3 out of every 10 vehicles advertised in the second-hand online auto market are sold in Turkiye

Sales in the Turkish second-hand online passenger and light commercial vehicle market increased by approximately 1% in August compared to the same month of the previous year, reaching 125 thousand 935 units.

According to the data compiled by the AA correspondent from Indicata’s second-hand online market report, 360 thousand 445 corporate advertisements were published in online media last month.

While there was an 18% increase in the number of advertisements compared to August last year, 35% of the vehicles in the advertisement, that is, 125 thousand 935, were sold. Sales increased about 1% compared to August last year. The share of automobiles in sales was determined as 82% and the share of light commercial vehicles was 18%.

When we look at the total figures for the 8 months of this year, there was a 5% increase in the number of advertisements and a 13% increase in the number of sales compared to the same period last year.

According to the analysis made by examining the price changes of 122 thousand 955 advertisements in the 2010-2022 model years of 2 thousand 23 variants of 253 models of the top 32 most sold brands in the second-hand online market, it was observed that retail prices in the second-hand online passenger and light commercial vehicle market in August 2023 increased by 0.82% compared to the previous month.

Second-hand electric car sales reached 606

When Turkiye’s second-hand online passenger car and light commercial market is evaluated according to engine type, diesel cars took the highest share last month with sales of 74 thousand 279 units.

Diesel cars were followed by gasoline cars with 45 thousand 143 sales and auto gas cars with 4 thousand 970 units.

The number of hybrid cars sold was 907, and second-hand electric car sales were 606. In August 2022, 220 second-hand electric cars were sold. Thus, second-hand electric car sales increased by 171% compared to August last year.

Additionally, 39.2% of passenger cars sold in August were C segment vehicles. Compared to August last year, it was observed that the share of sales of all SUV segment vehicles in total passenger vehicles increased. In the SUV segment, the share of B-SUV was recorded as 33%, the share of C-SUV was 12%, the share of D-SUV was 26% and the share of electric SUV was recorded as 17%.

More than 450 thousand second-hand vehicle data is analyzed daily

Indicata, a business intelligence set consisting of the combination of machine learning, artificial intelligence and big data, scans the second-hand online vehicle market in Turkiye and analyzes more than 450 thousand second-hand vehicle data daily.

The sales data in the report is based on the advertisement data placed by more than 40 thousand institutions and organizations engaged in second-hand trade in the online market. These include listing sites such as sahibinden, Arabam, Letgo and VavaCars, as well as corporate second-hand websites of OEMs, institutions and platforms where high volume sales occur, such as Leaseplan, Intercity and Otokoç.

The figures do not include data on individual vehicle advertisements.

Institutions engaged in second-hand trade on the online platform withdraw the advertisements of the vehicles they offer for sale for two reasons. First, it republishes the ad by revising the prices of the vehicles in the ad according to changing market conditions. Indicata also tracks when the announcements in question are published again.

Secondly, the trading institution withdraws the advertisement because it has sold its vehicle and publishes an advertisement for a vehicle that it will offer for sale again. This second group of vehicle advertisements, that is, vehicles that are completely removed from the advertisement, are considered “sales”.

Source: AA / Prepared by Irem Yildiz

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