Digital Enablement And Rising Inflation Are Driving The Turkish Used Car Market – Ken Research
1. Social media plays a major role in generating sales of Turkey Used Car leads
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Car dealers use blogs to generate traffic to their website from search engine results pages. They often put-up educational content related to cars But the Increase in sales of vehicles in the country is further expected to increase lubricant demand by 2026. This platform is also used by individuals involved in C2C purchases. Also, major dealerships use this platform to announce promotional offers and local events.
2. Turkey’s used automobile market revenue has increased
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Used Cars accounted for 95% of all the cars sold in Turkey. Turks turned to used cars to hedge against the rampant inflation.
New Cars require a bigger initial investment and they lose value more rapidly.
Growth is further supported by manufacturers investments in expanding the network of used cars dealers, building the brand and enabling customers to choose this option.
3. Trends and Recent Developments in Turkey Used Car Market
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Turkish online used-car trading platforms are increasingly investing in both online and brick and mortal stores however COVID-19 has been a major boosting factor that has given a boost to the online used car market.
- There is an inclination of consumers towards peer-to-peer transactions.
- The online platforms as well as dealerships are looking to expand their presence online and plan to implement latest technologies.
- Due to expanding population abilities and employment in service-based industries, Turkey’s disposable income levels are rising. As a result, the number of people owning passenger cars is rising.
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