Turkish Automotive Sector Broke a Record in the First 2023 Months of 10!
Automotive Industry Association (OSD) announced production, export and market data for the January-October period of 2023. According to OSD's report, the Turkish automotive industry reached record levels with a 12 percent increase in both production and exports during this period. Additionally, the total market recorded a growth of 62 percent, falling below 1 million units.
Turkish Automotive Production Exceeded 1 Million 200 Thousand Units
According to OSD's report, in the January-October period of 2023, the Turkish automotive industry produced a total of 1 million 210 thousand 342 vehicles. This figure means an increase of 12 percent compared to the same period of the previous year. Automobile production increased by 23 percent to 779 thousand 328 units. When tractor production is included, total production reached 1 million 258 thousand 751 units.
Commercial vehicle production decreased by 3 percent compared to the same period of the previous year, reaching 431 thousand 14 units. While there was a 6 percent decrease in the light commercial vehicle group, there was a 23 percent increase in the heavy commercial vehicle group. During this period, the capacity utilization rate of the automotive industry was recorded as 73 percent. Capacity utilization rates by vehicle groups were 73 percent for light vehicles, 92 percent for trucks, 53 percent for buses and midibuses, and 76 percent for tractors.
Turkish Automotive Exports Exceeded 29 Billion Dollars
According to OSD's report, in the January-October period of 2023, the Turkish automotive industry exported a total of 832 thousand 80 vehicles. This figure means an increase of 7 percent compared to the same period of the previous year. Automobile exports increased by 21 percent to 545 thousand 148 units. Commercial vehicle exports decreased by 12 percent to 286 thousand 932 units. Tractor exports also increased by 3 percent and reached 15 thousand 648 units.
According to the data of the Turkish Exporters Assembly (TİM), total automotive industry exports in the January-October period of 2023 increased by 14 percent and reached 29,3 billion dollars. This figure constituted 16,5 percent of Turkey's total exports. In euro terms, automotive industry exports increased by 13 percent and reached 27,1 billion euros. During this period, main industry exports increased by 19 percent and supply industry exports increased by 11 percent.
Turkish Automotive Market Approached 1 Million Units
According to OSD's report, in the January-October period of 2023, the Turkish automotive market increased by 62 percent compared to the same period of the previous year, reaching 999 thousand 858 units. This figure is 2017 percent lower than the same period of 2, which is the historical record of the Turkish automotive market. The automobile market increased by 68 percent to 749 thousand 501 units.
The commercial vehicle market increased by 46 percent compared to the same period of the previous year, reaching 250 thousand 357 units. The light commercial vehicle market increased by 51 percent to 200 thousand 487 units, and the heavy commercial vehicle market increased by 24 percent to 49 thousand 870 units. In the January-October period of 2023, the share of domestic vehicles in automobile sales was 32 percent, and the share of domestic vehicles in the light commercial vehicle market was 48 percent.
OSD announced its data for the January-October period of 2023. The Turkish automotive industry broke records in both production and exports during this period. Additionally, the total market approached 1 million units. OSD emphasized that in order to maintain the success of the Turkish automotive industry, policies that will protect and develop competitiveness must be implemented.