Local Turkey

Second-hand car prices are decreasing in Turkey’s auto market

In January of this year, sales in the second-hand online passenger and light commercial vehicle market in Turkey fell 28.49% compared to January 2020 and 10.50% compared to December 2020.

In the second-hand online passenger and light commercial vehicle market, sales decreased by 28.49% in January this year compared to the same month of the previous year and 10.50% compared to the previous month, while vehicle prices decreased by 1.4% on average compared to the previous month.

According to the data compiled by the AA correspondent from Indicata’s second-hand online market report, a total of 103,398 sales (when the vehicles removed from the advertisement are considered as sold) were realized in the second-hand online passenger and light commercial vehicle market in Turkey in January this year. In January last year, 144 thousand 600 vehicles were sold.

Vehicle for sale ads increased

Sales decreased by 28.49% compared to January 2020 and 10.50% compared to December 2020.

The number of vehicles announced in the second-hand online passenger and light commercial market in January was determined as 267 thousand 68, with an increase of 65% compared to the same month of the previous year. 39% of the vehicles announced were sold.

The most sales were in C segment

When considered on a segment basis, the leader of the market last month was the C segment with 33 thousand 734 sales and a share of 40.5%. After the C segment, the highest sales were recorded in the B segment with a 21.7% share and 18,45 units.

In this period, the share of passenger cars in second-hand online sales was 81%, and the share of light commercial vehicles was 19%.

In January, in the second-hand online passenger and light commercial vehicle market, mostly 4-year-old vehicles were sold with 10,308 units.

27% of the vehicles sold were 1-4 years old vehicles, 45% were 5-10 years old vehicles, and 28% were 11 and older vehicles.

The highest price decrease was determined in A and B-SUV segments

In the first month of this year, an average of 1.4% price decline was observed in the second-hand online passenger and light commercial vehicle market compared to the previous month, according to the analysis made through the advertisements.

According to the analysis made by examining the price changes in 70,580 ads in 15 different model years of 800 variants belonging to 200 models of the first 28 brands with the highest sales in the second-hand market, the highest price decrease was determined in the A and B-SUV segments.

Classified as “sale” when removed from the Internet

On the other hand, the business intelligence set consisting of the combination of machine learning, artificial intelligence, and big data analyzes more than 450 thousand used vehicle data daily by scanning the used online vehicle market in Indicata, Turkey.

While the sales data in the report are based on the advertisements posted on the online market by institutions and organizations engaged in second-hand trade, these data do not contain data on individual vehicle advertisements.

On the online platform, second-hand trading institutions withdraw the advertisements of the vehicles they offer for two reasons. First, they revise the prices of the vehicles in the advertisement according to the changing market conditions and publish the advertisement again. When these advertisements are published again, it is followed by Indicata.

Second, the trading institution withdraws from the advertisement because it sells the vehicle and publishes the advertisement of a vehicle that it will offer for resale. This second group of vehicle advertisements, that is, vehicles that are completely removed from the advertisement are considered as sales.

Source: AA / Translated by Irem Yildiz

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