NEWS Automotive        13/11/2023

Turkey’s total automotive production increases 18.6% in October 2023

According to figures presented in the Automotive Industrialists’ Association’s (OSD) monthly report for October 2023, total automotive production was 136,177 units in October 2023, 18.6% higher than the figure for the same month of the previous year. Of this total, car production was 91,511 units in October 2023, 46.7 higher than the figure for the same month of the previous year. Domestic demand remains high as Turks continue to seek investment opportunities as a hedge against surging inflation. This demand has had a beneficial effect both on local production and imports. Exports are also showing a significant improvement despite an over-valued Turkish lira. Should production figures remain strong, there is a possibility that total automotive production will reach 1,500,000 units and surpass the figure for 2019.

 

Total automotive production in the year of 2022 was 1,352,140, 6% higher than the 1,276,140 units of the previous year, but still some 20.2% less than the record figure of 1,695,731 units achieved in 2017. Total car production in the year 2022 was 810,889 units, up 3.6% on the figure of 782,835 units for the previous year.

 

Total automotive production was 1,276,140 units in the year 2021, 1,297,878 units in 2020, 1,461,244 units in 2019, 1,550,260 units in 2018, 1,695,731 units in 2017, 1,485,927 units in 2016, and 1,358,796 units in 2015. Total car production was 855,043 units in the year 2020, 982,642 units in 2019, 1,026,481 units in 2018, 1,142,906 units in 2017, 950,888 units in 2016, and 791,027 units in 2015. 2017 was a record year for automotive production in Turkey, but production fell 8.6% in 2018, 5.7% in 2019, 11.2% in 2020, and 1.7% in 2021, and only increased last year in 2022 by 6%.

 

In OSD’s report for October 2023, figures for production, sales, imports and exports are as follows :

 

**   Total production increased by 18.6% in October 2023 to 136,177 units compared with the same month of the previous year. Of this total, production of cars increased 46.7% to 91,511 units.

**   Total automotive sales increased by 52.2% in October 2023 to 105,145 units compared with the same month of the previous year.

**   Total automotive imports increased by 72.3% in October 2023 to 65,119 units compared with the same month of the previous year

**   Total automotive exports increased by 7.4% in October 2023 to 98,126 units compared with the same month of the previous year.

**   In USD terms, total automotive exports increased by 16.1% to USD 3,144.3 million, and car exports increased by 34.7% to USD 992.9 million in October 2023.

 

In OSD’s report for the first ten months of 2023, figures for production, sales, imports and exports are as follows :

 

**   Total production increased by 12.4% in the first ten months of 2023 to 1,210,342 units compared with the previous year. Of this total, production of cars increased 23% to 779,328 units.

**   Total automotive sales increased by 61.6% in the first ten months of 2023 to 999,858 units compared with the same period of the previous year.

**   Total automotive imports increased by 85.2% in the first ten months of 2023 to 633,018 units compared with the same period of the previous year.

**   Total automotive exports increased by 6.8% in the first ten months of 2023 to 832,080 units compared with the same period of the previous year.

**   In USD terms, total automotive exports increased by 15.5% to USD 29,294 million, and car exports increased by 24.7% to USD 8,904.5 million in the first ten months of 2023 compared with the same period of the previous year.               

 

Click here for full OSD monthly report for October 2023

 

 



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