What is happening to used car prices in Turkey? Evidence from Hedonic Price Model (HPM)

Year 2021, Issue: 46, 225 - 240, 20.10.2021

Mustafa Koç , Nurcan Kostak

https://doi.org/10.52642/susbed.909818

Cited By: 2

Abstract

With the Covid 19 pandemic, many sectors on a global scale have been affected by this situation. In Turkey, automobile industry faced with high price volatilities and used car prices increased drastically, indeed, they surged brand new ones. Thus, the purpose of this study is examining the used car prices on two different time May 2020 and Mar 2021 by Hedonic Price Model (HPM). For this purpose, cross-sectional linear regression method is applied to price and hedonic characteristics of Renault Megane and Volkswagen Passat as two of top 10 most sold car model in 2020 in Turkey. Equipment, year, milage, transmission, fuel, color and location of the seller variables were applied to determine the effect on the price of the used car. On both dates 2018-2019-2020 model year cars are used for comparison purposes. According to test results the equipment, year, milage, transmission and fuel variables and constant term for each model are statistically significant. The color variables and variables represent the location of the seller are less successful in explanation.

Keywords

used car prices, price fluctuation, hedonic price model, automobile industry, Turkey

Türkiye'de İkinci El Araç Fiyatlarına Ne Oluyor? Hedonik Fiyat Modeli (HPM) Üzerinden Bulgular

Abstract

Covid 19 pandemisiyle birlikte küresel çapta pek çok sektör bu durumdan etkilenmiştir. Türkiye’de otomobil sektörü ise yüksek fiyat dalgalanmalarının yaşandığı ve ikinci el araç fiyatlarının önemli ölçüde yükseliş gösterdiği hatta sıfır araç fiyatlarının önüne geçtiği tespit edilmiştir. Bu sebeple bu çalışmanın amacı, Hedonic Fiyat Modeli (HPM) ile Mayıs 2020 ve Mart 2021 olmak üzere iki farklı zaman diliminde ikinci el araba fiyatlarını incelemektir. Bu amaçla, 2020 yılında Türkiye'de en çok satılan ilk 10 otomobil modelinden ikisi olan Renault Megane ve Volkswagen Passat'ın fiyatları ve hedonik özelliklerine kesitsel doğrusal regresyon yöntemi uygulanmıştır. İkinci el arabanın fiyatı üzerindeki etkiyi belirlemek için donanım, yıl, kilometre, şanzıman, yakıt, renk ve satıcının konumu değişkenleri kullanılmıştır. Karşılaştırma yapabilmek adına her iki tarihte de 2018-2019-2020 model yılı arabalar kullanılmıştır. Test sonuçlarına göre her bir model için donanım, yıl, kilometre, şanzıman, yakıt değişkenleri ve sabit terim istatistiksel olarak anlamlıdır. Renk değişkenleri ve satıcının konumunu gösteren değişkenler araç fiyatlarını açıklamada daha az başarılıdır.

Keywords

ikinci el araba fiyatları, fiyat dalgalanması, hedonik fiyat modeli, otomobil sektörü, Türkiye

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