The economic difficulties experienced during the pandemic, the volatility in the exchange rate, the problems in new vehicle production and supply affect the second-hand automotive market closely, and second-hand vehicle prices are seeing high levels. Although prices have continued at a certain level with the fixation of exchange rates in the last period, there are stagnant days in the second-hand automotive market. The main reasons for this stagnation in Turkey are the expectation behavior of consumers, the thought that there will be a reduction in prices, and the expectation of new discounts and regulations such as the recent SCT regulation.
Turkey's leading used vehicle advertisement platform, Arabam.com, investigated the behavior of those who are considering buying a vehicle in Turkey. According to the results of the research carried out with the participation of 2 people in February, 520% of the participants are considering buying a vehicle. The data presented by Arabam.com, which shares statistics that will shed light on the automotive sector, show that the majority of Turkish people are not in a hurry to buy a vehicle and they expect a reduction in vehicle prices.
When asked when they want to buy a vehicle, 29% of respondents say they are in no rush. 18% of the participants say they plan to buy a vehicle within 1 month, 9,5% within 3 months, 27,2% within 2 weeks. 16,3% of the respondents state that it is not clear yet.
When consumers are asked why they are not in a hurry to buy a vehicle, 73% of consumers say they expect a reduction in vehicle prices. 13,5% of the participants stated that they could not find the vehicle they were looking for in the market, 10,8% of them stated that they saved to buy a vehicle, 2,7% of them stated that they did not rush to buy a vehicle because they used it during the holidays.
When consumers who are considering buying a vehicle are asked about their reasons, 42,5% of the consumers give the answer "because I have an urgent need". Since 20,8% of the consumers have sufficient savings, 20% of them want to buy a vehicle in the near future because it is difficult to find clean vehicles in the market day by day, 16,7% of them think that automobile prices will increase.
“SCT Regulation Did Not Meet Expectations”
When the participants were asked about their thoughts on the SCT regulation, 70,1% of the consumers stated that they did not meet their expectations. While 7,6% of the participants think that they meet the expectations, 22,3% think that such regulations should be increased.
When consumers are asked when they think the automotive market will move, 47,6% of consumers answer “when automobile prices come down”. 25,2% of consumers think that with the coming of the summer months, 15,2% of them think that when the chip crisis is resolved, 12,1% of them think that the automotive market will become active with the increase in demand as Ramadan Feast is approaching.
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