Wait-See Period in the Used Car Market

Wait-See Period in the Used Car Market
Wait-See Period in the Used Car Market
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Otomerkezi.net, one of the important players of the second hand, made enlightening statements about the stock problems in zero kilometer cars and the effects of sudden increases in the exchange rate on the second-hand vehicle market. Otomerkezi.net CEO Muhammed Ali Karakaş pointed out that only on 23 November 2021, an average of 30 thousand vehicle advertisements were removed from the advertisement platforms on the same day due to the rapid increase in foreign currency exchange rates. . The developments in the country's economy will also be the determining factor in the second hand. Currently, buyers and sellers follow a completely wait-and-see policy.” said. Talking about the spot zero kilometer second-hand vehicles, which are frequently on the agenda, Karakaş said, “Zero kilometer vehicles are sold at the dealership. Online advertisement platforms need to make an arrangement in order to abolish zero kilometer vehicle sales. Otherwise, the one with the most money, the one with the most cars, determines the price and the market, and the black market cannot be prevented.” he said.

Otomerkezi.net, one of the important players in Turkey's second-hand vehicle market, made comprehensive evaluations about the sectoral effects of the developments in the economy. It has been stated that the volatility seen in the exchange rate in recent days has also affected the second-hand vehicle market rapidly. In addition, important statements were made about zero kilometer vehicles that fell into the spotlight.

An atmosphere of uncertainty brings a wait-and-see policy

Otomerkezi.net CEO Muhammed Ali Karakaş stated that the exchange rate, which has become an important factor in the second-hand vehicle market, which has been on the agenda again in the last month, is directly reflected in the zero kilometer vehicle prices, “However, stock problems cause radical increases in the prices of almost all second-hand vehicles. On the other hand, only on November 23, 2021, an average of 30 thousand vehicles were announced on the same day with the rapid increase in foreign currency exchange rates. Many companies and vehicle owners that did not remove their advertisements increased their sales price by about 20 percent within a few hours, which means that there is no sales concern and they are put on hold. The developments in the country's economy will also be the determining factor in the second hand. Currently, buyers and sellers follow a completely wait-and-see policy.” said.

In the black market, “with money in his pocket” determines the market

Touching on the issue of "spot zero kilometer second-hand vehicle", which has been frequently featured in the press lately, Karakaş said, "What we want to draw attention to since the beginning of the pandemic is this; Zero kilometer vehicle is sold at the dealership. Online advertisement platforms need to make a regulation in order to abolish zero kilometer vehicle sales and not allow new advertisements. Otherwise, the one with the most money, the one with the most cars, determines the price and the market, this black market cannot be prevented. While no new vehicle can be found in any dealership today, the fact that we encounter more than 2 new vehicle advertisements on the advertisement platforms shows the seriousness of the situation.” made his comment.

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