Demand for used cars surging, expected to pick up further
ISTANBUL
The used car market has been experiencing a strong demand in the past couple of months and this demand is expected to pick up further in the period ahead, according to representatives of the industry.
Consumers are turning to used cars due to a combination of several factors, but the primary reason is the elevated prices of brand-new vehicles, they said.
The used car market expanded by 25 percent year-on-year in April, with nearly 645,000 vehicles changing hands. This marked the highest figure since December 2023, when 673,000 vehicles were sold.
Passenger cars accounted for 67 percent of the total vehicles sold in the used car market.
In April, total auto sales, including passenger cars and light commercial vehicles, surged 38 percent annually to 105,352, according to the latest data from the Automotive Distributors’ and Mobility Association (OSMD).
In the first four months of 2025, used car sales rose by 3.3 percent from a year ago to 2.27 million, while the sales of brand-new vehicles increased 2.7 percent to 382,000 units.
The price increases in new cars, driven by exchange rate fluctuations and changes in the Special Consumption Tax (STC) applied to vehicles, have led more potential car buyers to turn to the second-hand market in April, according to experts.
Last month, auto distributors jacked up prices for brand-new cars between 4 to 8 percent, while prices of certain models were hiked by 30 percent due to the changes in the SCT. However, the price increase in used cars was only around 2 percent.
Brand-new vehicle prices directly had an impact on demand for second-hand cars, said Aydın Erkoç, president of the Motor Vehicle Dealers Federation (MASFED).
“We expect demand to increase even further with the approaching summer season and of Eid al-Adha. Both the more favorable prices of used cars and the increasing mobility needs during the summer months will support demand,” he explained.
Electric vehicles are also giving a boost to used car sales, he added.
By the end of the year, the total volume of used vehicle sales is projected to exceed 7 million units, according to Erkoç.
Second-hand vehicles, being more economical and considered as an investment, may see increasing demand throughout the remainder of the year, said Serdıl Gözelekli, from VavaCars, a leading used cars platform.
