Auto Sales Dropped by 2% in June Compared to May, Marking a 13% Decrease from Last Year
In Turkiye’s second-hand online passenger and light commercial vehicle market, sales experienced a notable decline in June. Compared to May, sales dropped by 2%, and compared to the same month last year, there was a significant 13% decrease. Last month saw 330,405 corporate listings on online platforms, reflecting a 20% decline from May but an 11% increase compared to June 2023.
Out of the listings published in June, 156,974 vehicles, or 48%, were sold. This represents a 2% decrease in sales from May and a 13% drop from the same month last year.
Market Trends and Price Developments
In the first half of the year, the number of listings increased by 8% and sales by 1% compared to the same period last year. An analysis of price changes for 352,619 listings of the top 35 brands’ 249 models revealed that retail prices in the second-hand online passenger and light commercial vehicle market fell by an average of 2% in June compared to the previous month, returning to the prices observed at the beginning of the year. Wholesale prices saw a sharper decline of 3.41% in June.
A breakdown of price changes by vehicle age shows that prices for vehicles aged 0-6 years increased by less than 1%, while prices for vehicles older than six years decreased by 0.35%.
Diesel Dominates, Electric Vehicles Gain Ground
In terms of engine type, diesel vehicles led the market with 91,797 units sold in June. This was followed by 58,266 petrol vehicles and 4,099 LPG vehicles. Hybrid vehicle sales reached 1,421, while 1,391 electric vehicles were sold, up from 1,077 electric vehicles in June 2023.
Diesel vehicles accounted for 59.2% of sales in June and 58.5% in the first half of the year, a 3% decrease from the same period last year. The electric vehicle market saw significant growth, with its share of total sales increasing by 88% compared to the same period last year, now representing 0.72% of total sales in the first half of 2024.
Sales Speed Insights
The average time to sell a vehicle in the second-hand online market in June was 51 days. Renault vehicles sold the fastest, averaging 42 days, which is nine days quicker than the market average. On the other hand, Mercedes-Benz vehicles were the slowest to sell, taking an average of 65 days.
Source: Trthaber / Prepared by Irem Yildiz