Turkey Used Car Market Growth, Trends, Size, Revenue, Scope, Challenges and Future Competition
Turkey Used Car Market Size- By Type of Market Structure, By Type of Car, By Brand, By Age of Vehicle, By Kms Driven- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jun-2023 | Report ID: AMIN2393 | Pages: 1 - 106 | Formats*: |
| Category : Automotive & Transportation | |||
Turkey Used Car Market Overview
According to SPER Market Research, the Turkey Used Car Market is estimated to reach USD XX billion by 2033 with a CAGR XX%.
Second-hand/used automobiles provide a sensible and cost-effective answer for people looking for dependable mobility without breaking the bank. Buying a used automobile offers a variety of manufacturers, models, and price points to meet a variety of demands and budgets. These previously owned vehicles have already depreciated, making them less expensive than new cars. Furthermore, the used automobile market provides a varied assortment, allowing customers to locate specific features, styles, or even antique models that are no longer available as new. Although rigorous research and inspections are essential, purchasing a used automobile can be a wise choice for people seeking quality, value, and the ability to customise their vehicle to their tastes.
Exploring the Growth Drivers of the Turkey Used Car Market
Turkey used car market is driven by several driving factors. For starters, the lira meltdown occurred more than a year ago, but the distortions it created are proving to be an unexpected buffer against inflation and declining interest rates in Turkey. Businesses dealing in new automobiles did not place enough new orders to replace inventories after exhausting their stocks since they did not know when the crisis would end. Turkey didn't have enough new automobiles to go around after interest rates began to decline and customer demand increased. Used cars accounted for 95% of all cars sold in Turkey in December. Despite rising vehicle prices for both new and used automobiles, Turks continue to prefer used vehicles. The reason for this is that new cars demand a larger initial investment and then lose value more quickly. Besides, the rise of online platforms and marketplaces for buying and selling used cars has made it more convenient for consumers to access a wide range of options. This increased accessibility has stimulated Turkey used car market growth.
What challenges does the Turkey Used Car Market face?
While the used car market in Turkey is thriving at a rapid pace, there are several challenges which are being faced by the market. The used car market can be opaque, raising questions about vehicle history, mileage accuracy, and general condition. This lack of transparency might undermine buyer-seller trust. Besides, Vehicles that are counterfeit or stolen offer a big difficulty in the market. Buyers should avoid purchasing from unauthorised sellers and should verify the vehicle's authenticity to prevent legal difficulties. Also, the Turkey used automobile market is fragmented, with numerous small-scale sellers operating independently. This fragmentation can make it difficult for customers to discover trustworthy sources, compare pricing, and evaluate car quality. Finally, Used car financing alternatives can be limited.
In what ways has the COVID-19 pandemic affected the Turkey Used Car Market?
The COVID-19 pandemic had a huge impact on Turkey's used car industry. Sales fell dramatically as a result of economic uncertainty and decreased consumer confidence. Manufacturing slowdowns and trade restrictions impacted new vehicle supply, limiting the availability of used cars. Dealership operations were impacted by lockdown protocols and social distancing protocols, resulting in a trend towards online sales and virtual showrooms. The pandemic also had an impact on pricing dynamics, as increasing demand for used cars and volatile economic situations drove up prices. The epidemic affected sales, supply, dealership operations, and pricing trends in general. However, when the situation stabilises and the economy recovers, the market is projected to rebound gradually.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type of Market Structure, By Type of Car, By Brand, By Age of Vehicle, By Kms Driven |
