Gurugram, India, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The Turkey Used Car Auctions market is moderately fragmented with multiple dealers (both organized and unorganized) operating in the industry. Majority of the used cars are sourced from car-rental/ leasing companies & auctions. Direct buying from consumers or individual sellers is another major source.
   

Increase in demand for New Technology: Leveraging technologies such as Artificial Intelligence & Virtual Reality to enhance the digital experience for consumers by offering 360° interior & exterior view of the car, estimating car price online via uploaded images, analyzing consumer behavioral insights to show relevant ads according to interests & more. Vertical Platforms are giving buyers & sellers new ways to interact online and facilitate the buying decision by offering a plethora of options and focusing on user browsing experience.

Government Initiatives to Regulate Turkey Used Car Market: Regulations to Encounter the Increase in Prices of Used Car. According to the Regulation, Unauthorized secondhand vehicle dealers will now have to obtain the authorization certificate which will be valid for 5 years. Sales of more than three vehicles in one calendar year will be considered commercial activity and sanctions will be imposed on informal activities. The responsibility of giving information and following the rules will also be on the old owner of the vehicle.

Partnerships and Collaborations for future growth: Brand authorized/direct dealership agents as well as large multi-brand outlets can partner with cab aggregators operating in the country such as Uber, Careem Etc. Dealerships can collaborate with mid-size corporates & companies to offer additional discounts to people within that age bracket if they buy a car using the company’s referral. This collaboration will enable the dealership in generating higher number of leads through the companies, which can ultimately lead to better conversion rates and boost pre-owned car sales.

Analysts at Ken Research in their latest publication “Turkey Used Car Market Outlook to 2026F - Driven by Increase in New Car Prices, Government Initiatives and Surge in Online Used Car Platforms” by Ken Research observed that Used Car Market in Turkey is at a rebounding stage from the economic crisis after pandemic. The rising government policies and demand in used car industry, an increase in disposable income along with rising online platforms for used cars is expected to contribute to the market growth over the forecast period. The market is expected to grow at 11.8% CAGR during 2021-2026F owing to increase in prices of new cars, rise in demand for used cars and government initiatives.

Key Segments Covered in the report:-
Turkey Used Car Market
By Type of Market Structure  

By Type of Car

By Brand

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By Age of Vehicle

By Kms Driven

By Region

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Key Target Audience:-

Time Period Captured in the Report:-

Companies Covered:-
Leading companies

Major OEMs

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Turkey Used Car Market

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Australia Used Car Market Outlook to 2026F – Driven by the consumer shift to online platforms and supply chain issues for new vehicles with an increasing trend of upgrading vehicles

Australia Used Car market has grown at a steady growth rate over the past few years supported by increase in population in the country along with the rising trends of upgrading the cars within the period of 1-2 years. Growth of transactional marketplaces offering one-stop solutions to buyers & connecting dealers, financing and insurance companies are also driving the used car market in Australia. Australia used car market is moderately fragmented market with Toyota, fiord and Holden as the market leaders owing to the high market share on the basis of number of used cars sold; followed by other used car brands like Mazda, Mitsubishi, Nissan and Hyundai.

Egypt Used Car Market Outlook to 2026 – Driven by Shift in Consumer Demand along with Growth of Online Used Car Platforms and Availability of Financing Options

Over the forecast period 2022-2026F, the Egypt Used Car Market Revenue is further anticipated to increase showcasing a CAGR of 15.3%. The used Cars sales volume is expected to get doubled during this period with slight increase in price. More players and manufacturers are expected to enter into the used car market with unorganized sector remains to be dominant. Rising Millennials, Digital Transformation and collaborations among players with increase in demand of used cars will drive the Egypt used car market.

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