Business

Breaking news: Virtual increase in car prices

Breaking news: The increase in automobile prices is triggered by stockists as well as comparator car owners. On online platforms, virtual prices determined by the logic of “If his car is ₺200 thousand, mine is ₺220”, are increasing due to the supply shortage.

Breaking news… It turned out that the exorbitant increases in vehicle prices, which SABAH has brought up for two days, were triggered by stockist dealers, showrooms and fleet companies, as well as by advertisements on online platforms. That is, car owners, who see that car prices are increasing day by day, look at their equivalents and place ads on online platforms to measure the value of their car.

Another vehicle owner who sees that ad sets a price over 10%. Another ad holder is based on this virtual price for the vehicle of the same quality. He adds another ₺20 thousand to the price of his vehicle.

This state of price determination, made in comparison to each other, soon gives birth to a virtual economy. In the past, virtual prices had no effect, as there was no shortage of vehicle supply. However, due to the shortage of vehicle supply, which started with the chip crisis recently and escalated with the movement in the exchange rate, virtual prices have now started to turn into reality…

THIS ALSO HAPPENED IN HOUSE PRICES

Stating that there are many people who advertise on online platforms just to find out the value of the vehicle, industry players stated that this situation triggered the price increase and said:

“For example, a citizen has a 10-year-old vehicle. He does not actually intend to sell it. However, after the vehicle prices are talked about a lot, he wonders about the price of his own car and places an advertisement on the online platform. It takes pictures of the vehicle and determines a price according to its equivalents. For example, ₺200 thousand was written on a vehicle that is 20 thousand km less than its own vehicle. It says ₺220 thousand. Seeing that he wrote ₺220 thousand, another person, taking into account another feature in his vehicle, says, “If this vehicle is ₺220, mine is ₺230″ and increases the price from 210 to 230. Such a virtual price movement occurs. Just like house rentals. Just as the landlord said, ‘If the upper floor has increased this much, I will increase it too’, and the rents have increased, and a similar situation is experienced in the vehicle.”

Stating that there was no problem with vehicle supply in the past, such pricing did not have a very high value, and said, “Now, since there is no vehicle, the virtual price becomes reality.”

THERE MUST BE AUDIT

Noting that such online platforms have never been audited, a gallery owner said, “When there is a report about galleries, they are audited, but the control is not very strong in virtual platforms. These places also need to be audited.”

PENALTY UP TO ₺114.500

Consumer Confederation President Aydin Agaoglu said that in almost every sector, a benchmark economy has emerged recently. Agaoglu said, “We have seen a similar situation in house rentals. Again, seeing the high prices of fruits and vegetables in the markets, the marketer also started to increase the price. Now it is happening in vehicles.” Pointing out that a legal regulation was made in 2018 in the Consumer Law regarding the unfair price increase, Agaoglu said, “Increasing prices without a justified reason is an unfair commercial practice. Today, penalties of up to ₺114 thousand 500 can be applied. When consumers encounter such a situation, they can easily complain about the unfair price increase of the ministry of commerce by showing screenshots of old and new prices.”

Source: Sabah / Translated by Irem Yildiz

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