| Regions covered | Istanbul, Bursa, Adana, Ankara, Rest of the Turkey |
| Companies Covered | Araba.com, Arabam.com, Autorola Turkey, Borusan Araç, ikinciyeni.com, sahibinden.com, Vavacar.com |
Key Target Audience:
- First time Car Buyers
- Middle Class People
- Budget-Conscious Consumers
- Young Professionals & Students
Turkey Used Cars Market Segmentation:
1. By Type of Market Structure:
- Turkey Used Car Market Value Share and Forecast, By Type of Market Structure, 2023-2033
- Organised Channel
- Unorganised Channel
- OEM Certified Franchise Dealers
- Multi Brand Dealers
- DDSA
- C2C Transactions
- Local Dealerships
- Auction Companies
2. By Type of Car:
- Turkey Used Car Market Value Share and Forecast, By Type of Car, 2023-2033
- Sedan
- Hatchback
- SUV
- Van
- Crossover
3. By Brand:
- Turkey Used Car Market Value Share and Forecast, By Brand, 2023-2033
- Volkswagen
- Renault
- Ford
- Fiat
- Opel
- Hyundai
4. By Age of Vehicle:
- Turkey Used Car Market Value Share and Forecast, By Age Of Vehicle, 2023-2033
- 0-2 Years
- 2-4 Years
- 4-6 Years
- 6-8 Years
- 8-10 Years
- More than 10 Years
5. By Region:
- Istanbul
- Bursa
- Adana
- Ankara
- Rest of Turkey
Key Topics Covered in the Report:
- Turkey Used Cars Market Size (FY’2023-FY’2033)
- Overview of Turkey Used Cars Market
- Segmentation of Turkey Used Cars Market By Type of Market Structure (Organised Channel, Unorganised Channel, OEM Certified Franchise Dealers, Multi Brand Dealers, DDSA, C2C Transactions, Local Dealerships, Auction Companies)
- Segmentation of Turkey Used Cars Market By Type of Car (Sedan, Hatchback, SUV, Van, Crossover, Others)
- Segmentation of Turkey Used Cars Market By Brand (Volkswagen, Renault ,Ford ,Fiat ,Opel ,Hyundai ,Others)
- Segmentation of Turkey Used Cars Market By Age of Vehicle (0-2 Years, 2-4 Years, 4-6 Years, 6-8 Years, 10 Years, More than 10 Years)
- Segmentation of Turkey Used Cars Market By Kms Driven (0-40,000, 41,000-80,000, 81,000-1,00,000, 1,00,000-1,40,000, 1,20,000-1,80,000)
- Statistical Snap of Turkey Used Cars Market
- Growth Analysis of Turkey Used Cars Market
- Problems and Challenges in Turkey Used Cars Market
- Competitive Landscape in the Turkey Used Cars Market
- Impact of COVID-19 and Demonetization on Turkey Used Cars Market
- Details on Recent Investment in Turkey Used Cars Market
- Competitive Analysis of Turkey Used Cars Market
- Key Players in the Turkey Used Cars Market
- SWOT Analysis of Turkey Used Cars Market
- Turkey Used Cars Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Turkey Used Car Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Turkey Used Car Market Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Turkey Used Car Market
7. Turkey Used Car Market, By Type of Market Structure (USD Million)
7.1. Turkey Used Car Market Value Share and Forecast, By Type of Market Structure, 2023-20337.2. Organised Channel7.3. Unorganised Channel7.4. OEM Certified Franchise Dealers7.5. Multi Brand Dealers7.6. DDSA7.7. C2C Transactions7.8. Local Dealerships7.9. Auction Companies
8. Turkey Used Car Market, By Type of Car (USD Million)
8.1. Turkey Used Car Market Value Share and Forecast, By Type of Car, 2023-20338.2. Sedan8.3. Hatchback8.4. SUV8.5. Van8.6. Crossover8.7. Others
9. Turkey Used Car Market, By Brand (USD Million)
9.1. Turkey Used Car Market Value Share and Forecast, By Brand, 2023-20339.2. Volkswagen9.3. Renault9.4. Ford9.5. Fiat9.6. Opel9.7. Hyundai9.8. Others
10. Turkey Used Car Market, By Age of Vehicle (USD Million)
