Raise in Special Consumption Tax (ÖTV) affects the secondhand car market negatively in Turkey. Van Car Dealers’ Cooperative chairperson İsmet İnan stated that the capital of car dealers shopkeepers reduced by half and added they did not predict a drop in prices.
The amendment, including the raise of ÖTV, entered into force on September 5. The secondhand car market has become depressed over the tax raise. Car dealers have been seeking ways to prevent depression in the market.
