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Second-Hand Success: Turkey Used Car Market Gears Up for 11.8% CAGR, Driven by Affordability and Innovation: Ken Research
Fueled by several key factors, the Turkish used car market is poised for a remarkable journey:
Ken Research provides a comprehensive market segmentation, allowing you to pinpoint your target audience:
The market features a diverse mix of players:
The Turkish used car market is expected to witness exciting developments:
While the market boasts significant potential, some roadblocks remain:
This report empowers various stakeholders to navigate the Turkish used car market:
The GCC is emerging as a prominent automotive hub for various car types, poised to grow at a CAGR of 6.4% from 2023 to 2028. Key growth drivers include a growing population, influx of expatriates, rising income levels, and easy financing options. Rising incomes enable consumers to consider a broader range of vehicles, contributing to market expansion.
UAE used car market to witness growth slowdown in 2023 due to improved conditions in the new car market related to semiconductor shortages. Reduced waiting periods for new cars shift consumer preference, but strong demand in the used car market persists, especially for mid-level cars.
Malaysia Used Car Market will expand at a CAGR of 8.5% between 2022 and 2027 owing to the rising middle class and online used car platforms The boom in the number of online auto-classified platforms and the traction of the consumers towards online platforms will contribute to the inclining used car sales in the country.
France used car market was valued at USD ~ Billion in 2021, and it is expected to reach a value of USD ~ billion by 2027, registering a CAGR of ~% during the forecast period (2022 - 2027). Amid the COVID-19 pandemic-associated lockdown, the demand for used cars witnessed a halt in sales for the first half of the year 2020. However, since the second half of the year 2020, the demand for used vehicles started to pick the pace and continued until 2021.
Ken Research Private Limited
Ankur Gupta , Director Strategy and Growth
+91-9015378249
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