10.1. Turkey Used Car Market Value Share and Forecast, By Age Of Vehicle, 2023-203310.2. 0-2 Years10.3. 2-4 Years10.4. 4-6 Years10.5. 6-8 Years10.6. 8-10 Years10.7. More than 10 Years
11. Turkey Used Car Market, By Kms Driven (USD Million)
11.1. Turkey Used Car Market Value Share and Forecast, By Age Of Vehicle, 2023-203311.2. 0-40,00011.3. 41,000-80,00011.4. 81,000-1,00,00011.5. 1,00,000-1,40,00011.6. 1,20,000-1,80,000
12. Turkey Used Car Market Forecast, 2019-2033 (USD Million)
12.1. Turkey Used Car Market Size and Market Share
13. Turkey Used Car Market, By Type of Market Structure, 2019-2033 (USD Million)
13.1. Turkey Used Car Market Size and Market Share By Type of Market Structure (2019-2026)13.2. Turkey Used Car Market Size and Market Share By Type of Market Structure (2027-2033)
14. Turkey Used Car Market, By Type of Car, 2019-2033 (USD Million)
14.1. Turkey Used Car Market Size and Market Share By Type of Car (2019-2026)14.2. Turkey Used Car Market Size and Market Share By Type of Car (2027-2033)
15. Turkey Used Car Market, By Brand, 2019-2033 (USD Million)
15.1. Turkey Used Car Market Size and Market Share By Brand (2019-2026)15.2. Turkey Used Car Market Size and Market Share By Brand (2027-2033)
16. Turkey Used Car Market, By Age Of Vehicle, 2019-2033 (USD Million)
16.1. Turkey Used Car Market Size and Market Share By Age Of Vehicle (2019-2026)16.2. Turkey Used Car Market Size and Market Share By Age Of Vehicle (2027-2033)
17 Turkey Used Car Market, By Kms Driven, 2019-2033 (USD Million)
17.1. Turkey Used Car Market Size and Market Share By Kms Driven (2019-2026)17.2. Turkey Used Car Market Size and Market Share By Kms Driven (2027-2033)
18. Turkey Used Car Market, By Region, 2019-2033 (USD Million)
18.1. Turkey Used Car Market Size and Market Share by Region (2019-2026)18.2. Turkey Used Car Market Size and Market Share by Region (2027-2033)18.3. Istanbul18.4. Bursa18.5. Adana18.6. Ankara18.7. Rest of Turkey
19. Company Profile
19.1. Araba.com19.1.1. Company details19.1.2. Financial outlook19.1.3. Product summary19.1.4. Recent developments19.2. Arabam.com19.2.1. Company details19.2.2. Financial outlook19.2.3. Product summary19.2.4. Recent developments19.3. Autorola Turkey19.3.1. Company details19.3.2. Financial outlook19.3.3. Product summary19.3.4. Recent developments19.4. Borusan Arac19.4.1. Company details19.4.2. Financial outlook19.4.3. Product summary19.4.4. Recent developments19.5. Ikinciyeni.com19.5.1. Company details19.5.2. Financial outlook19.5.3. Product summary19.5.4. Recent developments19.6. Sahibinden.com19.6.1. Company details19.6.2. Financial outlook19.6.3. Product summary19.6.4. Recent developments19.7. Vavacar.com19.7.1. Company details19.7.2. Financial outlook19.7.3. Product summary19.7.4. Recent development19.8. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
The key players in the market include Companies Covered Araba.com, Arabam.com, Autorola Turkey, Borusan Araç, ikinciyeni.com, sahibinden.com, Vavacar.com
Turkey didn't have enough new automobiles to go around after interest rates began to decline and customer demand increased.
Turkey Used Cars Market is projected to reach USD XX billion by 2033, growing at a CAGR of XX% during the forecast period.
Turkey Used Cars Market grew in market size from 2023. The Market is expected to reach USD XX billion by 2033, at a CAGR of XX% during the forecast period.
Turkey Used Cars Market CAGR of XX% during the forecast period.
You can get the sample pages by clicking the link -Click Here
Turkey Used Cars Market size is USD XX billion from 2023 to 2033.
Turkey Used Cars Market Segment is Covered By Type of Market Structure, By Type of Car, By Brand, By Age of Vehicle, By Kms Driven
The Europe region is anticipated to have the highest market share in Turkey Used Cars Market.
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