20.05.2025 16:45
The automotive sector indicates that there has been increased activity in the used car market due to the summer season and the impact of the Eid al-Adha holiday. This year, the total volume of used car sales is expected to exceed 7 million units.
The President of the Motor Vehicle Dealers Federation (MASFED), Aydın Erkoç, stated that there has been a noticeable revival in the second-hand car market due to the upcoming summer season and the impact of the Sacrifice Feast, saying, "We anticipate that the total second-hand sales volume will exceed 7 million units by the end of the year." According to information compiled by AA reporter from the Turkish Statistical Institute data, second-hand car sales, which were 2 million 200 thousand 159 in the January-April period last year, increased by 3.26% to reach 2 million 271 thousand 873 in the same period this year.
Last month, 957 thousand 499 vehicles were transferred, of which 67.3% were cars. The province with the highest car sales during this period was Istanbul, with 163 thousand 281 sales. It was followed by Ankara with 84 thousand 427, Izmir with 39 thousand 83, Antalya with 28 thousand 110, and Bursa with 27 thousand 967.
"WE EXPECT DEMAND FOR SECOND-HAND CARS TO INCREASE EVEN FURTHER"
MASFED President Erkoç made an assessment regarding developments in the car market. Emphasizing that the expected activity in the second-hand car market has begun, Erkoç stated, "We expect demand to increase even further due to the upcoming summer season and the Sacrifice Feast." Noting that there has not been a significant price increase in the second-hand car sector for a long time, Erkoç said that the market's horizontal movement during this period has kept prices at a certain level. Erkoç pointed out that there has been an increase in prices for new vehicles due to exchange rates and cost increases, and made the following assessment: Developments regarding new vehicles have directed our citizens considering buying a car towards the more affordable second-hand market. There is a noticeable revival in the sector. The prices of new vehicles directly affect the demand for second-hand cars. We anticipate that the total second-hand sales volume will exceed 7 million units by the end of the year. Both the price advantage and the increasing mobility needs during the summer months will support demand. It is currently a favorable period in terms of prices for our citizens considering buying a car.
"ELECTRIC VEHICLES ARE CREATING A NEW MOMENTUM"
Erkoç emphasized that electric cars, which are becoming increasingly popular, have gained attractiveness among consumers due to fuel savings and tax advantages, stating: Electric vehicles are creating a new momentum in the second-hand market. Especially in metropolitan areas, the increasing demand for individual use is expanding the options for second-hand vehicles. Access to financing is also of great importance for accelerating the recovery in the sector. If there is a relaxation in credit interest rates, it will become easier to access cars. Facilitating access to credit and lowering interest rates is critical for our citizens to meet their car needs. With financial support, stability can be achieved on both the supply and demand sides in the market. The second-hand car market continues to offer opportunities for consumers with both price advantages and an expanding product range. Supportive steps are also important to maintain and strengthen this momentum.