05.03.2025 16:20
According to the Ministry of Trade's 2024 activity report, the ministry continues to impose heavy fines on companies that engage in exorbitant pricing and hoarding practices in order to ensure access to goods and services at fair prices and to prevent unjust profits. Last year, companies that practiced exorbitant pricing were fined 216.4 million lira, while those involved in hoarding activities in the automotive sector faced fines of 64.8 million lira. Additionally, jewelers operating without a license were also fined 25 million lira.
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In the inspections conducted by the Ministry of Trade last year, fines of 216.4 million lira were imposed on companies applying exorbitant prices, and 64.8 million lira on those engaged in stockpiling activities in the automotive sector.
According to the Ministry of Trade's 2024 Activity Report, efforts are ongoing to ensure that consumers have access to goods and services at fair prices, to maintain market balance, and to prevent unfair profits.
To prevent the negative impacts of manipulative price increases in the market, inspections and investigations related to exorbitant prices and stockpiling are being carried out.
The Unfair Price Assessment Board, affiliated with the Ministry, monitors price movements in certain sectors. The board conducts inspections and investigations regarding exorbitant prices and stockpiling practices and imposes administrative fines.
12.6 MILLION LIRA FINE FOR VIOLATIONS IN THE AUTOMOTIVE SECTOR
In line with complaints made to the Ministry regarding exorbitant prices, unfair price increase investigations conducted by provincial trade directorates resulted in inspections of 72,774 companies and 661,327 products last year. As a result of the inspections, it was decided to impose a total fine of 216 million 410 thousand 314 lira on businesses found to be in violation of the regulations.
Especially in the market for motor vehicles, various measures have been implemented to prevent unfair commercial profits, ranging from the "6 months-6 thousand kilometers" regulation to advertising restrictions. In this context, in 2024, those who acted contrary to the 6 months-6 thousand kilometers regulation and advertising restrictions in automotive sector inspections were fined 12 million 608 thousand 640 lira for operating without obtaining an authorization certificate.
On the other hand, as a result of complaints received by the Ministry, a series of inspections were carried out in the sector. Following discussions at the Unfair Price Assessment Board, businesses identified as engaging in stockpiling were fined 64 million 805 thousand 288 lira.
25 MILLION LIRA FINE FOR JEWELERS WITHOUT AUTHORIZATION CERTIFICATES
The Ministry has also scrutinized activities in the jewelry sector to ensure fair competition, protect consumers, and prevent unregistered activities. The aim was to prevent jewelry businesses from operating without obtaining authorization certificates, thereby increasing reliability in the sector and protecting consumers from harm.
In this context, last year, 2,367 businesses were granted authorization certificates for jewelry trade. As a result of inspection activities aimed at recording jewelry trade, businesses found to be operating without authorization certificates were fined a total of 25 million lira in 2024.
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