Executive Summary
Turkey used car market has experienced a rapid expansion in recent years, with passenger cars making up the majority of demand as compared to commercial vehicles. Used automobile sales during the pre-COVID period increased by 21.99% whereas country’s economy saw a sharp decline in employment and consumer spending after the virus outburst.
Turkey Automotive Industry plays a very important role in the manufacturing sector of the nation’s economy. Marmara Region is the main operating destination for the Turkish Automotive sector. Turkey is the 14th largest automotive industry in the world and 4th in the European Region with an average export rate.
The Turkey Used Car market was valued at Lira XXX billion in 2021 and it is expected to reach Lira XXX billion by 2027 registering a CAGR between 6%-9% in next five years. The market witnessed a positive growth during the year 2020 despite a significant decline in volume sold in 2021, market revenues have recorded XX% growth as a result of a steep rise in used car prices owing to rising inflation.
Gap in Demand-Supply Led to Rise in Price: The prices of used cars have become higher than the brand-new ones over the last few years. There was shortage of supply in the initial months of 2020 owing to excessive demand in the last quarter of 2019 as supplier’s failed to foresee the increased demand in the first quarter of 2019 and were not able to prepare for the first quarter of 2020 entailing the cascading effect, making the prices of used car higher comparing to the prices of brand-new ones.
Scope of the Study
The following synopsis is based on the report published by Makreo Research titled "Turkey Used Car Market and Future Forecast to 2027". The report delves deeply into various parameters such as market size, segmentation, value chain analysis, and effect analysis. The study includes market dynamics that provide an understanding of industry opportunities, driving forces, major challenges impeding growth, and an analysis of future opportunities that may help market players capitalise on untapped business potential in the specific geography.
Turkey Used Car Market Coverage
The report helps reader to gain information on following areas:
Table of Content
Report Synopsis
Industry Overview
Impact of COVID-19 over Turkey Economy
1. Research Methodology
Objective of the Study
Research Process
Data Collection Methods
Analytical Framework
2. Turkey Country Analysis– EPTD Analysis
Country Analysis- EPTD Analysis
EPTD Analysis : Economy Overview
EPTD Analysis: Political Overview
EPTD Analysis: Technological Overview
EPTD Analysis: Demographic Overview
3. Turkey Trade Performance
Turkey Trade Performance – Pre COVID-19 Scenario
Turkey Import/Exports – Key Stats
Turkey Trade Performance: Post Covid Scenario – Trade in 2020
Turkey Trade Performance: Post Covid Scenario
Turkey Automotive Sector Trade Performance: Post Covid Scenario – 2020
Turkey Automotive Sector Trade Performance: Post Covid Scenario – 2021
Turkey Automotive Sector Trade Statistics
4. Turkey Automobile Market Performance
Turkey Automobile Market – An Overview
Turkey Automobile Market – Key Facts
Turkey Automobile Market –Sales Facts
Turkey Automobile Production Facts
Turkey Automobile Demand and Supply Facts – Post COVID-19
5. Turkey Used Car Market Analysis and Future Forecast
Turkey Passenger Car Market - An Overview
Turkey Used Car Market – Key Facts
Turkey Used Car Market Performance
Turkey Used Car Market Performance – Before Virus Outbreak
Impact of COVID-19 over Automobile Industry
Impact of COVID-19 over Turkey Used Car Demand
Turkey Used Car Market Performance – Pre and Post COVID Demand Assessment
Turkey Used Car Market – Key Statistics
Inflation Vs Turkey Used Car Prices
Soaring Used Car Prices
Turkey Used Car Market Revenue and Forecast
Turkey Used Car Market Future Outlook
Emerging Technology Driving the Future Growth of Used Car in Turkey
Major Brands in Demand
6. Turkey Used Cars Market Dynamics
Industry Driving Forces
Industry Trends & Developments
Industry Challenges
7. Turkey Used Car Market – Macro-Economic Factors
Limitations of the Study