The Second-Hand Market is Picking Up: Average Car Price Revealed

The second-hand car market is starting to get busier. While demand for cars increased in March, a trend of decreasing real prices continued. The average car price rose to 950,515 Turkish Lira. The demand for second-hand cars increased in March, while the trend of decreasing real prices continued. The results for March of the Automotive Market Outlook report prepared by Bahçeşehir University Center for Economic and Social Research (BETAM) and Sahibinden have been announced. MARKET IS REVIVING According to the report, the car demand index was observed to be 5.3% higher compared to the same month last year and 11.8% higher compared to the previous month. The ratio of sold cars to the number of car listings, which is monitored as an indicator of vitality in the car market, increased by 1.4 points in March compared to the previous month, reaching 21.3%. TIME TO SELL INCREASED The average age of closed car listings, which indicates how long the listings remained active, increased by 0.4 days compared to the previous month, reaching 21.3 days. REAL PRICES HAVE BEEN DECREASING FOR 21 MONTHS The series of decreases in the average real selling price of cars, adjusted for inflation, has been extended to 21 months. In March, the real price index decreased by 2.1% compared to February, reaching 147.2. AVERAGE CAR PRICE Average car prices increased slightly compared to the previous month. The average car price, which was 947,152 Turkish Lira in February, rose to 950,515 Turkish Lira in March. The average car price increased by 10.6% compared to the previous year.