Used Car Prices Began To Increase

Prices started to increase in the used car industry
Prices started to increase in the used car industry

According to the data of, the only platform that publishes real sales data in the used car industry, second hand automobile prices have started to increase for the first time since November 2020.

Garenta and General Manager Emre Ayyıldız, evaluating the increment of prices in second-hand cars, said that the prices fell 20 percent in four months, and that the increase trend would continue with the arrival of spring and epidemic restrictions., the guide brand of the used vehicle industry, announced that the prices in the used vehicle market started to increase again. Noting that the decline in prices since November 2020 has stopped in March and that some models have experienced price increases, the brand said that we expected the price trend to stop since March, and the increasing trend in prices may continue.

January and February of 787.366 380 thousand second-hand cars and light Noting that commercial vehicles sold Emre Ayyýldýz, "Turkey's Statistics Institute (TUIK), in January, according to data from 109 thousand 407, while in February that 257 thousand 50adet second-hand cars and light commercial vehicles sold We see. When we compare it with the first two months of last year, we can say that there is a contraction close to 19 percent. The Covid-19 outbreak and, most importantly, the high course of loan rates are the main reasons for this contraction. With the arrival of the spring months, the flexibility applied in the restrictions within the scope of the Covid-XNUMX outbreak and the intensive vaccination program, we can say that the demand for automotive has started to occur again. "We think that an increase in sales will be achieved with the ease of access to finance for consumers."

Stating that they continue to break the routine in the used car market, Ayyıldız said, “With the dealership system we started in the last quarter of last year, we carried our power in digital to the physical sales environment. We started to serve with our dealers in Istanbul Sancaktepe Otostat and Gaziantep. We will continue to increase the number of our dealers this year and we aim to open 12 more dealers by continuing our investments until the end of the year. In addition, with the dealership system, those who want to sell their vehicle on can quickly value their vehicles through the artificial intelligence-based Carwizz application on the platform, sell their vehicles quickly to dealers and instantly convert their vehicles to cash ”., which has nearly 500 thousand members and sells about 135 thousand second-hand cars with its fully digital infrastructure, broke another first in the sector with its sell-by-use feature, which it launched last year. Thanks to the sell-while-use feature, those who want to sell their vehicle on platform continue to use 500 km more until their vehicles are sold.

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