Turkey Used Car Market Outlook to 2026F
Driven by Increase in New Car Prices, Government Initiatives and Surge in Online Used Car Platforms
Region:Europe
Author(s):Akansha Bhushan
Product Code:KR1270
December 2022
105
About the Report
The report provides a comprehensive analysis of the potential of Used Car industry in Turkey. The report covers an overview and genesis of the industry, market size in terms of number of used cars sold.
Its market segmentations include by type of Market Structure, by Type of Car, by Brand, by Age of vehicle, by kms Driven; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.
Market Overview:
According to Ken Research estimates, due to the impact of COVID-19, there has been a substantial decrease in the denominator (new car sales) while the numerator, i.e. The pre-owned car market, has been relatively stable. Turkey used car market is expected to grow at an 11.8% CAGR during 2021-2026F, driven by an increase in prices of new cars and government initiatives. The Turkish automotive industry had a foreign trade surplus of approximately $9.5 billion in 2021.
- In past 2 years, the average price of gasoline powered cars have more than doubled and gone up by 120% for diesel vehicles, which are more popular in Turkey.
- The Turkish automotive industry had a foreign trade surplus of approximately $9.5 billion in 2021.
Key Trends by Market Segment:
By Type of Market Structure (Organized and Unorganized Sector): The car sharing platforms are increasingly gaining prominence in Turkey as brands such as Yoyo and Zipcar continue to gain popularity among the millennial population.
Local dealerships are starting to offer more competitive services like repairs on used cars, leading to an increase in the number of units sold. Such Unorganised Local dealerships are clustered in large numbers on the outskirts of every major city and in urban areas. The participants in the C2C give strong preference to less-aged cars and popular brands with good resale value attracts more consumers.
By Age of Vehicle, 2021: Upper Middle/Middle-Income Families, Working Professionals, and other groups prefer used cars that are 8-10 years old, 2021. 2012 models came to the fore the most with a rate of 7.3%, followed by the 2017 and 2015 ones. Vehicles from the year 2000 and before constitute 14% of the entire market.
Competitive Landscape
Future Outlook
Scope of the Report
|
By Type of Market Structure |
Organized Channel Unorganized Channel OEM Certified Franchise Dealers Multi Brand Dealers DDSA C2C Transaction Local Dealership Auction Companies |
|
By Type Of Car |
Sedan Hatchback SUV Van Crossover Others |
|
By Brand |
Volkswagen Renault Ford Fiat Opel Hyundai Others |
|
By Age of Vehicle |
0-2 years 2-4 years 4-6 years 6-8 years 8-10 years More than 10 years |
|
By Kms Driven and Type of Fuel Engine |
0-40,000 41,000-80,000 81,000-1,00,000 1,00,000-1,40,000 1,20,000-1,80,000 |
|
By Region |
Istanbul Bursa Adana Ankara Others |
Products
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Used Car Dealers
- Used Car Equipment Manufacturers and Distributors
- Auto Portals
- Online Dealers
- Car Showrooms
- Unauthorized Dealers
- Market Research and Consulting Firms
- Automotive Companies
- Car manufacturing Companies
- Tourism Agencies
- Government Bodies & Regulating Authorities
Time Period Captured in the Report
- Historical Period: 2016-2021
- Base Period: 2021
- Forecast Period: 2021-2026F
Companies
Major Players Mentioned in the Report
Leading companies
- Borusan Araç
- Autorola Turkey
- ikinciyeni.com
- sahibinden.com
- Arabam.com
- Araba.com
- Vavacar.com
Major OEMs
- Toyota
- Ford Motors
- Volkswagen
- Fiat
- Isuzu
- Mercedes
- BMW
- Opel
- Honda
- Peugeot
- Renault
Table of Contents
1. Executive Summary
Turkey Used Car Market Executive Summary
2. Country Overview of Turkey
Country Demographics
Turkey Population Analysis
3. Turkey Automotive Market Overview
Automotive Clusters in Turkey
Landscape of Total number of Cars in Turkey, 2021
Export and Import of Cars in Turkey
4. Turkey Used Car Market Overview and Genesis
Ecosystem of Turkey Used car Market
Overview and Genesis of Turkey Used Car Market
Step- by-Step Sales Process of Used Car in Turkey
Value Chain Analysis of Turkey Used Car Market
Sourcing of Used Cars for Dealers and Lead generation in Turkey Used Car Market
5. Turkey Used Car Market Sizing, 2016-2021
New Car Sales in Turkey, 2016-2021
Turkey Used Car Market Sizing Analysis, 2016-2021
6. Turkey Used Car Market Segmentation
By Type of Market Structure, 2021
By Type of Organised and Unorganised, 2021
By Type of Car, 2021
By Brand, 2021
By Age of Vehicle, 2021
By Kilometres Driven, 2021
By Region, 2021
By Mode of Sale, 2021
