without interruption. “We have imposed a total of 198.2 million TL fines on 1,920 businesses that engage in exorbitant price increases or stockpiling,” he said.

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