The second-hand car market, which has left behind zero kilometers with its increase rate, has also overtaken the basic investment vehicles.
The automotive market in Turkey, which exceeded 110 thousand as a combination of passenger and commercial vehicles in May, is experiencing its highest graphic in recent years. In parallel with the dynamics that automobile manufacturers cannot keep up with the existing demand, access to zero kilometer vehicles is still at very difficult levels. In the automotive world, which has become the center of consumers who want to protect their assets and make investments in recent years, an extraordinary process is taking place in the second-hand market as well. These days, when we are used to the news of price hikes for zero kilometer vehicles, the rate of increase has reached a much more radical level on the second-hand automobile side. With the zero kilometer vehicle shortage turned into an opportunity, the new models we see on the advertisement pages, which are much higher than the sticker price, also become a reference point for vehicles with old model years. Recent research on the price chart of second-hand models reveals that the price increase in zero kilometer vehicle sales in the first 5 months of the year is at least 17-25 percent. This figure is close to 50 percent in the second hand.
used car agenda is also at the center of brand managers
It is no longer a secret that with the increasing interest in the second-hand automobile market, second-hand automobiles have also become an investment tool. Especially in the last year, the investment made in second-hand vehicles has provided high profits to its buyers. Another study in this area reveals that investment in automobiles surpasses investments in gold and foreign currency. According to Indicata data, a second-hand car purchased in January 2022 gained an average of 87 percent in the 16 months until May 2023. According to the Investing.com website, this rate remained below 58 percent and 43 percent in foreign currency.
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Access to real users is also a big question mark in an environment where automobile prices continue to rise and purchasing power drops radically. Answering our questions within the scope of a special event recently, Renault Turkey General Manager Berk Çağdaş said, “We know very well that 40% of today’s sales are made for speculative purposes.He stated that they are following the current situation.
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He turned to the car that could not buy a house
Another factor in the price impasse in the market was the flight of real estate prices. This desire of the consumer, who used to dream of buying a house, has become impossible. Second-hand cars were the first stop for the majority of people who wanted to make use of their money. Hüsamettin Yalçın, General Manager of Cardata, one of the important representatives of the automotive industry, draws attention to the significant difference in the increase curve of second-hand cars compared to new cars. Hüsamettin Yalçın pointed out that consumers could not find credit; “Since credit could not be found, consumers turned to cash purchases for both new and second-hand vehicles. This is a strong statement that the car is now an investment tool. The price increase in a year has reached 90 percent. People went to buy new vehicles because they expected an increase in foreign currency after the election. In addition, those who could not buy real estate turned to automobiles. Second hand is also very lively.” he stated. The ease of the disposal cycle of the automobile, which has turned into an investment vehicle, and its advantage over real estate in the sales process are among the parameters we should skip at this point.