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Turkey second-hand car market faces stagnation
The second-hand vehicle market in Turkey is experiencing significant stagnation, particularly in regions like Van and Samsun. Market participants report low buyer interest, with many sellers unable to complete transactions. Several factors are driving this downturn, including aggressive promotional campaigns for new vehicles which divert demand away from the used market, and high interest rates that limit access to financing.
Economic volatility, specifically fluctuations in gold prices, is also impacting consumer behavior. Some sellers are opting to convert vehicle assets into gold, while potential buyers are delaying purchases to monitor precious metal trends. In local markets, demand has shifted toward more affordable options, specifically in the 700,000 to 800,000 TL range, as high-priced vehicles struggle to find buyers.
In the broader automotive sector, new vehicle sales saw a decline of 25.7% in July, prompting manufacturers to launch various credit and discount campaigns to clear inventory. Meanwhile, the electric vehicle segment is seeing increased focus on battery longevity and thermal management, with models from Tesla, BYD, and Togg being noted for their technological standing.
Entities
BYD · Cardata · Murat Özdemir · ODMD · Samsun · TOGG · Taner Dinç · Tesla · TÜİK · Van · Yasin Alış
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Buyer Taner Dinç is searching for a clean, low-mileage vehicle from the 2017-2020 model years within the 800,000 to 900,000 TL range. www.gazetebirlik.com · www.medyagazete.com · www.mersinhaber.com
- [● 3 SOURCES] Buyers are increasingly looking for gasoline-powered vehicles due to fuel costs. www.gazetebirlik.com · www.medyagazete.com · www.mersinhaber.com
- [● 3 SOURCES] The second-hand car market in Samsun is experiencing a period of stagnation. www.gazetebirlik.com · www.medyagazete.com · www.mersinhaber.com
- [● 3 SOURCES] Dealer Murat Özdemir claims available vehicles have high mileage, often around 300,000 km, while prices remain high relative to that usage. www.gazetebirlik.com · www.medyagazete.com · www.mersinhaber.com
- [● 3 SOURCES] Yasin Alış is attempting to sell a vehicle for 465,000 TL but is willing to accept a minimum of 450,000 TL. www.gazetebirlik.com · www.medyagazete.com · www.mersinhaber.com
- [● 3 SOURCES] The second-hand car market in Samsun holds its market every Saturday. www.gazetebirlik.com · www.medyagazete.com · www.mersinhaber.com