The automotive industry has been struggling with stockpiling and price increases in recent months. The Ministry of Commerce announced that it has made new regulations to eliminate the imbalances and grievances in the sector. One of the main changes to be made is automobile prices.
Dealers who own the vehicle will not be able to increase the price
According to the new decision of the Ministry of Commerce, dealers will not be able to increase the price after owning the vehicle. Thus, customers who want the vehicle and current consumers will be protected from the price difference. Additionally, there will be a 10 percent upper limit on down payments.
With regulation, tighter controls for distributors are on the way. Distributors will be required to avoid practices that may disrupt competition between dealers. There will also be an obligation to notify price changes 3 days in advance.
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Distributors will also have to complete vehicle shipments within 15 days. Thus, it is aimed to prevent price increases caused by stock problems. Regulations regarding second-hand vehicle sales online are also on the way.
Accordingly, valuation companies now have to share all the details of the vehicle. They will also limit the difference between the first bid and the last bid to 5 percent. In this way, transparency will be ensured in vehicle valuations and the buyer/seller will not be victimized.
The Ministry of Commerce aims to protect the consumer and ensure balance in the automotive industry with the regulations made. The changes are expected to come into force in the coming days and fines will be imposed on sellers who do not comply.
So what do you think about car prices? You can write your opinions in the comments section below.