New vehicle sales fall, second-hand range abundant

Cem YILDIRIM/ANKARA

The President of the Federation of Motor Vehicle Dealers (MASFED), Aydın Erkoç, assessed the second-hand market in 2022 for Sözcü.

Recalling that the problems experienced in the supply of new vehicles in 2022 continued and there was a strong contraction especially in the second half of the year, Erkoç stated that there was a significant recovery in December and said that the total number of vehicles transferred in the market second-hand reached 6 million 396 thousand 191 units throughout the year.

Erkoc said:

764 thousand sales in December

“In the second-hand market, car sales reached a record high of 764,329 units in December, bringing total sales for the full year to 6,396,191.

In the last month of the year there has been notable dynamism both in the sales of new vehicles and in the turnover of the used market. It is necessary to improve credit conditions for the reactivation that began in December to continue.”

TOTAL TURNS ARE APPROXIMATELY 10 MILLION

Aydın Erkoç pointed out that the reactivated sales in December, both in other vehicles and in cars, increased the annual accumulated sales figures.

According to the information provided by Erkoç, the total number of second-hand motor vehicles, along with other vehicles, reached 9,563,925 units, an increase of 8.5 percent over the last year as a whole.

second hand in 2022; 1,564,826 vans, 771,856 motorcycles, 354,832 tractor-trailers, 226,382 trucks, 181,493 microbuses, 51,68 buses, and 17,277 special-purpose vehicles were transferred. Compared to the previous year, the largest increase was registered in motorcycles with 36.8 percent, while the sales of minibuses and buses remained almost the same compared to the previous year.

‘THE FACT NUMBERS ARE LOW, INTEREST RATES HIGH’

Erkoç said that the improvement in consumer confidence and the increase in purchasing power due to the increase in the minimum wage and the salaries of civil servants were effective in the reactivation of December. This atmosphere of optimism led the consumer to know their needs and make purchases.

“However, for this vitality to continue, it is necessary to improve the maturity and interest conditions of vehicle loans,” said Erkoç, “Currently, the maturity numbers are low and interest rates are high… Our citizens they have difficulties accessing bank loans. It is necessary to find permanent solutions in this regard”, he said.

Pointing out that there have been increases in vehicle prices from 2023 due to the problems experienced in the stock of new vehicles and cost increases, Erkoç recalled that the problem in the supply of new vehicles may continue and that price increases prices may continue with the increase in demand for second hand vehicles, he said they had to get their cars.