7. Customer Profile of Used Car Market in Turkey
Customer Pain points in Used Car industry
Decision Making Parameters for Customers before Selecting a Used Car
Key Factors and Price Determinants Influencing Used Car Purchasing Decision
Findings on Consumer Analysis of Turkey Used Car Market
8. Snapshot on Online Classified Used Car Platforms in Turkey
Evolution of Used Car Platform in Turkey
Transactional Platforms in Used Car Industry in Turkey
Turkey Used Car Market Online Classified Business Model
Used Car Journey on Online Classified platforms in Turkey
Existing and Emerging Online Retails Models in Turkey Used Car Market
Market Sizing Analysis of Turkey Online Used Car Market, 2016-2021
Overview of Turkey Online Used Car Market, 2021
Cross Comparison of Major Online Auto-Classifieds
Key Parameters for Developing Digitally Oriented Business Model
9. Snapshot on Used Car Auction Market in Turkey
Ecosystem of Used Car Auction Players
Company Profile of Borusan
Cross Comparison of Major Used Car Auction Players
10.Turkey Used Car Industry Analysis
SWOT Analysis of Turkey Used Car Market
Trends and Recent Development's in Turkey Used Car Market
Issues and Challenges in Turkey Used Car Market
Buying and Selling Process of Used Car in Turkey
Government Initiatives to Regulate Turkey Used Car Market
Buying Criteria of the customers for Used Car in Turkey
Selling Criteria Used by the Players for Used Car in Turkey
11. Competition Framework for Turkey Used Car Market
Cross Comparison of Major Players in Turkey Used Car Market
12. Covid-19 Impact on Turkey Used Car Market
Impact of Covid-19 on Turkey Used Car Market
Prices of Used Cars During Covid-19 in Turkey
13. Outlook and Future Projections for Turkey Used Car Market
Future New Car Sales in Turkey, 2021-2026F
Turkey Used Car Future Market Sizing Analysis, 2021-2026F
Future Market Sizing Analysis of Turkey Online Used Car Market, 2021-2026F
Future Segmentation by Type of Market Structure, 2026F
Future Segmentation by Organized and Unorganized, 2026F
Future Segmentation by Type of Car, 2026F
Future Segmentation by Type of Brand, 2026F
Future Segmentation by kilometres driven, 2026F
Future Segmentation by Age of Vehicle, 2026F
Future Segmentation by region, 2026f
Future Segmentation by Mode of Sale, 2026F
Future Trends and Way Forward
14. Case Study Analysis
International Case Study – CarSwitch (UAE)
Operating model – CarSwitch (UAE)
International Case Study – CarsTrade (India)
Operating model – CarsTrade (India)
International Case Study – Cars24 (India)
Operating model – Cars24 (India)
15. Market Opportunity and Analyst Recommendations
Analyst’s Take on Future Market Positioning
16. Research Methodology
Market Definitions
Abbreviations
Market Sizing Approach
Consolidated Research Approach
Sample Size Inclusion
Limitation and Future Conclusions
Disclaimer
Contact Us
Research Methodology
Step 1: Identifying Key Variables:
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.
Step 2: Market Building:
Collating statistics on used car and new car over the years, penetration of car finance and down payment ratio to compute overall credit disbursed for cars. We will also review statistics to understand credit disbursed and outstanding amount which can ensure accuracy behind the data points shared.
Step 3: Validating and Finalizing:
Building market hypothesis and conducting CATIs with industry experts belonging to different companies to validate statistics and seek operational and financial information from company representatives.
Step 4: Research output:
Our team will approach multiple finance providing channels and understand nature of product segments and sales, consumer preference and other parameters, which will support us validate statistics derived through bottom to top approach from car finance providers.
Frequently Asked Questions
01 What is the Study Period of this Market Report?
The Turkey Used Car Market is covered from 2016–2026 in this report, including a forecast for 2021-2026.
02 What is the Future Growth Rate of the Turkey Used Car Market?
The Turkey Used Car Market is expected to witness a CAGR of ~11% over the next four years.
03 What are the Key Factors Driving the Turkey Used Car Market?
New Online Used Market and Rising Disposable Income is likely to fuel the growth in the Turkey Used Car Market.
04 Which is the Largest Car Type Segment within the Turkey Used Car Market?
The sedan car type segment held the largest share of the Turkey Used CarMarket in 2021.
05 Who are the Key Players in the Turkey Used Car Market?
Borusan Araç, Autorola Turkey, ikinciyeni.com, sahibinden.com, Arabam.com, Araba.com, Vavacar.com etc.
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