Second Hand Car Prices Are Falling

Second-hand cars in Turkey, last year from an interesting period passed. The negativities experienced in the market caused second-hand vehicles to become more expensive than new. The government has made various efforts to prevent this, but these efforts have also did not give the desired result. The second-hand market has improved relatively as the shortage of new cars has disappeared. A study also reveals that there are price decreases in the second-hand market.

Bahçeşehir University, Turkey’s leading advertising platform sahibinden.comUsing the data in “Automobile Market Outlook” prepared a report called “. In this report, what is happening in the automobile market is explained. When we look at the shared data, second-hand car prices there is a decline And in parallel, we see that sales in the market have started to increase. Let’s look at the details of that research together.

Car prices are in the average range of 860 thousand 443 TL

According to the research, the real prices of second-hand cars increased by 6 percent compared to the previous month and by 6 percent compared to January of the previous year. by 8.5 percent showed a decrease. Accordingly, the average price on sahibinden.com is, 860 thousand 443 TL happened. The report stated that prices also decreased when adjusted for inflation. Even when second-hand car prices are considered independently of inflation data, It has been falling for 7 months.

*Graph showing how prices change on a monthly basis.

Research shows that the automobile demand index increased compared to the previous month. 5.6 percent increase showed that. On the other hand; The ratio of the number of cars sold to the number of ads for sale increased by 0.8 points. In other words, there has been an increase in the number of cars sold. Meanwhile; Data taken from sahibinden.com, number of vehicles advertised 1 percent decrease revealed that it happened. In other words, while the demand for second-hand cars increases, the supply decreases.

*Comparative chart of the number of second-hand cars advertised and the cars sold.

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