...

Renault top-selling car in secondhand market

Turkey Materials 20 May 2023 17:23
Hurriyet Daily News
Renault top-selling car in secondhand market

Renault was the top-selling brand in Türkiye’s secondhand market last year, according to data from Quick Finans SmartIQ.

In 2022, a total of 3.35 million vehicles changed hands, of which 542,000 were Renault brand cars. Volkswagen came second at 457,000, followed by Fiat at 321,000.

Some 249,000 Opel and 231,000 Ford brand cars were sold in the secondhand vehicle market last year.

Renault’s Clio model topped the list. Last year, 178,000 Clio model cars changed hands, while Fiat’s Egea ranked second at 171,000. It was followed by VW Passat at 153,000.

The pace of sales of secondhand cars in the first quarter of 2023 was slower than they were a year ago, the data showed.

In the January-March period of this year, a secondhand car offered by the maker is sold 38.7 days on average, up from 23.7 days in the same period of 2022.

In the E segment, a car was sold in 56.5 days on average in the first quarter of 2023, up from 26 days a year ago.

The data also showed that the price of secondhand cars in all segments rose by 42.3 percent in the Turkish Lira terms in 2022, while the increase in euro terms was 10.3 percent. In 2023, the increase was sharper. As of end-March, the prices rose by 80 percent in the lira terms and 36 percent in euro terms.

People from the industry say demand has been rising for secondhand cars in a market where the supply of new vehicles is tight.

Besides the availability problems, what drives the demand is people’s expectations that prices will go up in the coming months due to the perceived depreciation of the local currency, they say, adding that demand for secondhand cars has increased by 25 percent in the past two months.

Tags:
Latest

Latest