Hüsamettin Yalçın, General Manager of Cardata company, said that they expect a strong closure in both the new kilometer vehicle market and the second-hand car market by the end of 2024. said.
Hüsamettin Yalçın emphasized that the year’s total sales in the zero kilometer vehicle market reached 1 million 68 thousand 260 units as of November.“In December, this figure is expected to rise to over 1 million 200 thousand units with sales of 160 thousand – 180 thousand units. In this case, it seems quite possible that the new vehicle market will even surpass last year’s record of 1 million 232 thousand 635 units. This success is likely to be achieved due to the effect of postponed demand, new model launches, partial increase in fleet purchases and year-end sales campaigns. The growth trend in the second-hand car market, which started in the summer months, continues until the last month of the year. In particular, the increase in new vehicle prices has increased the demand for second-hand cars, and as this trend continues in December, total sales are expected to exceed 7 million units and break a new record. Achieving these results in a year when credit taps were closed, inflation was high and purchasing power was not at the desired level shows how strong the dynamics and adaptability of the automotive industry are. These dynamics reveal that the Turkish automotive industry continues its growth trend in terms of demand and sales and is preparing for new records, despite the difficulties it encountered throughout the year. “We do not expect the new kilometer vehicle market to fall below 1 million units and the second-hand market to fall below 7 million units in the coming years.” he said.
YOU MAY BE INTERESTED IN
Emphasizing that the sales increase trend in the second-hand car market, which started especially in the summer months, will continue until the end of the year, Hüsamettin Yalçın continued as follows: “While second-hand car sales have been growing consecutively since July, a sales figure of 680 thousand 849 units was reached in October, with a remarkable increase of 51.54 percent. Thus, as of the first 10 months of the year, the contraction in the market decreased to 2.71 percent, and it is considered certain that this gap will be closed at the end of the year and the performance of 2023 will be exceeded. Among the reasons for this activity in the second-hand market, the constant increase in new-kilometer vehicle prices, the purchasing tendency of consumers against exchange rate risk, and the impact of commercial galleries and other sellers on the market stand out.
While consumers are turning to second-hand vehicles, especially due to the increase in new vehicle prices, increasing supply and competition are also revitalizing the market. There may be a record in the second-hand car market at the end of 2024; We can expect total sales to exceed 7 million units, reaching a new record level. Especially in December, we may see a strong closing in second-hand vehicles due to the activity in the new vehicle market. “With these dynamics, the increasing trend in the market throughout the year will continue unabated until the end of the year.”