Latest status on used cars: Time spent in listings has increased

VavaCars Commercial Group President Serdıl Gözelekli reported that the average time vehicles spent in listings, which was 35 days in August last year, reached 60 days in August this year, noting that color, age, and city also play a significant role in sales durations in the used car market.

According to the statement released by the company, VavaCars revealed data regarding the time used vehicles spend in listings as a result of a study conducted by analyzing publicly available data.

While the average time used vehicles spent in listings was 35 days in August 2023, this figure rose to 60 days in August of this year.

The analysis showed that in the summer months of 2024, hybrid vehicles were the used cars that spent the least amount of time in listings based on fuel type. Hybrid vehicles were followed by gasoline and then diesel vehicles. The study demonstrated that the age of the vehicles has a significant impact on the time spent in listings. In this context, while the time spent in listings for 8-year-old vehicles reached 62 days, the time for 1-year-old vehicles was 40 days.

GRAY VEHICLES REMAIN IN LISTINGS FOR THE SHORTEST TIME

According to the analysis conducted by VavaCars, white vehicles are the most common in listings. On the other hand, gray vehicles remain in listings for the shortest time with an average of 53 days, while black vehicles wait in listings for an average of 65 days.

According to the results of the analysis based on major cities, the longest time period for used vehicles to remain in listings is experienced in Istanbul. According to the study results, the average time used vehicles spend in listings is 60 days in Istanbul, 59 days in Antalya, 57 days in Izmir, 54 days in Ankara, 52 days in Bursa, and 50 days in Adana.

35 DAYS LAST YEAR, 60 DAYS THIS YEAR

In the statement, VavaCars Commercial Group President Serdıl Gözelekli, whose views were included, stated, "The average time spent in listings, which was 35 days in August last year, was 60 days in August this year. Furthermore, color, age, and city play an important role in sales durations in the used car market. For example, 1-year-old vehicles remain in listings for an average of 22 days less than 8-year-old vehicles."

Pointing out that one of the biggest reasons for used vehicles being sold later this year is the impact of reduced spending on demand, Gözelekli noted that they provide fast and reliable service that concludes within 1-3 hours, including free appraisal services for those who want to sell their vehicles.