Automotive Market Expectations for 2024
Cardata, which operates in the field of automotive data and second-hand pricing, evaluated the zero-kilometer and second-hand market for 2024. Stating that the market increased by 5,3% in November, reaching 121 units, Cardata General Manager Husamettin YalcinHe stated that total sales increased to 11 million 1 thousand 68 units in the 260-month period.
Consumers Who Cannot Buy Housing Turn to Cars
Hüsamettin Yalçın emphasized that delayed demand and new model introductions keep consumer interest alive and said, “Consumers who want to protect their money against inflation but cannot buy a house or real estate continue to turn to new vehicles. In addition, brands’ year-end sales and credit-interest campaigns play an important role in increasing sales. The increase in purchases, especially by the fleet sector that wants to reach year-end targets, will make serious contributions to the total volume of the market and this situation may also increase December sales.”
160K Sales Expected in December
Yalçın stated that it would not be a surprise if sales reached 160 to 180 units in December, and said, “In this case, total sales in 2024 are expected to reach approximately 1 units, leaving behind last year’s record of 240 units. In light of all these dynamics, it is highly likely that the year will end with a new record.” Considering that car sales were 1 units in the last month of last year, it becomes clear that the estimates are quite high.
Record Expectations for Second-Hand Vehicle Sales
Emphasizing that the sales increase trend that started especially in the summer months in the second-hand car market will continue until the end of the year, Hüsamettin Yalçın said, “While consumers are turning to second-hand cars due to the increase in new car prices, increasing supply and competition are also revitalizing the market. A new record may come in the second-hand car market at the end of 2024. We expect total sales to exceed 7 million units and reach a new record level. We may see a strong closing in the second-hand market, especially in December, due to the activity in the new car market. With these dynamics, the increasing trend that has continued in the market throughout the year will continue unabated until the end of the year.”
