Aydın Erkoç, Chairman of the Motor Vehicle Dealers Federation, made remarkable statements about the second-hand automobile industry.
In the second-hand car market, which has been going through one of the most challenging periods of recent years, the expectations of the sector representatives seem to have started to meet. The upward curve, which marks the spring period in the first days of the year, shows itself with the approach of the holiday. Commenting on the process Motor Vehicle Dealers Federation Chairman Aydın Erkoç evaluated the second-hand automobile industry. Stating that the market, which has been stagnant for a long time, has become active with the warming of the weather and the approach of Ramadan Feast, Erkoç stated that there has been a 10% increase in sales.
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Erkoç stated that the second hand market has been stagnant for a long time; “According to the newly announced figures, the second-hand car market reached 503 thousand units in March with an increase of 11,3 percent. We can say that the complete relaxation of the pandemic restrictions, the approach of the summer season and the holiday reflects positively on the sector this year, as it does every year. The second-hand automobile market, which was 1 million 64 thousand 434 units in the first 3 months of 2021, reached 1 million 178 thousand 550 units in the same period of 2022. In other words, there was an upward change of 10 percent in the market. The regulation on vehicle loans carried out by the BRSA last month also had a positive impact on the second-hand automobile industry. Our citizens, who cannot use loans due to the restriction in vehicle loans, can use loans, and we can observe the movement experienced thanks to this regulation. Uncertainty in the markets caused our citizens to wait.
We are in a period where inflation is increasing day by day. This is also reflected in people’s vehicle preferences. Vehicles aged 15 and over are easier to sell.Our citizens also pay attention to the fuel performance of the vehicles. Most fuel-stingy vehicles are preferred by buyers. While the stagnation in the second-hand market continued, prices remained stable. We anticipate that the increase in new vehicle prices will be reflected in second-hand vehicle prices as of this month, and therefore prices will increase.” he said.