BETAM report: Increase in automobile sales

The "Automobile Market Outlook" report prepared by the Bahçeşehir University Center for Economic and Social Research (BETAM) has been shared.

According to the statement made by sahibinden.com, the "Automobile Market Outlook" report was prepared by examining August data.

Accordingly, it was observed that the automobile demand index was 5.9 percent higher compared to July and 22.6 percent higher compared to August of last year.

The "ratio of the number of automobiles sold to the number of listings for sale," which is monitored as an indicator of vitality in the automobile market, increased by 0.8 points to 20.3 percent. According to the details of this indicator, the number of listings decreased by 1 percent, while the number of automobiles sold increased by 3 percent. The "age of closed listings," which shows how long used car listings remain active and is used as another measure of vitality in the automobile market, shortened by 2.6 days compared to the previous month to 23 days.

When adjusted for inflation, it is seen that the average real automobile price has been falling for 14 months. The real price index decreased by 2.1 percent compared to July to 161.4. The annual rate of change in real prices also rose slightly in August to -37 percent.

The rate of change, which reached 47.9 percent in May 2023, decreased continuously in the following months and fell to -41.1 percent in July 2024.

AVERAGE AUTOMOBILE PRICES ROSE COMPARED TO THE PREVIOUS MONTH

Average automobile prices rose slightly compared to the previous month, with the average automobile price, which was 862 thousand 232 liras in July, becoming 865 thousand 433 liras in August.

The decline in the annual rate of change in automobile prices has stabilized. The average automobile price decreased by 4.2 percent compared to the previous year.

While the demand indicator showed a significant increase in July due to both the return from the holiday and the campaigns launched by automobile companies following the European Union's new regulations, this rise in the demand indicator continues to increase in August, albeit with less momentum.

AUTOMOBILE DEMAND INDEX IS ALSO RISING

It is seen that the automobile demand index is 5.9 percent higher in August compared to July, and 22.6 percent higher compared to the same month last year.

The ratio of the number of automobiles sold to the number of listings for sale was recorded as 20.3 percent, an increase of 0.8 points compared to the previous month. When the increase is examined, it is seen that the number of automobile listings for sale decreased by 1 percent, while the number of automobiles sold increased by 3 percent.

While it is noteworthy that the age of closed listings, which is another indicator of the vitality of the automobile market, has shortened contrary to the previous two months, according to August data, the age of closed listings shortened by 2.6 days compared to the previous month to 23 days.