Record drop in used cars: this hasn't been seen in the last four years!
The wind was reversed in the used car. In the sector where prices and demand peaked last year, sales were cut like a knife, while record decreases were observed in the latest figures. After the sales, which recorded the worst decline in the last 4 years, prices started to decline rapidly.
After the trouble in the supply of new vehicles, especially with the effect of the coronavirus epidemic, second-hand vehicle prices recorded record increases last year, and some models rose up to almost 100 percent.
However, this wind that emerged on the side of the second-hand vehicle was reversed. Stagnation started to be experienced in the sector, especially with the foam emerging in the prices.
A RECORD DECREASE
Demands cut like knives were clearly reflected in the sales figures. The decline in the used vehicle market, which started in October 2020, reached record levels last month. In December 2020, there was a loss of over 53 percent in second-hand automobile sales.
NOT SEEN THAT FOR THE LAST 4 YEARS
Second-hand automobile sales, which fell below 350 thousand units in December to 349 thousand levels, decreased to the lowest number since September 2016.
REFLECTED THE PRICES
The sharp decline in the used car market was also reflected in the prices. Prices, which peaked last year, dropped between 10 and 15 percent compared to the vehicle, with the cut in demand, while the sellers give the message that the time is right for purchasing vehicles.
20 THOUSAND TL DOWN AT 200 THOUSAND TL
Speaking on the subject, Hayrettin Ertemel, President of the Istanbul Motor Vehicle Dealers Association (İMAS), attributed the stagnation in the used vehicle market to the increase in interest rates and the stock problem solved on the zero vehicle side, noting that the prices started to decline from November last year and reached 15 percent, He stated that a 200 thousand TL vehicle has decreased 20 thousand TL in the last two months.
RIGHT TIME FOR PURCHASE: PRICES WILL RECALL
Stating that they have accumulated stocks in their hands, it may take 3-5 months to melt away, Ertemel pointed out the month of June when the prices will start to recover with the acceleration of vaccination studies, and called for the citizens to hold their hands quickly.
Ertemel also warned that if the epidemic peaks again and the automobile factories are closed again, a scenario similar to the previous year may occur and the prices may rise again.
SOURCE: YENİ ŞAFAK