When it comes to car sales in Turkey, sahibinden, one of the biggest platforms, shared the “Automobile Market Outlook” report.
It was prepared by Bahçeşehir University Economic and Social Research Center (BETAM) based on the advertisements published on sahibinden. The general situation of the second-hand car market, prices, supply and demand balance; analyzing according to vehicle classes, age groups and fuel types The “Automobile Market Outlook” report examined the recent changes in the automobile market. All the details conveyed on this subject were as follows: “According to the report, the real price of cars for sale decreased by 8.5 percent compared to January last year and 6 percent compared to the previous month. On the other hand, the current price of automobiles increased by 50.9 percent compared to January last year and remained unchanged compared to December. The average car price in January was 860 thousand 443 TL. Automobile demand index increased by 5.6 percent compared to December. The ratio of the number of cars sold to the number of ads for sale, which we monitor as an indicator of vitality in the automobile market, increased by 0.8 points and reached 17.7 percent. When the details of this indicator are examined, it is seen that while the number of advertisements decreases, the number of cars sold increases.
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When adjusted for inflation, the average real price of automobiles has decreased for seven months. The real price index decreased by 6 percent compared to December and reached 198. The annual rate of increase in real prices is also decreasing. The increase rate, which reached 47.9 percent in May, decreased continuously in the following months and fell to -8.5 percent in January. Automobile prices and the annual rate of increase in prices are decreasing. The average car price was virtually unchanged in January, following a decline in the previous three months. The average car price, which was 860 thousand 480 TL in December, decreased to 860 thousand 443 TL in January. Similarly, the annual rate of increase in automobile prices is also decreasing. The annual increase rate, which was 65.9 percent in December, decreased to 50.9 percent in January.
The automobile demand index increased in January as well as in November and December. In January 2024, the demand index increased by 5.6 percent compared to the previous month and reached 98.3. However, the demand index turns out to be 13.6 percent lower compared to the same month of the previous year.
The ratio of the number of cars sold to the number of ads for sale increased by 0.8 points compared to the previous month and reached 17.7 per hundred. When the background of this increase is examined, it is seen that the number of car advertisements for sale decreased by 1 percent, while the number of cars sold increased by 3.5 percent.
The age of closed advertisements, another indicator of the vitality of the automobile market, has increased for the seventh month, contrary to what other indicators imply. According to the data of January 2024, the age of closed advertisements increased by 0.3 days compared to the previous month and became 25.1 days.”