The number of sales in the second-hand online passenger and light commercial vehicle market in Turkiye was 187 thousand 229 in March, with a decrease of 1.27% compared to the same period of the previous year.
According to the data compiled by the AA reporter from Indicata’s second-hand online market report, 397 thousand 73 corporate advertisements were published in online media last month. 187 thousand 229 of these advertisements were sold. While there was a 10% increase in the number of advertisements compared to the same period last year, a decrease of 1.21% was recorded in the number of sales.
Looking at the first 3 months of this year, the number of advertisements increased by 2% with 17 thousand 932 units compared to the first 3 months of last year, while 60 thousand 371 more vehicles were sold in the first 3 months of this year with an increase of 13% compared to the same period last year.
Price developments in the automotive market
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 March, it was observed that retail prices in the second-hand online passenger and light commercial vehicle market increased by an average of 1.34% compared to the previous month and by 1.51% since the beginning of the year. The increase in wholesale prices was 2.40% in March and 6.92% since the beginning of the year.
1356 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 111 thousand 25 units.
Diesel cars were followed by gasoline cars with 68 thousand 569 sales and auto gas cars with 4 thousand 602 sales. The number of hybrid car sales was 1677, and the number of second-hand electric car sales was 1356. In March 2023, 592 second-hand electric cars were sold.
According to the report, 1 in every 2 vehicles sold in the second-hand online vehicle market is a diesel vehicle, with a rate of 59.3% in March and 59.1 percent in the first 3 months of the year, compared to the first quarter of last year, the share of diesel vehicle sales in total sales decreased by 6.6%.
Looking at the electric vehicle market, the share of these vehicles in total sales in the first quarter of 2024 was 0.7%, while the market share increased by 137.2% compared to the same period last year.
Average sales velocity 40 days
In March this year, there was a 2.3% increase in the sales of vehicles in the 0-5 age group, with 6 thousand 436 more sales compared to the previous month. Looking at the cumulative sales for the first 3 months of the year, 38% of the vehicles sold in the second-hand online market were vehicles 11 years old and over, with 206 thousand 712 units.
The average sales speed of vehicles in the second-hand online market last month was determined as 40 days. Toyota brand vehicles were sold 6 days faster than the market average, with an average sales speed of 34 days. BMW branded vehicles were the slowest selling vehicles with a sales rate of 50 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: AA / Prepared by Irem Yildiz