Stagnation continues in the second-hand car market

In its "Automobile Market Outlook" report, prepared using data from sahibinden.com, the Bahçeşehir University Center for Economic and Social Research (BETAM) stated that while automobile demand in January did not change compared to the previous month, real prices continued to fall.

According to January data, although the automobile demand index remained stable compared to December 2024, it showed an 11.2 percent increase compared to the same period last year.

The "ratio of the number of cars sold to the number of listings for sale," which indicates activity in the automobile market, fell by 1.4 points compared to the previous month to 20.3 percent. This decline was caused by a 0.7 percent decrease in the number of listings and a 7 percent decrease in the number of cars sold.

THE DOWNWARD TREND IN PRICES CONTINUES

Real automobile prices have been on a downward trend for the last 19 months.

In January, the real price index fell by 2 percent compared to the previous month to 151.7. The change in real prices on an annual basis remains negative; the growth rate, which was 47.9 percent in May 2023, fell to 41.4 percent in June 2024 and reached 23.5 percent as of January 2025.

Average automobile prices rose from 908 thousand 588 liras in December 2024 to 935 thousand 136 liras in January 2025. On an annual basis, the average price increased by 8.7 percent. Demand, which increased during the July-October period last year, decreased to a limited extent in November and December and remained stable in January. The automobile demand index reached 109.4, an 11.2 percent increase compared to the same month last year.

The time that listings for sale remained active also increased. It extended by 0.9 days compared to December 2024, reaching 21.1 days. This situation was evaluated as another important indicator showing that the market has stagnated.

News Source: 12punto