The boom in the new automotive market, which left its mark on 2023 due to the high interest in imported electric vehicles entering the country one after the other, slowed down relatively in the first quarter of this year due to saturation in demand and the influence of market conditions. As a result of the demand shifting to zero, the blood loss in the second-hand market, which became evident especially in the last quarter of last year, continued to increase.
According to the information announced by the Turkish Statistical Institute (TUIK), showing sales in the zero market “traffic registered” The number of cars reached 16,2 thousand 88 in March, an increase of 718 percent compared to the same month last year.
Making evaluations on the subject, Aydın Erkoç, Chairman of the Motor Vehicle Dealers Federation (MASFED), said, "The total number of new vehicles, including other types such as minibuses, buses, trucks, pickup trucks, motorcycles and tractors, increased by 18,2 percent and reached 226 thousand 617 units." . It was noted that as the months passed, the annual increase in cars and in total decreased to the lowest level in recent years. Traffic registrations increased by 39,2 percent for cars and 33,3 percent in total in January this year, compared to the same month last year, and by 63,8 percent for cars and 77,6 percent in total in February. "Comparatively, the increase in new vehicle sales slowed down significantly in March," he said.
Erkoç stated that the total number of new cars sold and registered in traffic in the January-March period increased by 36,3 percent compared to the same period last year, reaching 278 thousand 891, and the total number of vehicles increased by 37,5 percent, reaching 633 thousand 710 units, and said:
“The vitality in the new vehicle market remained dull in the first quarter compared to the same period last year. In the first quarter of last year, traffic registrations showed high increases of 62,3 percent for cars and 91,8 percent in total, compared to the same period of the previous year. In the January-March period this year, a total of 1.314 thousand 6 vehicles, 792 of which were cars, were deregistered and withdrawn from traffic. Thus, the total number of vehicles in traffic increased by 2 million 626 thousand 918 units in the first quarter.”
THE SECOND-HAND CAR MARKET LOST BLOOD
Erkoç said that the loss of blood in the second-hand vehicle market continues to increase and used the following words:
“In March, sales made through the notary department decreased by 21,3 percent in cars and 18,9 percent in total compared to the same month of the previous year. While 580 thousand 492 second-hand cars were processed on a monthly basis, the total number of vehicles changing hands was 865 thousand 144. Second-hand periods decreased by 18,1 percent in car sales and 15,1 percent in total in January compared to the same month of the previous year, and in February, they increased by 16,3 percent in car periods and 20,3 percent in total segments. Thus, in the January-March period, total car sales decreased by 10,3 percent to 1 billion 684 thousand 744 units compared to the same period last year, and the total number decreased by 7,3 percent to 2 million 495 thousand 594 units.”
