Turkish Second-Hand Online Auto Market Reached 35% Increase in February Sales

The number of sales in the second-hand online passenger and light commercial auto market in Turkiye reached 170 thousand 457 in February, an increase of 35% compared to the same period last year.

In February, 363 thousand 1 corporate advertisements were published on online media. 170 thousand 457 of these advertisements were sold. Compared to the same period last year, there was a 4% increase in the number of advertisements and a 35% increase in the number of sales.

According to the analysis made by examining the price changes of 364 thousand 881 advertisements for 249 models of the top 35 best-selling brands in the second-hand online passenger and light commercial vehicle market throughout the month, in February, it was observed that retail prices in the second-hand online passenger and light commercial vehicle market increased by an average of 0.23% compared to the previous month and by 0.17% since the beginning of the year. The increase in wholesale prices was 2.46% in February and 4.52% since the beginning of the year.

1196 second-hand electric cars were sold

When evaluated according to engine type, diesel vehicles were the most sold in the market in question last month with 100 thousand 265 units.

Diesel cars were followed by gasoline cars with 62 thousand 931 sales and auto gas cars with 4 thousand 517 sales. The number of hybrid car sales was 1548, and the number of second-hand electric car sales was 1196. In February 2023, 293 second-hand electric cars were sold.

According to the report, it was also observed that the sales share of diesel vehicles decreased by 7% compared to February of last year, while the sales share of electric vehicles increased by 201.8%.

Average sales speed was 45 days

In February this year, 38.3% of total sales were made up of vehicles 11 years old and over. There was a 3% increase in 0-5 year old vehicle sales compared to last month.

The average sales speed of vehicles in the second-hand online market last month was determined as 45 days, the same period as in January. Renault brand vehicles were sold faster than the market average, with an average sales speed of 37 days. BMW branded vehicles were the slowest selling vehicles with a sales rate of 63 days.

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, institutions and platforms such as Leaseplan, Intercity and Otokoc.

Individual vehicle advertisements are not included in the figures. Institutions engaged in second-hand trade on the online platform withdraw the advertisements of the vehicles they offer for sale for two reasons.

The first of these is to revise the vehicle price according to changing market conditions and republish the advertisement. Indicata also tracks when the announcements in question are published again. The second reason is sales. The company withdraws the advertisement because it has sold the vehicle. Vehicles that are completely removed from the ad are considered “sale”.

Source: Trthaber / Prepared by Irem Yildiz

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