The ‘Second Hand Car Report’ prepared in cooperation with Quick Finans and SmartIQ has been published. The report included current data on the new and second-hand vehicle market.
According to the report, the number of vehicles sold in the 0-kilometer automobile and light commercial vehicle market in May decreased by 10 percent compared to the same month of 2023, reaching 100 thousand 305 units. There was a 30 percent increase in sales compared to last month, thanks to the campaigns organized due to the short month of April and the security equipment regulation that will be put into effect on July 7.
In the light commercial vehicle market, in the January-May period this year, the number of vehicles sold increased by 6 percent compared to the same period of 2023, reaching 471 thousand 743 units.
BOTTOM PRICES FOR SECOND HAND CONTINUES
In the report, it was stated that the declines in second-hand vehicle prices, which started in the 2nd half of the same year, which peaked in lira and euro in 2023, stopped in the first quarter of this year and maintained the base level that they reached in April in May.
According to the analysis including segments B, C, D and E for 15 years and up to 350 thousand kilometers, the average price, which was 734 thousand liras in October, reached 680 thousand liras in April and maintained the same level in May.
In Euro terms, the average second-hand vehicle price, which was 25 thousand Euros in the same period, dropped below 20 thousand Euros in April and remained at the same level in May.
VEHICLES ARE SOLD IN 40 DAYS
According to the report, the average stock retention period for B, C, D and E segment vehicles in second-hand cars was 40 days for passenger models last year, but it increased to 54 days in January and 57 days in May.
For commercial models, the average out-of-stock period, which was 34 days last year, was 44 days in January and 48 days in May.
VEHICLES THAT ARE 15 YEARS OLD ARE WAITING FOR ANNOUNCEMENT FOR TWO MONTHS
Age and mileage factors affected the sales speed of second-hand cars. While the average time in stock for vehicles up to 5 years old was 47 days, the period for second-hand vehicles aged 5-10 years was up to 63 days. Vehicles aged 10-15 years changed hands in 60 days.
According to the market analysis including segments B, C, D and E, the average out-of-stock period across the market was 57 days in May.
While second-hand vehicles in the 0-2 age group, which are an alternative to new vehicles, were sold in an average of 41 days, SUV vehicles in the same age group found buyers in 39 days.
The ‘Far Eastern SUV models’ that newly entered the market were sold in an average of 22 days.
