As the rate of exchange rate increases decreased, used cars became an investment tool. While the rate of increase in the used car market has exceeded 80 percent since last May, the models with the highest increase in value were C-segment sedans less than 5-6 years old. Explaining that the price increase will continue after the election, the representatives of the industry said that the prices on the advertisement sites are far from the real market situation.
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.
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.
Up to 110% increase in some models
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 is determined by the advertising sites”
CEO of Cardata Husamettin YalcinEmphasizing that classifieds websites have also been effective in determining prices in Turkey for the past 10 years, “In determining the price, dealers and galleries were registered on these job posting sites. The value of the car is determined by checking the prices of the car on classifieds websites. Unfortunately, we are moving away from the reality of the market, the price of the car is determined.‘ he said.
“Prices are not expected to drop”
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 price drop was not expected. 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 in line with the increase in the exchange rate.” say.
Price changes in used cars last year
• 2017 RENAULT Megane 1.5 DCI Touch Diesel Automatic Sedan C 733.500 TL – 93%