Decline continues in the second-hand car market: Sales fell by 13.47 percent in July

The downward momentum in the second-hand car market became more pronounced in July. According to a compilation by Webtekno, data shared by Emre Özpeynirci on X showed that second-hand car sales decreased by 13.47 percent compared to the same month last year, falling to 588 thousand 504 units.

It is stated that the high level of new vehicle prices and difficulties in accessing financing are also suppressing demand for second-hand vehicles. During the same period, light commercial vehicle sales fell by 10.17 percent to 144 thousand 90 units. Thus, the total contraction in the second-hand automotive market reached 12.84 percent in July.

THERE IS ALSO A DECLINE IN THE SEVEN-MONTH PERIOD

In the January-July period, second-hand car sales decreased by 2.79 percent compared to the same period last year, recorded at 4 million 41 thousand 614 units. The total second-hand market, which also includes light commercial vehicles, fell by 2.77 percent to 5 million 35 thousand 390 units.

In addition to the contraction in the market, the age distribution of the vehicles sold also drew attention. According to the data, one in every three cars sold in the second-hand market, or 32.71 percent, consisted of vehicles aged 16 years and older.

The share of cars aged 11 years and older in total sales rose to 54.45 percent. This picture revealed that, in addition to the decline in demand, consumers are having difficulty accessing younger vehicles and the second-hand vehicle fleet continues to age.

News Source: 12punto