Used car market research company Indicata has released its data for July. The published data revealed that there is a very serious contraction in the second-hand market. So much so that second-hand vehicle sales were recorded as 102 thousand 806 units in July 2022. This sales figure was 45 percent lower than June 2022, 29 percent lower than July 2021, and 41 percent lower than the average of July for the last 3 years.
When we look at the data that accepts the ads that have been completely removed from the ad as sold, we see that only 36 percent of the cars that were advertised were sold. Passenger cars accounted for 81 percent of these, and light commercial vehicles for 19 percent. The number of second-hand vehicles announced last month was recorded as 284 thousand 87.
Although sales decreased, prices did not change!
According to data from Indicata, the decline in sales did not cause sellers to lower prices. The researchers, who examined 71 thousand 950 advertisements, determined that there was no significant price decrease. So what were the features of the cars that changed hands in July 2022? Let’s look at the details in the report together.
The most diesel cars were sold in July!
Research shows that the most popular cars in the past month are those with diesel engines. Because 62.2 percent of the vehicles sold last month, that is, 63 thousand 934 of them, were diesel powered. Diesel cars followed with gasoline vehicles with a share of 34.6 percent, that is, 35 thousand 590 units of sales. In July, when 1,541 hybrid cars were sold, only 149 electric cars were sold.
Citizens prefer new cars
Indicata research has revealed that citizens are interested in new cars. Because 35.1% of the sales of second-hand cars and light commercial vehicles consisted of models aged 0-4. In addition, 32 thousand 593 C segment cars were sold last month. This statistic reveals that the citizen continues to show interest in affordable vehicles due to low taxes. In addition to all this, let’s say that the cars sold are mostly in the range of 71 thousand to 90 thousand kilometers.
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