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'Wait and See' Policy in the Used Automotive Market
"Wait and see" mode in the second-hand automotive market Market representatives noted that the market was stagnant in August
Yazar: James Gordon
Yayınlanma: 8 Ağustos 2022 05:45
Güncellenme: 5 Mayıs 2024 13:17
'Wait and See' Policy in the Used Automotive Market
'Wait-and-see' mode in the second-hand automotive market Market representatives noted that the market was stagnant in August and consumers switched to "wait-and-see" mode. It was stated that they did not expect a further decline in prices.
Otokoç Automotive Second Hand and Fleet Operations Director Birkan Çalışkan made important statements about the second hand automotive market. He stated that although the January-June period witnessed a period in which it was difficult to meet the demand in the second-hand market, a 32 percent growth was recorded in terms of business results compared to the previous year. Birkan Çalışkan made the following statements about the market: ''Since the return of Bayram, both the rise in loan interest rates and difficulties in creditworthiness and rising prices have caused a slight decline in consumer demand. As of the beginning of August, it is possible to say that we are facing a second-hand market in the same situation. Considering the slowdown that started in July and the similar demand in early August, it is now possible to say that this effect has disappeared. As a matter of fact, the increase in the number of advertisements, which is considered an important indicator, and the fact that the number of used vehicles currently on sale is 20 percent higher than it was even a month ago is an indication that a stock accumulation is beginning in the second-hand market. In the period from the beginning of July to the beginning of August, an average price decrease of 7 percent was observed in the market. In today's highly volatile economic conditions, it is not easy to make a prediction for the very near future. However, I am of the opinion that the stocks in the hands of the sellers, which have been built up due to previous high costs, will unfortunately not allow prices to fall too much. Although some downward price movements seem to be taking place in the coming period due to stock accumulation, I think that prices have the potential to go up again in the medium and long term due to the effects of the macro economy in general. The term 'adjustment' may be taken to mean 'an update in SCT thresholds rather than a reduction in SCT'. In the event that the authorities make such a bar level adjustment, depending on the update rate, some vehicles may fall into a lower SCT bracket, making the price more affordable to some extent.''İLGİLİ HABERLER
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