From 411,000 TL to 754,000 TL! Up 83 percent: Will used car prices go down? ‘The market is far from reality…’ – The right address for financial news

The supply problem and high inflation in zero kilometer vehicles in the automotive industry has made used cars one of the most profitable investment vehicles in the short term. The most profitable models in this period were mid-class sedans.

THE PRICE INCREASED 83 PERCENT ON AVERAGE WITHIN ONE YEAR

According to Cardata data, the price of the best-selling used cars in Turkey increased by an average of 83 percent between May 2022 and May 2023. While the average price of a used car was 411,000 TL in May 2022, this figure increased to 754,000 TL in the same period of this year.

IN SOME OF THESE INCREASE IT REACHED 110 PERCENT

In section C, the price increase was faster. In the last year, the price of C-segment cars has increased by 89 percent. C-segment second-hand car prices, which averaged 303,000 TL in May 2022, increased to 572,000 TL in May 2023 for the year. When the share of SUVs in zero kilometer vehicles exceeded sedans, it was found that sedans were the most in demand in the used market.

The price of some C-segment sedans has increased by more than 110 percent in the last year.

“PRICE DEFINED BY ADVERTISING FOR THE PAST 10 YEARS”

Cardata CEO Hüsamettin Yalçın reminded that the main factor that determines the price of second-hand models is undoubtedly the demand for the car in the market, and pointed out that the decrease in purchasing power in Turkey has directed the demand towards more affordable cars.

On the other hand, stressing that classifieds sites have also been effective in determining prices in Turkey for the past 10 years, Yalçın said, “Traders and galleries, that is, sellers, registered on these posting sites work in determining prices. The value of the car is determined by looking at the car prices on classifieds sites. Unfortunately, we are moving away from the real market conditions, and the car price is determined.

Emphasizing that the increase in the price of zero kilometers of a car is also an important factor that affects the second-hand value, Yalçın said that factors such as the availability of spare parts and the brand’s service network affect the price due to the demand for the car.

PRICE REDUCTIONS ARE NOT EXPECTED

Hüsamettin Yalçın said that people invested in cars to protect the value of their money, as there was no significant increase in the exchange rate last year. Indicating that this situation will continue after the election, Yalçın said, “The decrease in prices is not expected. The demand is still very high in the used car market. Because the number of cars that can be bought in the used car market is certain. “Prices will increase along with an increase in the exchange rate,” he said.

PRICE CHANGE RATE IN THE LAST YEARS OF USED CARS

• 2017 RENAULT Megane 1.5 DCI Touch Diesel Automatic Sedan C 733.500 TL – 93%
• 2018 RENAULT Megane 1.5 DCI Touch Diesel Automatic Sedan C 752,400 TL – 88 percent
• 2017 FIAT Egea 1.3 MultiJet Easy Diesel Manual Sedan C 490.100 TL – 101 Percent
• FIAT Linea 1.3 MultiJet Pop Diesel Manual 2015 Sedan C 395.000 TL – 111 percent
• 2020 FIAT Egea 1.3 MultiJet Easy Diesel Manual Sedan C 558,000 TL – 85 percent
• 2017 RENAULT Megane 1.5 DCI Icon Diesel Automatic Sedan C 817.800 TL – 89 percent
• 2021 HONDA Civic 1.6 i-VTEC Eco Elegance Gas/Petrol Automatic Sedan C 1.007.800 TL – 96 percent
• 2015 RENAULT Fluence 1.5 DCI Touch Diesel Automatic Sedan C 550.400 TL – 105 percent
• 2017 FORD Focus 1.5 TDCI Trend X Diesel Automatic Sedan C 714,700 TL – 99 percent
• 2020 FIAT Egea 1.4 Fire Easy Petrol Manual Sedan C 516.500 TL – 100 percent
• 2015 VOLKSWAGEN Jetta 1.6 TDI Comfortline Diesel Automatic Sedan C 733.400 TL – 89 percent
• 2016 VOLKSWAGEN Golf 1.6 TDI BMT Comfortline Diesel Automatic Hatchback C 772.400 TL- 91 percent
• 2017 SEAT Leon 1.6 TDI Start&Stop Style Diesel Automatic Hatchback C 793,000 TL – 102 percent
• 2015 MERCEDES-BENZ CLA 180 CDI AMG Diesel Automatic Coupe C 1.136.400 TL – 83 percent
• 2012 AUDI A3 1.6 TDI Attraction Diesel Automatic Hatchback C 630,600 TL – 86%
• 2015 VOLKSWAGEN Passat 1.6 TDI BMT Comfortline Diesel Automatic Sedan D 1.004.600 TL – 95 percent