In April, the secondhand online passenger and light commercial vehicle market in Türkiye witnessed a decline of around 10% compared to last year, resulting in a total of 172,450 units sold.
According to data collected by Anadolu Agency (AA) from Indicata's secondhand online market report, there were a total of 327,273 corporate advertisements published on online channels during the previous month.
Although there was a 1% increase in advertisements compared to April of the previous year, only 53% of the vehicles advertised (equating to 172,450 units) were sold.
Out of the total sales, 82% were automobiles, while light commercial vehicles accounted for the remaining 18%.
From January to April 2023, advertisements increased by 12%, with a 20% rise in sales compared to last year. Within the first four months, a total of 651,539 units were sold.
Meanwhile, according to the engine types, diesel automobiles held the largest market share with sales totaling 103,259 units last month.
Following closely behind were gasoline cars, which accounted for 62,339 sales, and auto gas cars with 2,247 units.
The sales of hybrid cars reached 3,886, while secondhand electric cars saw a total of 719 electric car sales. Comparatively, in April 2022, only 583 used electric cars were sold.
Furthermore, C-segment vehicles constituted 40% of last month's passenger cars. Notably, there was an increase of 25% in the share of SUV segment vehicle sales compared to the same period of the previous year.
Indicate, a comprehensive business intelligence tool that incorporates machine learning, artificial intelligence and big data, conducts a daily analysis of over 450,000 data points from the used online vehicle market in Türkiye.
The sales data provided in the report is derived from the advertisement data of more than 40,000 institutions and organizations involved in secondhand trade within the online market. These encompass prominent listing platforms such as Sahibinden, Arabam, Letgo and VavaCars, as well as corporate secondhand websites operated by OEMs, institutions and platforms facilitating high-volume sales, including Leaseplan, Intercity and Otokoç.
It's important to note that the figures presented do not include data from individual vehicle advertisements.
Institutions engaged in online secondhand trading have two primary reasons for withdrawing vehicle advertisements. Firstly, they often revise the prices of the vehicles in response to changing market conditions and republish the updated advertisements. Indicata diligently tracks these instances of republication.
Secondly, a trading institution may withdraw an ad when a vehicle is sold through a broker, publishing a new ad to market the same vehicle for resale. These secondhand vehicle listings, completely removed from the initial ad, are classified as "for sale," Daily Sabah reports.
