Sales of used vehicles in Turkey, a new type of corona virus outbreak in 2020 due to the increase in public transport instead of private vehicles in use, has reached the highest figure in the last 5 years. Aydın Erkoç, president of the Federation of Motor Vehicle Dealers (MASFED), emphasized that prices fell due to stagnation in the used vehicle market. “We are at the right time to buy a car right now,” said Erkoç.
Aydın Erkoç, President of the Federation of Motor Vehicle Dealers (MASFED)He said the used vehicle market continued to grow last year despite all the negativities.
Erkoç said that while 8.7 million motor vehicles were delivered in 2019, this number increased to 9.2 million last year.
Aydın Erkoç noted that the figure was 7.7 million in 2018, 7.5 million in 2017, and 6.7 million in 2016.
Erkoç noted that sales in the used vehicle industry increased until October last year, but then there was a recession, noting that the number of vehicles delivered was cut in half in December 2020 compared to the same month of last year. Erkoç said: “The demand for second-hand vehicles has increased throughout 2020, both due to the inclination of the pandemic to the use of individual vehicles and the stagnation in the market for zero vehicles.
Thus, the sector continued to grow for 5 years. However, since October, there is a great stagnation in the used vehicle market. In December, a total of 544,583 vehicles, 64.2 percent of which were automobiles, changed hands. In the same month of the previous year, this figure was made at 1 million 22 thousand 892 and even the lowest sales of every month since 2016 were experienced in December 2020 ”.
“THE PRICES ARE CHEAPER”
Erkoç noted that prices have also dropped due to the stagnation of the used vehicle market, “There is a decrease of up to 15 percent in second-hand prices at the moment. Our citizens who want to buy a vehicle can take advantage of this opportunity, now we are at the right time to buy a vehicle. “
Erkoç affirmed that second-hand demand will also increase, which has been postponed with the widespread and standardization process of vaccination, and said:
“In addition, this serious drop in sales in December is an indication that potential buyers are also on hold. Starting in February, pending buyers will also take action, and the increased demand will also be reflected in the prices of the vehicles.
Since we cannot predict how the pandemic will progress, problems that may be experienced in the production and supply of new vehicles around the world will also be reflected in the prices of used vehicles. “
Erkoç added that they expect the used vehicle sector to continue growing in 2021 as well.
FILE: IS THERE A LOWER PRICE ON A SECOND HAND CAR?