12.02.2025 14:22
In January 2025, the new car market experienced a decrease of 13.9%, while the second-hand car market saw an increase of 9%. While electric vehicle prices have been fluctuating, vehicle owners over the age of 25 are hesitant to sell due to news about scrappage incentives.
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While the new car market contracted compared to January of last year, the second-hand car market started the year with an increase. In January 2025, the new car and light commercial vehicle market decreased by 13.9% compared to January 2024, reaching 68,654 units. It is believed that the main reason for this decline is the expectation that the exemption from ÖTV (Special Consumption Tax) for disabled vehicles, which caused a surge in sales in 2024, will be restricted with the new regulation. Despite the decline in the new car market, sales of vehicles up to 15 years old and 350,000 kilometers in the second-hand car market increased by 9% compared to the same month of the previous year, continuing a stable trend over many years. In parallel, the average time in stock decreased from 52 days to 51 days.
LOANS ARE INSUFFICIENT
While individual customers continued to evaluate the rapid rise in gold prices in January, they preferred promissory note systems and credit cards to overcome the very insufficient loan usage limitations based on vehicle value. According to the report, the total number of vehicles sold in the market increased by 9%, while this increase remained at 7% in the B-C-D-E segments. When examining SUVs alone, the increase rate reached 27%. Despite all these positive developments, sales showed a decline in all segments when compared to December, as in previous years.
SECOND-HAND MARKET STOCK HOLDING PERIODS REMAIN STABLE
While the stock holding periods in the second-hand vehicle market remained largely stable, some segments experienced changes. When comparing January 2024 and January 2025, the overall stock period in the market decreased from 52 days to 51 days, while it decreased from 54 days to 52 days for passenger cars. In commercial vehicles, however, the stock period increased from 44 days to 46 days.
SECOND-HAND ELECTRIC VEHICLE PRICES HAVE FLUCTUATED
Throughout 2024, second-hand electric vehicle prices exhibited a fluctuating trend. Prices, which started at 2.4 million TL at the beginning of the year, fell to around 2.2 million TL during the summer months. Prices showed signs of recovery in the last quarter, remaining around 2.3 million TL by the end of the year. The year 2025 started at the level of 2.4 million TL.
STOCK HOLDING PERIOD FOR SECOND-HAND ELECTRIC VEHICLES IS INCREASING
The stock holding period for second-hand electric vehicles has started to rise. The average stock period, which was 60 days in October 2024, remained at 59 days in November and December, while it increased to 64 days as of January 2025. During the same period, average prices showed an 8% increase, while the number of vehicles sold observed a 7% decline.
OWNERS OF VEHICLES OVER 25 YEARS OLD HAVE GONE INTO WAITING MODE DUE TO SCRAP INCENTIVE NEWS
In recent months, there has been a significant decrease in the sales share of vehicles over 25 years old due to news about scrap incentives. The market share of this segment, which was 11.72% in November, fell to 10.83% in December with a decrease of 7.59%. In January, it dropped to 10.75% with an additional decline of 0.74%. The data shows that vehicle owners are avoiding sales and starting to hold onto their vehicles.
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