Second-hand market is stable: Here is the average car price

The demand for second-hand cars remained stable in January. Real prices continued to decline in the car market. Meanwhile, the average car price increased from 908,558 liras to 935,136 liras. The January Car Market Outlook report was released by Bahçeşehir University Center for Economic and Social Research (BETAM) using data from Sahibinden. According to the report, the car demand index in January remained unchanged compared to December 2024 but increased by 11.2% compared to the same month last year. The ratio of sold cars to the number of listings, a key indicator of market activity in the car market, decreased by 1.4 points to 20.3% compared to the previous month. This decrease was due to a 0.7% decrease in listings and a 7% decrease in the number of cars sold. The “closed listing age,” which indicates how long car listings remain active, increased by 0.9 days to 21.1 days compared to December 2024. Real car prices, adjusted for inflation, have been on a downward trend for the past 19 months. In January, the real price index decreased by 2% to 151.7 compared to the previous month. While the annual change in real prices remains negative, the increase rate, which reached 47.9% in May 2023, has decreased in the following months and dropped to -41.4% in June 2024. It was noted that the annual decrease in real prices has slowed since that date, reaching -23.5% as of January 2025. The average car price was found to have increased compared to the previous month. The average car price, which was 908,588 liras in December 2024, increased to 935,136 liras in January 2025 with an annual increase of 8.7%.