Why Didn’t Second-Hand Car Prices Fall Despite The Dollar?

As of last week, an extraordinary process has been going on in Turkey. Turkish lira overnight around 30 percent appreciation and the effect of this situation on almost every sector has led to uncertainties in the world of consumption. Because the price increases in parallel with the rise in the dollar rate did not show itself while the dollar rate was falling. This is the citizen discount expectation and people began to delay the products they were going to buy and wait for the prices to drop.

Perhaps the only sector where the change in the dollar exchange rate is directly reflected on the prices, automotive it happened. New car dealers in Turkey directly lowered their vehicle prices. Even some models 360 thousand TL There was even a discount. However, this situation not reflected in the second-hand automotive industry. Commenting on the subject Hüsamettin Yalçın, General Manager of Cardataexplained why the second-hand market has come to a standstill and when prices will fall.

“There was a 200 percent difference between second hand and new”

According to Hüsamettin Yalçın’s statements, the high price trend in second-hand cars was disrupted by the crash of the dollar exchange rate. However, vehicle owners have not yet realized this situation. not reflected in prices. This led to a difference of up to 200 percent between the new and second hand of the same car. Saying “Unconsciousness”, Yalçın said, “The high-priced sales trend in online advertisement platforms of end users has been disrupted with this exchange rate regulation. Therefore, almost used cars are not available for sale. With the declining new car prices for the moment, a gap has formed between the second hand market, especially due to the high pricing of individual sellers. In some models, used car prices are compared to new cars. up to 200 percent ratios remained.‘ he said.

So when will used car prices drop? Hüsamettin Yalçın’s statement on the subject is as follows; Prices for second-hand cars will also decline, indexed to new models. However, this happens, as in the new model vehicle market. it won’t happen overnight. If the exchange rate remains stable, there is no new increase in the SCT and if these discounts exceeding 20 percent in new vehicle prices continue, the second-hand market will gradually show the same trend. For this to happen a period of 20-25 days needs. By the middle of January 2022, the second-hand market will reach normal levels according to today’s exchange rates.