The boom in the new automotive market, which left its mark on 2023 due to the high interest in imported electric vehicles entering the country one after another, slowed down relatively in the first quarter of this year due to saturation in demand and market conditions. As a result of the demand shifting to zero, the blood loss in the second-hand market, which became especially evident in the last quarter of last year, continued to increase.
According to the data announced by the Turkish Statistical Institute (TUIK), showing sales in the zero market “traffic registered” The number of automobiles reached 88 thousand 718 units in March, an increase of 16.2 percent compared to the same month of the previous year.
Making evaluations on the subject, Aydın Erkoç, Chairman of the Motor Vehicle Dealers Federation (MASFED), said, “The total number of new vehicles, including other types such as minibuses, buses, trucks, pickup trucks, motorcycles and tractors, increased by 18.2 percent to 226 thousand 617 units.” happened. It was noted that, month by month, the annual increase in automobiles and in total fell to the lowest level in recent years. Traffic registrations increased by 39.2 percent in automobiles and 33.3 percent in total in January this year compared to the same month of the previous year, and in February by 63.8 percent in automobiles and total turnovers increased by 77.6 percent. “Accordingly, the increase in new vehicle sales slowed down significantly in March,” he said.
Stating that the total number of new cars sold and registered in traffic in the January-March period reached 278 thousand 891, an increase of 36.3 percent compared to the same period of the previous year, and the total number of vehicles reached 633 thousand 710, an increase of 37.5 percent, Erkoç said:
”The vitality in the new vehicle market remained dull in the first quarter compared to the same period of the previous year. In the first quarter of last year, traffic registrations showed high increases of 62.3 percent in automobiles and 91.8 percent in total, compared to the same period of the previous year. This year, in the January-March period, a total of 6 thousand 792 vehicles, 1,314 of which were cars, were deregistered and withdrawn from traffic. Thus, the total number of vehicles in traffic increased by 2 million 626 thousand 918 units in the first quarter.
THE SECOND-HAND CAR MARKET LOST BLOOD
Erkoç said that the loss of blood in the second-hand vehicle market continues to increase and made the following statements:
