Used Car Prices Continue Downward Trend in Turkey
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The Turkish automotive market continues to experience a decline in inflation-since-1982-in-the-united-states/” title=”7% price increase in 2021, highest … since 1982 in the United States”>used car prices, fueled by economic factors and shifting consumer behavior. Data analysis from January reveals a further decrease in vehicle advertisement prices, offering potential relief to budget-conscious buyers.
According to Rabam.com, a leading online automotive platform, the average price for advertised vehicles reached 695,831 Turkish Liras in January, representing a 4.9 percent drop compared to December. “The price decline we observed in 2023 continues in the first month of the year. We see that this decline is higher than December. purchase power, financing conditions, and market dynamics continue to be the determining factors on prices. We expect price movements to be shaped in line with economic indicators,” noted Oguzhan, Senior Manager at Rabam.com.
The analysis, which examined over 1.2 million advertisements, revealed insights into popular models and price segments.
Most Popular brands and Models
Fiat, Renault, Volkswagen, Ford, Opel, Hyundai, Peugeot, Toyota, BMW, and Citroen topped the list of frequently advertised brands. Among individual models, Clio, Megane, Egea, Astra, Corolla, Focus, Passat, Civic, Polo, and Corsa stood out.
Price breakdowns revealed that vehicles priced between 500,000 and 800,000 Turkish liras accounted for 26.8% of advertisements, followed by 38.3% for vehicles priced below 500,000 Turkish liras, 11.6% priced between 800,000 and 1,000,000 Turkish Liras, and 23.3% priced above 1,000,000 Turkish liras.
Age also plays a crucial role in determining advertisement prices. Vehicles aged 5 years and younger represented 25% of advertisements, with vehicles aged 6-9 years constituting 16.4%.Vehicles aged 10-15 and 16-20 years accounted for 28.1% and 13.8% respectively.
This downward trend in used car prices presents opportunities for consumers seeking affordable transportation. The ongoing decline could be attributed to a combination of factors, including: economic uncertainties, inflation, and increased consumer preference for newer, technologically advanced vehicles.
Moving forward, consumers should carefully analyze their budgetary constraints, research different models and financing options, and negotiate aggressively with sellers. Staying informed about market trends and economic indicators can further empower consumers to make well-informed purchasing decisions.
What advice would you give to consumers looking to buy a used car in this market?
Title: Navigating the Turkish Used Car Market: A Conversation with Emin Yıldırım, Automotive Industry Expert
Used Car Prices Continue Downward Trend in Turkey
With economic factors and shifting consumer behavior driving the market, used car prices in Turkey have been on a downward trend. archyde news recently caught up with Emin Yıldırım, an automotive industry expert, to discuss this trend and its implications for consumers.
Interview with Emin Yıldırım
Q: emin, the Turkish used car market has seen a continued decline in prices this year. Why do you think this trend is persisting?
“Economic uncertainties and increasing inflation are certainly playing a significant role. Consumers are looking for more affordable options, which is driving down prices. Additionally, ther’s a growing preference for newer, technologically advanced cars, encouraging sellers to reduce prices to attract buyers.”
Q: According to Rabam.com, the average price for advertised vehicles reached 695,831 Turkish Liras in January, with a 4.9% drop compared to December. How is this change affecting consumers?
“This represents an prospect for budget-conscious buyers. We’re seeing more options available at lower prices, which can definitely help consumers stretch their budget further.”
Q: What factors influence the prices of used cars apart from economic conditions?
“Brand, model, age, and mileage are crucial factors. Recent analysis shows that vehicles priced between 500,000 and 800,000 Turkish liras are the most frequently advertised, indicating a high demand for cars within that price range. Age also plays a significant role, with vehicles aged 5 years and younger commanding higher prices.”
Q: Which brands and models are currently trending in the Turkish used car market?
“Fiat, Renault, Volkswagen, Ford, Opel, Hyundai, Peugeot, toyota, BMW, and Citroën are among the most frequently advertised brands. As for models, it’s a mix of popular and reliable choices such as Clio, Megane, Egea, Astra, Corolla, Focus, Passat, Civic, Polo, and Corsa.”
Q: What advice would you give to consumers looking to buy a used car in this market?
“I’d recommend setting a realistic budget based on their financial situation. They should also research different models and their resale values, and consider financing options. Lastly, they should be ready to negotiate prices, as there’s room for movement given the current market conditions.”
Q: looking ahead, how do you expect the used car market in Turkey to evolve in the coming months?
“It’s challenging to predict with certainty, but I believe we’ll continue to see fluctuations tied to economic indicators. I encourage consumers to stay informed about market trends and adjust their expectations accordingly.”
We thank Emin Yıldırım for his insights into the Turkish used car market. For the latest news and analysis on the automotive industry, stay tuned to Archyde news.
