What is happening to used car prices in Turkey? Evidence from Hedonic Price Model (HPM)
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...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Selçuk University
2021-10-01
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| Series: | Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/download/article-file/1684923 |
| _version_ | 1797686457366740992 |
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| author | Mustafa Koç Nurcan Kostak |
| author_facet | Mustafa Koç Nurcan Kostak |
| author_sort | Mustafa Koç |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-03-12T01:05:22Z |
| format | Article |
| id | doaj.art-da3063db987c47f5a725bc46e07c320f |
| institution | Directory Open Access Journal |
| issn | 2667-4750 |
| language | English |
| last_indexed | 2024-03-12T01:05:22Z |
| publishDate | 2021-10-01 |
| publisher | Selçuk University |
| record_format | Article |
| series | Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi |
| spelling | doaj.art-da3063db987c47f5a725bc46e07c320f2023-09-14T08:49:22ZengSelçuk UniversitySelçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi2667-47502021-10-014622524010.52642/susbed.909818154What is happening to used car prices in Turkey? Evidence from Hedonic Price Model (HPM)Mustafa Koç0Nurcan Kostak1SAKARYA ÜNİVERSİTESİSAKARYA ÜNİVERSİTESİWith 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.https://dergipark.org.tr/tr/download/article-file/1684923used car pricesprice fluctuationhedonic price modelautomobile industryturkeyikinci el araba fiyatlarıfiyat dalgalanmasıhedonik fiyat modeliotomobil sektörütürkiye |
| spellingShingle | Mustafa Koç Nurcan Kostak What is happening to used car prices in Turkey? Evidence from Hedonic Price Model (HPM) Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi used car prices price fluctuation hedonic price model automobile industry turkey ikinci el araba fiyatları fiyat dalgalanması hedonik fiyat modeli otomobil sektörü türkiye |
| title | What is happening to used car prices in Turkey? Evidence from Hedonic Price Model (HPM) |
| title_full | What is happening to used car prices in Turkey? Evidence from Hedonic Price Model (HPM) |
| title_fullStr | What is happening to used car prices in Turkey? Evidence from Hedonic Price Model (HPM) |
| title_full_unstemmed | What is happening to used car prices in Turkey? Evidence from Hedonic Price Model (HPM) |
| title_short | What is happening to used car prices in Turkey? Evidence from Hedonic Price Model (HPM) |
| title_sort | what is happening to used car prices in turkey evidence from hedonic price model hpm |
| topic | used car prices price fluctuation hedonic price model automobile industry turkey ikinci el araba fiyatları fiyat dalgalanması hedonik fiyat modeli otomobil sektörü türkiye |
| url | https://dergipark.org.tr/tr/download/article-file/1684923 |
| work_keys_str_mv | AT mustafakoc whatishappeningtousedcarpricesinturkeyevidencefromhedonicpricemodelhpm AT nurcankostak whatishappeningtousedcarpricesinturkeyevidencefromhedonicpricemodelhpm |