First 9 Months in the Automotive Sector: Imported Vehicles Declined, Domestic Sales Increased

Data for the first 9 months of the year in Turkey's automotive sector showed that, despite the general contraction in the domestic market, there was an increase in domestic vehicle sales. According to statements by OSD, imported automobile sales declined by 23 percent, while domestic automobile sales rose by 2 percent.

Automotive Production Data

In the January-September period, total automotive production decreased by 6 percent compared to the same period of last year, realizing at 971,159 units.

While automobile production fell by 17 percent to 528,366 units, total production including tractors reached 986,584 units.

Commercial Vehicle Production

In the first nine months of the year, commercial vehicle production recorded a 12 percent increase.

Light commercial vehicle production rose by 13 percent, and heavy commercial vehicle production increased by 7 percent.

Export Revenues

Automotive exports decreased by 11 percent in volume terms, dropping to 685,671 units.

Despite the drop in volume, the sector's total export revenue increased by 3 percent to 31.1 billion dollars, maintaining automotive's leadership.

Domestic Market and Sales

In the January-September period, the total automotive market contracted by 13 percent down to 832,521 units.

In the same period, imported automobile sales declined by 23 percent, whereas domestic automobile sales showed a 2 percent increase.

Future Expectations

OSD President Cengiz Eroldu stated that the newly introduced models will support production and exports.

It was expressed that SCT (Special Consumption Tax) and financing constraints played an effective role in the contraction of the domestic market.