Latest Developments in the Second Hand Car Market
According to the Turkish Statistical Institute data, second-hand car sales increased by 3,26% compared to the January-April period of last year, reaching 2 million 271 thousand 873 units. This increase stands out as a remarkable development, especially for those who are considering buying a car. Cars constituted 957% of the total 499 thousand 67,3 vehicles transferred last month. The province with the highest car sales in this period was Istanbul Istanbul, with 84 thousand 427 Ankara, with 39 thousand 83 Izmir, with 28 thousand 110 Antalya and 27 thousand 967 with Bursa is followed.
Expectation of Increase in Second Hand Car Demand
MASFED President Erkoç, in his assessment of the developments in the automobile market, emphasized that the expected movement in the second-hand automobile market has begun. Erkoç said, “With the approaching summer season and the impact of Eid al-Adha, We expect demand to increase further" He spoke as follows. Noting that there have been no serious price increases in the second-hand car sector for a long time, Erkoç stated that the horizontal course of the market keeps prices at a certain level. This situation offers a positive opportunity especially for those who want to buy a second-hand car.
The Effect of New Vehicle Prices on Second Hand Vehicles
Erkoç also stated that there was an increase in prices for new vehicles due to exchange rates and cost increases. This situation directed citizens who were thinking of buying a car to the more affordable second-hand market. There is a visible revival in the sector, and it is seen that new vehicle prices directly affect second-hand demand. At the end of the year, the total second-hand sales volume We expect it to exceed 7 million units.. Both the price advantage and the increasing need for mobility with the summer months will support the demand. For our citizens who are considering buying a car, now is a very suitable period in terms of prices.
The Role of Electric Vehicles in the Second Hand Market
Erkoç stated that electric cars, which are becoming increasingly widespread, are gaining appeal among consumers with both fuel economy and tax advantages. Electric vehicles are becoming increasingly popular in the second-hand market. creating new momentum. The increasing demand for individual use, especially in metropolitan cities, is expanding second-hand vehicle options. Emphasizing that access to financing is of great importance for the acceleration of recovery in the sector, Erkoç said, “If there is a relaxation in loan interest rates, it will become easier to access a car.”
The Importance of Financing Facilities
He stated that facilitating access to credit and reducing interest rates are critical for citizens to meet their automobile needs. With financial support, stability can be achieved in the market on both the supply and demand sides. The second-hand automobile market continues to offer opportunities for consumers with both its price advantage and expanding product range. Supportive steps are also important in maintaining and strengthening this momentum.
Tips for Selling Used Cars
- Do Price Research: When buying a used car, it is important to research the market prices. Comparing prices across different platforms will help you find the best deal.
- Check Vehicle Condition: Checking the history and current condition of the vehicle you are considering will prevent problems you may experience in the future.
- Take a Test Drive: Taking a test drive when purchasing a vehicle is an important step in evaluating the vehicle's performance.
- Work with Trusted Vendors: Working with reliable sellers in the second-hand market will positively impact your shopping experience.
Final Thoughts
The second-hand car market has become even more active with recent developments. Increasing demand, price advantages and expanding vehicle options offer opportunities to consumers. In this process, consumers acting consciously and making the right choices will increase their satisfaction in the long run.
