Economy in Turkey: Automotive sales increase by 40 percent
Total automotive sales in the first two months of the year reached 193,297 units, increasing by 40% compared to the same period of the previous year. The Automotive Manufacturers Association (OSD) announced production, export, and market data for the first two months of 2024.
Accordingly, total automotive production excluding tractors increased by 8% to 241,861 units compared to the same period of the previous year. Car production increased by 12% to 151,014 units.
Including tractor production, total production reached 250,886 units. While commercial vehicle production increased by 2% compared to the same period of the previous year, production in the heavy commercial vehicle group increased by 27%, and production in the light commercial vehicle group decreased by 1%.
During this period, the capacity utilization rate of the automotive industry was 74%. Capacity utilization rates by vehicle group were recorded at 74% for light vehicles (passenger cars + light commercial vehicles), 94% for trucks, 61% for buses-midibuses, and 72% for tractors.
EXPORTS REACH US$ 6 BILLION WITH 9 PERCENT INCREASE
In the first two months of the year, automotive exports increased by 4% in terms of units compared to the same period of the previous year, reaching 164,560 units. During this period, car exports increased by 3% compared to the same period of the previous year, and commercial vehicle exports increased by 6%. Tractor exports decreased by 8% compared to the same period of 2023, reaching 3,147 units.
According to the Turkish Exporters Assembly, total automotive industry exports maintained its top position in sectoral exports with a 14% share in the first two months of 2024.
