In October 2023, the real decline in automobile prices continues.

Car Prices Continue to Decrease

sahibinden.com has published the October 2023 "Automobile Market Outlook" report prepared by the Bahçeşehir University Center for Economic and Social Research (BETAM).

The report analyzes the developments in the second-hand car market in detail for the month of October. This data reveals the advantages gained by buyers in their purchasing power. In October, real prices remained stable compared to the previous month, but showed a decrease of 8% compared to the same period last year. The average car price in October 2023 was determined to be 1,086,000 TL.

Price Mobility by Age Groups

The report illustrated that mobility remains in all segments in the price analysis by car age group. The average prices, according to different model years, were as follows:

• 2019 model: 1,407,000 TL
• 2020 model: 1,611,000 TL
• 2021 model: 1,616,000 TL
• 2022 model: 1,785,000 TL
• 2023 model: 1,943,000 TL
• 2024 model: decreased by 0.6% to 2,046,000 TL

Class-Based Price Changes

Moderate price increases were observed on a monthly and annual basis across all vehicle classes. The highest annual increase was in class B, with a rate of 26%, while the lowest increase was recorded in class E at 21.5%. The prices by vehicle classes are as follows:

• B class: 717,211 TL
• C class: 960,603 TL
• D class: 1,379,000 TL
• E class: 2,245,000 TL

Price Performance by Fuel Types

According to October 2023 data, the average prices for fuel types other than electric vehicles continued to rise. The prices of vehicles according to their fuel types are as follows:

• Gasoline vehicles: 1,335,000 TL
• Gasoline & LPG: 579,680 TL
• Diesel vehicles: 1,063,000 TL
• Hybrid vehicles: 2,434,000 TL
• Electric vehicles: 3,697,000 TL

The annual price change rates were observed as 20.9% for gasoline vehicles, 18.4% for diesel vehicles, 13.9% for hybrid vehicles, and 14.3% for electric vehicles.