Business

Turkiye: 1.8 million vehicles were sold in the second-hand online car market in 2022

While sales in the Turkish second-hand online passenger and light commercial vehicle market were recorded at the level of 1 million 811 thousand 498 last year, there was an average of 43% increase in second-hand vehicle prices.

According to the data compiled by AA correspondent from Indicata’s second-hand online market report, in the second-hand online passenger and light commercial vehicle market, where 1 million 652 thousand 710 units were sold in 2021, 1 million 811 thousand 498 units were sold in 2022. Thus, sales increased by 10% compared to 2021.

While 3 million 949 thousand 259 advertisements were published in the second-hand online market in 2022, 46% of the vehicles whose advertisements were published were sold. (Vehicles that have been completely removed from the ad are considered sold.)

According to the analysis made by examining the price changes of 110 thousand 215 advertisements in the 2010-2021 model years of 2 thousand 543 variants of 358 models of the first 32 brands with the highest sales in the second-hand online market, an average of 43% price increase was observed in the prices of second-hand vehicles in the online market.

Looking at the annual segment-based sales, the share of SUV segment vehicles increased by 11.17% compared to the previous year.

The share of automobiles in sales is 81%

When considered on a segment basis last year, the market leader was the C segment with a sales of 594 thousand 934 units and a share of 40.4%. The B segment ranked second with 329 thousand 069 units and a share of 22.4%, while the D segment ranked third with 221 thousand 328 units and a share of 15%.

The share of automobiles in total sales was 81%, and the share of light commercial vehicles was 19%.

Sales and prices increased last month

On the other hand, on a monthly basis, a total of 215,466 sales were made in the second-hand online passenger and light commercial vehicle market in December 2022.

December 2022 sales increased by 28% compared to November 2022. In December, an average of 4.21% price increase was observed in the second-hand online passenger and light commercial vehicle market compared to the previous month.

More than 450 thousand used vehicle data are analyzed daily

Indicata, a business intelligence kit that combines machine learning, artificial intelligence and big data, analyzes more than 450 thousand used vehicle data daily by scanning the used online vehicle market in Turkiye.

The sales data in the report is based on the advertisement data of 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 are made, such as Leaseplan, Intercity and Otokoc.

The figures do not include data on individual vehicle advertisements.

Institutions that trade second-hand on the online platform are withdrawing the advertisements of the vehicles they offer for two reasons. First, it revises the prices of the vehicles in the advertisement according to the changing market conditions and republishes the advertisement. Indicata also monitors when the aforementioned advertisements are re-published.

Secondly, the trading institution withdraws it from the ad because it has sold its broker, and publishes an ad for a broker that it will re-sell. This second group of vehicle listings, that is, vehicles that are completely removed from the listing, are considered “for sale”.

Source: AA / Translated by Irem Yildiz

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button