With the advent of the Ramadan Feast in second-hand automotive, the intensity experienced in many of the sectors was observed.
Ramadan Bayram created a dynamism in the second-hand automotive sector as well as in many other sectors.
It was stated that the mobility in the sector was due to the need for mobility that emerged before the holidays.
Birkan Çalışkan, Otokoç Automotive Second Hand and Fleet Operations Director, stated that the month of March was closed with the results of the second hand market, which reached the highest transaction volume in 2022.
“We are facing a month with high demand”
Stating that 2nd hand transactions were realized at the level of 762 thousand in March, Caliskan said, “While this momentum continues in April, we are faced with a month in which demand is high. In expected market conditions, the Ramadan period is generally the days when the activity in the market decreases. This situation makes its effects felt a little in the first periods of the month, but also the individual mobility needs of the users during the Eid period. Therefore, demand continues at a good level.” he said.
Noting that in the current period, beyond the need for individual mobility, the second-hand vehicle also has the quality of an investment argument for the consumer, Çalışkan said that this is one of the reasons affecting the increase in demand.
“Demand and transaction in the market increased by 9 percent”
Birkan Caliskan also evaluated the first quarter performance of the second hand market.
When looking at the first quarter of this year in general, Çalışkan stated that more sales transactions were made compared to last year. “We saw that 1 million 801 thousand 66 second-hand transactions were carried out in the first quarter of 2022, compared to 1 million 650 thousand 901 second-hand transactions in the first quarter of 2021. This shows that especially the demand and transactions in the market increased by 9 percent. In our estimation, more growth could have been caught, but the low level of vehicle availability slightly exceeded this target.” used the expressions.
Caliskan said that second-hand prices are mostly shaped by new vehicles, apart from the dynamics within themselves.
Stating that they have observed an 11 percent increase in second-hand prices due to new vehicle prices, especially since January, Çalışkan said:
“It will be an important argument to look at the predictions about the change in new vehicle prices in order to understand how this will progress in the upcoming period. The prices of vehicles produced both in our country and abroad seem to continue to increase with the effect of inflation affecting the whole world. In Europe, 7.8 percent. “Inflation, which has been announced as “inflation”, brings with it an increase in new vehicle prices due to the increase in production costs at its source. Naturally, we anticipate that the price of second-hand vehicles will continue to increase in the coming periods in the face of increasing new vehicle prices.”
“There was a considerable liveliness in other provinces of Anatolia as well”
Orhan Ülgür, Chairman of the 2plan Executive Board, also stated that the holiday activity in the second-hand automotive market makes people smile, “Especially in Istanbul, a measurable activity has been detected in the last two weeks compared to the general of Turkey, while there has been a considerable liveliness in other provinces of Anatolia.” said.
According to the news of AA, Ülgür said that there will be 35 percent more second-hand vehicle sales in April compared to the same period of the previous year. “When we look at the year 2022 in general, despite the first 3 months that we stated to be stagnant, there will be a 15 percent increase in total in the last 4 months compared to the same period of the previous year. In 2022, we are experiencing a good April in the second hand market. After the holiday, May is much better. It will be moving. This activity is promising.” made its assessment.
Ülgür noted that with the expectation of price increases after the feast and for the remaining months of the year, second-hand companies strengthened their stock structures and that price increases are expected to continue.
“We observe that the demand is rapidly shifting to second hand cars”
Otoshops General Manager Melih Mutlu stated that supply problems in the new vehicle market came to the fore due to factors such as the chip crisis and shipping problems last year, and the raw material problem was added to this with the Russia-Ukraine war. He said that he will turn to second-hand vehicles and this will lead to price increases.
Noting that with the rapid exchange rate decline at the end of 2021, a decrease of approximately 15 percent was observed in second-hand prices until last February, and a noticeable decrease was observed in the demand for second-hand vehicles, Mutlu said:
“We can say that the demand for second-hand vehicle sales will increase with the stabilization of exchange rates in the first quarter of 2022 after February, and the arrival of the pre-holiday and spring period. An increase in demand is generally observed in the automobile industry with the seasonal effect and the arrival of the holiday period. The availability of new vehicles is weaker than last year. “As we approach a period in which it will pass, we observe that the demand shifts rapidly to second hand cars. With the effect of this increase in demand, it can be said that the prices of second hand cars increased by 5 percent compared to March.”
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