Sales decreased in the used online car market

According to the data compiled by AA from Indicata’s second-hand online market report, 327 thousand 273 corporate ads were published on online channels last month.

While the number of advertisements increased by 1 percent compared to April last year, 53 percent of the vehicles in the advertisement, that is, 172 thousand 450 units, were sold. Sales are down nearly 10 percent compared to April last year. The share of automobiles in sales was 82 percent and the share of light commercial vehicles was determined as 18 percent.

In January-April 2023, there was a 12 percent increase in the number of advertisements and a 20 percent increase in the number of sales compared to the same period of the previous year. In the first 4 months, 651 thousand 539 units were sold.

According to the analysis made by examining the price changes of 2 thousand 23 variants of 253 models of the first 32 brands with the highest sales in the second-hand online market, 118 thousand 815 advertisements in the 2010-2022 model years, the retail prices in the second-hand online passenger and light commercial vehicle market increased in April. increased by 7.7 percent compared to the previous month.

Used electric car sales reached 719

When Turkey’s second-hand online passenger and light commercial market is evaluated according to engine type, diesel automobiles had the highest share in April 2023, with sales of 103 thousand 259 units.

Diesel cars were followed by gasoline cars with 62 thousand 339 sales and auto gas cars with 2 thousand 247 units.

The sales of hybrid cars were 3,886, and the sales of second-hand electric cars were 719. In April 2022, 583 used electric cars were sold.

In addition, 40 percent of the passenger cars sold last month were C-segment vehicles. Compared to the same period of the previous year, the share of SUV segment vehicle sales in total passenger vehicles increased by 25 percent.

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 Turkey.

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 such as Leaseplan, Intercity and Otokoç take place.

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 resell. This second group of vehicle listings, that is, vehicles that are completely removed from the listing, are considered “for sale”.

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