VavaCars, one of Turkiye’s leading second-hand vehicle platforms, took the pulse of the industry by valuing approximately 3.5 million vehicles in 2023, when the second-hand vehicle market remained vibrant.
The second-hand car market continues to attract the attention of consumers with its dynamism and wide product range. Evaluations show that 2023 will be very productive for the second-hand automobile industry. In this context, VavaCars, one of Turkiye’s leading second-hand vehicle platforms, kept its finger on the pulse of the second-hand automobile market with a valuation of approximately 3.5 million vehicles throughout 2023.
The best-selling vehicle model in 2023 was Fiat Egea
The data shared by VavaCars for 2023 revealed trends in consumers’ preferences, the most preferred brands and models, and even interest in certain mileage ranges. These data showed that the second-hand car market is not only growing but also rapidly adapting to consumers’ expectations.
In the light of the data obtained through VavaCars’ online platform, the top 5 most valued brands were Renault, Volkswagen, Fiat, Opel and Hyundai. These most valued brands were also among the determinants of the market, accounting for more than half (51%) of total sales. Among both the most valued and best-selling models, Fiat Egea was again at the top, followed by Honda Civic, Renault Clio, Renault Megane and Volkswagen Polo, respectively. These 5 models constituted 28% of total vehicle sales.
88% of users preferred vehicles that are 9 years old and under
According to VavaCars data, 2020 and 2021 model vehicles were the model years with the highest second-hand valuation, followed by vehicles produced in 2017, 2016 and 2015, respectively. While the majority of valuations focused on young vehicles, 35% of them were those with up to 40 thousand kilometers and 88% were those with up to 120 thousand kilometers. This data showed that consumers continue to shift towards younger, less used vehicles. In parallel, 32% of the vehicles sold were vehicles with less than 40 thousand kilometers, and 92% were vehicles with less than 120 thousand kilometers. On the other hand, when looking at the price ranges, valuations and sales of vehicles between ₺500 thousand and ₺1 million came to the fore. The price range in question covered 89% of the total vehicles sold.
VavaCars’ evaluation for 2023 appears as an important indicator of the dynamism of the second-hand vehicle market and the change in consumers’ preferences. This year’s data also offers clues about the future momentum of the industry and which models may come to the fore.
Source: Egirisim / Prepared by Irem Yildiz