Used car sales braked in March

According to the information compiled by the AA correspondent from the second-hand online market report prepared by the Automotive Distributors Association (ODD) based on INDICATA data, a total of 152 thousand 544 units were sold in the second-hand online car and light commercial vehicle market in Turkey in March.

Of these, 122 thousand 203 were passenger cars and 30 thousand 341 were light commercial vehicles. The share of passenger cars in sales was 80 percent and the share of light commercial vehicles was 20 percent.

There was a decrease of 8 percent in sales compared to the same period of the previous year and a decrease of 3 percent compared to last month.

93 percent of the advertised vehicles were sold

In March, the number of vehicles advertised in Turkey’s second-hand online market was 163 thousand 756. 93 percent of the advertised vehicles were sold.

Compared to the previous month, there was an increase of 2 percent in the ratio of advertised and sold vehicles (when the vehicles completely removed from the advertisement are considered sold) and an increase of 11 percent compared to the same period of the previous year.

On a segment basis, C segment vehicles were sold the most in the second-hand online market in March with a share of 42 percent and 51 thousand 344 units. Then B segment vehicles with 23.2 percent share, 28 thousand 374 units and D segment vehicles with 18.3 percent share and 22 thousand 381 units.

Compared to the same period last year, the share of the C segment decreased by 2 percent, while the share of the D segment increased by 3 percent.

While 10 thousand 302 vehicles were sold in the E and F segments representing the luxury class, the share of the segment in total sales was 8.4 percent.

Prices increased by 1.6 percent in March

When the price trend tables are analyzed in March, when analyzed independently of segments, used car prices in the online market increased by 1.6 percent in March compared to February.

In the 2nd hand online market, vehicle prices increased by 12.3 percent on average compared to December last year.

When sales are evaluated according to the age of the vehicles, 16-year-old vehicles had the highest share with 12.1 percent in the second-hand online market in March. This was followed by 4-year-old vehicles with 11.4 percent and 5-year-old vehicles with 9.5 percent.

It was noteworthy that 30 percent of the vehicles sold in the second-hand online market in March were 3.4 and 5-year-old vehicles, while 32 percent were 10 years old and above.

On the other hand, INDICATA’s Turkey office, which scans more than 8 million data per day in 12 countries, started its activities in 2016 and has been scanning millions of data in the Turkish used car online market for 4 years, providing instant analysis of all brands and models in Turkey to industry stakeholders (OEMs, authorized dealers, rental and leasing companies, banks, insurance companies, dealerships, financial institutions).

The price trend reported by INDICATA was prepared by monitoring the retail price movements of the advertisements of more than 40 thousand organizations engaged in the second-hand trade in Turkey on public websites.

Source: https://www.aa.com.tr/tr/ekonomi/ikinci-el-arac-satislari-martta-frene-basti/1799619

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