Second hand demand will increase with normalization!

Second hand demand will increase with normalization!

22 February 2021 0 By administrator

Monday, February 22, 2021 – 16:15 | Last Updated: 22 02 2021 – 16:18

The reflection of the production of zero vehicles, which has been contracting again due to the pandemic, on the second hand, whose price has been declining for a while, is a matter of curiosity. With the openings, demand for the second hand is expected to increase.

Many models, whose prices will increase in 2021, are expected to increase to the next level of SCT. These can also bring some price increase for zero km vehicles. VavaCars CEO Lawrence Merritt said the following on the used market:
“We can expect the demand for these vehicles to shift to second-hand models due to the contraction in the production of new vehicles. When we look at production, we see that the production programs in producer countries such as Spain, France, Germany, Italy are limited, in addition, the problem experienced by chip manufacturers also negatively affected automotive production, producing countries only have the ability to deliver vehicles in the second half of the year. Therefore, we think we will see a period in which demand will be above the relative supply. Although the vehicle loan interest rate is high in the last period, the decline in automotive prices offers an important opportunity especially for those who are in cash or who will buy vehicles with a small amount of credit. It is seen that this period is advantageous for those who keep their savings in foreign currency and plan to buy a car. It seems more meaningful to return to the Turkish lira and purchase vehicles when vehicle prices are low. “

Demand turned to economics

Looking at the age in automobile sales, the share of models below 2010 increased from 49.57% between July and September to 52.18% in the October-December period, increasing the demand for economic models. Merritt said, “In this year, in which we did not slow down against all difficulties, we made a significant contribution to employment with our growth rates. “We will continue to increase the range of services and customer experience by developing the new concept that we introduced to vehicle purchase and sale in 2021.”