Published On: Wed, Feb 6th, 2019

Turkey’s automotive sector disappointed with sales in January 2019

Turkey’s automotive sector disappointed with sales in January 2019

To parallel the difficulties Turkey’s economy has been going through for a while, automotive sales in the domestic market have dropped down to critical levels to cause serious concern in the sector.

In fact, the Association of Automotive Distributors (ODD) has shared concerned data about the performance of the sector this month in compliance with its usual practice on monthly basis. Looking at the figures thus provided the picture does not seem to be very bright or promising as sales have drastically dropped as compared to past periods.

Cars and light commercial markets continue to decline rapidly. Despite expectations that market would start moving after duty and VAT cuts introduced by the government to increase sales again, the sector suffered a total disappointment.  In fact, a decline of 59 percent was observed in the market in January 2019 as compared to January 2018. The vehicle sales recorded in January 2019 was at 35,076. This year however this figure was recorded at 14,373 units only.

On the other hand, looking at car sales only we see the performance of the sector has declined again from 26,611 units to 10,979.

It is observed that C-class cars are preferred mostly and sales of automobiles under the 1600cc have decreased by 58.2 percent. In the report, it was also noted that 81.2 percent of automobile sales was made in A, B and C segments. The highest market share was C-segment sedan vehicles.

Looking at the total picture it would not be difficult to see that the sector is likely to experience a tough period in the coming months, and especially after the local elections in March 2019.

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