Attention those thinking of buying a car: Second-hand vehicle prices increased in November

VavaCars has announced the November results of its VavaAI Price Index, developed using artificial intelligence.

SECOND-HAND PRICES ROSE BY 2.5 PERCENT IN NOVEMBER

According to the report prepared by the company through the analysis of publicly available data, second-hand vehicle prices continued to rise in November, following increases in September and October. A 2.5 percent increase was recorded in second-hand car prices in November.

16.3 PERCENT INCREASE IN SECOND-HAND PRICES IN THE FIRST 11 MONTHS OF THE YEAR

When the change in second-hand vehicle prices is compared with inflation rates, according to Turkish Statistical Institute (TÜİK) data, inflation increased by 42.9 percent from the beginning of the year to the end of the 11th month. In the same period, second-hand vehicle prices showed a price increase of 16.3 percent.

In the statement, VavaCars Commercial Group President Serdıl Gözelekli noted that there has been an increase in second-hand vehicle prices throughout the autumn, stating that this situation strengthens the sector's growth expectations for 2025.

Noting that the exchange rate has increased by around 17 percent since the beginning of the year from an investment perspective, Gözelekli stated, "The increase in second-hand vehicle prices has also shown a situation parallel to these rates. We are currently in a period where demand in the second-hand market is strong and prices are high. Those who want to sell their vehicles can take advantage of this positive trend in the market to sell their vehicles at the best value of the year."

News Source: AA