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Will new vehicle prices decrease after the SCT reduction?

The question of which vehicles the SCT reduction came to the fore with the change in the tax bases. After the SCT reduction, the eyes turned to the second-hand and new vehicle market. A change was made in the Special Consumption Tax (SCT) base used in new automobile sales. According to the decision published in the Official Gazette with the signature of President Recep Tayyip Erdogan, the passenger car Special Consumption Tax (SCT) bases have changed. After the tax base decision, the eyes were turned to automobile prices. So, is the SCT discount valid for all vehicles, and which vehicles will it cover? Will new vehicle prices decrease after the SCT reduction?

The amendment made in the Special Consumption Tax (SCT) bases of automobiles was published in the Official Gazette. The tax base limit in the 50% SCT segment was increased from ₺130 thousand to ₺150 thousand.

In the decision, a change was made in the SCT segment of electric cars. The upper limit of the 45% SCT segment was determined as ₺114 thousand for electric vehicles whose engine power exceeds 50 kW and whose cylinder volume does not exceed 1800 cm3. For vehicles with a value between ₺114 thousand and ₺170 thousand, 50% SCT will be applied. Thus, discounts of up to ₺50 thousand will be realized in new car prices. Thus, the price of the car sold for ₺300 thousand will decrease to ₺252 thousand.

With the new decision, there was an expectation that the prices of some models of some brands would decrease slightly. Major price drops are expected for the most popular models of brands such as Renault, Toyota, Dacia, Volkswagen, Honda, KIA, Hyundai.

With the increase in the base for electric and hybrid models, prices are expected to decrease by ₺50-60 thousand. In this way, prices will be lowered in the second-hand market.

Source: Hurriyet / Translated by Irem Yildiz

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