New tax regulation leads to price drops in select car models
ISTANBUL
Revised Special Consumption Tax (SCT) rules for passenger vehicles have sparked significant price cuts across multiple car models.
The changes, aimed at supporting domestic production and reducing the current account deficit, were enacted through a presidential decree and published in the Official Gazette last week.
Under the new law, the tax base used to calculate SCT for passenger vehicles was updated. As a result, the SCT rates for domestically produced cars were reduced by 5 to 10 percentage points.
This adjustment led to price drops across various brands.
For instance, Citroën’s C3 Aircross SUV, C4, and C4X models saw reductions of around 3 percent. Honda’s Jazz e:HEV decreased by approximately 3 percent, while Opel’s Corsa and Frontera models dropped by 2.8 percent. Fiat’s Egea sedan experienced a more significant decline of 5.5 percent.
Volkswagen’s Polo, T-Cross, and Taigo models recorded an average price decrease of 2.73 percent. BYD’s SEAL U EV model saw the largest drop, with prices falling by 10.7 percent.
Toyota’s C-HR Hybrid was reduced by 7.4 percent, and its Corolla Hybrid, Corolla Cross Hybrid, and Corolla Hatchback Hybrid models saw discounts of up to 5.5 percent.
However, the regulation also led to price increases in certain models, particularly among electric vehicles and some internal combustion engine cars.
