It has been announced how long will the prices of used cars fall?
- June 24, 2024
- 0
The new car market in Turkey is mixed. Both regulations and sales drop sign The fact that this is starting to show signs indicates that a serious contraction
The new car market in Turkey is mixed. Both regulations and sales drop sign The fact that this is starting to show signs indicates that a serious contraction will occur by the end of this year. However, Cardata General Manager Hüsamettin Yalçın said this was the right approach. it will not happen he proposed. According to Yalçın, the new car market will increase by the end of the year. will exceed 1 million.
According to Hüsamettin Yalçın, both the regulations from the European Union and the imposition of additional customs duties on cars coming from China will lead to a sales explosion in June. According to the Cardata manager, even data for June 100-120 thousand sales will show. Hüsamettin Yalçın, “The campaigns became much more ambitious, especially in June. While 26 percent of vehicles sold on the market in June, i.e. one in four vehicles, were sold at a discount, the average discount was 6 percent.” said.
Hüsamettin Yalçın is also hopeful for the second-hand market
According to Hüsamettin Yalçın’s statement, the used car market will continue in 2024. more than 5 million will conclude with the sale. The Cardata manager’s statement on this subject reads as follows:
When the Ministry of Finance and Treasury cut back the credit taps and the Ministry of Commerce intervened in car prices, the supply of new vehicles increased and the dealers who stockpiled as an excuse for the 30 percent fluctuation in the exchange rate disappeared -hand prices also returned with 30 percent. This decline started at the beginning of summer last year. In the second-hand market, difficulties in obtaining credit and high interest rates have currently reduced demand. We expect some changes in the used car market in the second half of the year. We anticipate a second-hand recovery in the last quarter of the year, especially after September. Why the last quarter of the year? Because there are important sales campaigns at zero kilometers and this reduces the difference between the prices of second-hand vehicles. Therefore, the decline in used car prices continues until the last quarter of the year. Second-hand vehicles, whose prices have fallen even further since the last quarter of the year, could therefore become a point of attraction. On the other hand, the second-hand value of Chinese models, whose new kilometer prices have risen due to the addition, will also increase.
Campaigns will increase
Hüsamettin Yalçın also made a striking statement about the campaigns. Much of the second half of the year tell it will be lively Hüsamettin Yalçın said:
The second half of 2024 will be a period of intensive campaigns for zero kilometer vehicles. The additional tax decision, which was announced to be taken with the aim of encouraging investment in Turkey and the declining domestic share of the domestic market, will cause prices of Chinese brands, which have been selling vehicles at lower prices than their European competitors. Chinese brands also suppressed the prices of other brands with their pricing strategies. But this time European brands will also increase prices; Strategies and dynamics such as price and sales will change in the competition. Big and solid Chinese brands will not leave Turkey because of these regulations; They will try different sales, marketing and pricing strategies. However, things like investments/factories/production are not things that will happen overnight. As a result, we can expect competition in Turkey’s automotive industry to reform and market dynamics to change again in the second half of the year.
So, what are the best-selling new cars in Turkey?
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Source: Web Tekno
Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.
