Sales in the used online vehicle market fell

According to Indicata's second-hand online market report, January 2022 sales in Turkey's second-hand online vehicle market decreased by 54.41 percent compared to December 2021 and reached 90,310 (when vehicles that have been completely removed from the advertisement are considered sold).

In January of last year, 103,398 sales were realized. Thus, a 13 percent decrease was seen in sales compared to January last year.

In January of this year, the share of passenger cars in second-hand online sales was determined as 80 percent and the share of light commercial vehicles as 20 percent. The number of vehicles announced in the second-hand online vehicle market last month increased by 13 percent compared to January 2021 with 302,883. 30 percent of the vehicles advertised have been sold.

Diesel preference continued

When Turkey's second-hand online vehicle market is evaluated by engine type, diesel cars had the highest share in January with 55,288 sales, or 61.2 percent. Diesel cars were followed by gasoline with 32,342 sales and a share of 35.8 percent, and auto gas cars with a sales of 1,168 and a share of 1.3 percent.

The share of hybrid cars was 1.4 percent with 1,307 sales, and the share of electric cars was 0.2 percent with 205 sales.

The C segment is in the first place

In January, the most C-segment vehicles were sold, with 28,717 units. After the C segment, the highest sales were realized in the B segment, with 15,210 units.

In January, vehicles over 11 and 17 years old had the highest share of sales in the second-hand online vehicle market, with 35.1%. Then, 1 and 4-year-old vehicles with a share of 34.2 percent and vehicles in the 5-10 age range with a share of 30.8 percent were listed.

Istanbul ranks first in sales

Looking at the provinces in January, the highest number of second-hand automotive sales was realized in Istanbul, with a share of 26 percent and 23,744 sales. Then, Ankara, with an 8 percent share, 7,440 sales, and İzmir, with 4,959 sales and a 5 percent share, were listed.

Prices fell 1.5 percent on a monthly basis

According to the analysis made by examining the price changes of 133,600 advertisements in the 2010-2021 model years of 2,543 variants belonging to 258 models of the first 32 brands with the highest sales in the second-hand market, the second-hand online vehicle market increased by 1.5 percent on average in January compared to the previous month. A price decrease was observed.

One of the sectors that was most affected by the Covid-19 pandemic, which affected the whole world, was the automotive industry. While the factories stopped production in the early periods, it caused a problem of availability, and users who could not find new vehicles turned to second-hand vehicles with the increase in demand for individual vehicle use during the pandemic period.

In the face of increasing demand, there was an increase in used vehicle prices in Turkey as well as in the rest of the world. In addition, the semiconductor (chip) crisis that emerged during the pandemic also caused disruptions in production and negatively affected the supply-demand balance.

Industry representatives state that the second-hand automotive market takes the prices of new vehicles as reference, that the decrease in new vehicle prices will also reflect on the second-hand market as a whole, and that the developments in the exchange rate affect the prices upwards. Experts predict that sales will start slowly, as in January of last year, but the second-hand automotive market will become active again as of the second quarter of the year.

More than 450 thousand used vehicle data are being examined

Indicata, a business intelligence kit that combines machine learning, artificial intelligence, and big data, analyzes more than 450 thousand used vehicle data points daily by scanning the used online vehicle market in Turkey.

While the sales data in the report are based on the advertisement data of more than 40 thousand second-hand traders and organizations in the online market, these data do not include data on individual vehicle advertisements. Institutions engaged in second-hand trade on the online platform are withdrawing the advertisements for the vehicles they offer. First, it revises the prices of the vehicles in the advertisement according to the changing market conditions and then publishes the advertisement again.

Indicata also monitors when these ads are re-published. Secondly, the trading institution withdraws from the ad because it has sold its broker and publishes an ad for a broker that it will re-sell. This second group of vehicle advertisements, that is, vehicles that are completely removed from the advertisement, are considered sales.