How Long Will Second Hand Car Prices Fall?

The new car market in Turkey is mixed. Both regulations and sales drop sign The fact that it has started to show this suggests that there will be a serious contraction at the end of this year. However, Cardata General Manager Hüsamettin Yalçın said that this was the right approach. it won’t happen he suggested. According to Yalçın, the new car market will increase by the end of the year. will exceed 1 million.

According to Hüsamettin Yalçın, both the regulations originating from the European Union and the imposition of additional customs duties on automobiles coming from China will lead to a sales boom in June. In fact, according to the Cardata manager, data for June 100-120 thousand It will show sales. Hüsamettin Yalçın, “Campaigns became much more ambitious, especially in June. Namely, while 26 percent of the vehicles sold in the market in June, that is, one in every 4 vehicles, were discounted, the average discount rate reached 6 percent.” said.

Hüsamettin Yalçın is also hopeful for the second-hand market

According to the statement made by Hüsamettin Yalçın, the second-hand car market will continue in 2024. over 5 million will close with sales. The Cardata manager’s statement on the subject is as follows:

As the Ministry of Treasury and Finance reduced the credit taps and the Ministry of Commerce intervened in automobile prices, the supply of new vehicles increased, and the dealers who used stockpiling as an excuse for the fluctuation in the exchange rate disappeared by 30 percent. Second-hand prices also returned by 30 percent. This decline started at the beginning of summer last year. In the second-hand market, difficulties in accessing credit and high interest rates have currently reduced demand. We expect some changes in the second-hand car market in the second half of the year. We foresee a second-hand recovery in the last quarter of the year, especially after September. Why the last quarter of the year? Because there are important sales campaigns at zero kilometers and this narrows the gap between second-hand vehicle prices. That’s why the decline in second-hand vehicle prices continues until the last quarter of the year. Thus, second-hand vehicles, whose prices have decreased even more as of the last quarter of the year, may become a point of attraction. On the other hand, the second-hand value of Chinese models, whose new mileage prices have increased due to the additional tax, will also increase.

Campaigns will increase

Hüsamettin Yalçın also made a striking statement about the campaigns. Much of the second half of the year telling that it will be lively Hüsamettin Yalçın said:

So, which are the best-selling new cars in Turkey?