Used car market starts 2026 with a slump
In the first month of 2026, a noticeable slowdown occurred in the used car market. While significant declines in both demand and sales were observed, the downward trend in real prices continued.
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Entering the new year, economic uncertainty and the continued rise in gold prices have pushed those looking to buy cars to wait. Experts do not expect sharp price increases until demand recovers.
Data from the Bahçeşehir University Center for Economic and Social Research (BETAM) for January revealed that the market hit the brakes hard following the active period experienced at the end of 2025. In January, demand for used cars decreased by 4.5 percent compared to the previous month. During the same period, the number of sales listings fell by 7.6 percent. The number of vehicles sold saw a decrease of 18.2 percent compared to the previous month.
Although an increase was observed in nominal prices, the decline in inflation-adjusted, or real, prices continued. The average used vehicle price rose from 1 million 108 thousand liras to 1 million 149 thousand liras in January. However, when inflation is taken into account, the real decline in prices was seen to be at the 1.1 percent level. Experts interpret this picture as the car losing its appeal as an investment vehicle.
When viewed by fuel type, while a 20.5 percent price increase in gasoline-powered cars on an annual basis draws attention, the annual increase in electric vehicles remained at only 5.6 percent, trailing the general market rise. This result points to a differentiation in the price dynamics of electric vehicles.
In conclusion, economic conditions and changes in investor expectations stand out as the main reasons for the contraction in the market. Market representatives state that as long as sales do not recover, price increases in used vehicles will remain limited.