Automotive Market Shrinks By 2% In April By 18% Since New Year's Day

Automotive Market Has Shrinked Percent Since New Year's Day in April
Automotive Market Shrinks By 2% In April By 18% Since New Year's Day

According to the data published by the Automotive Distributors Association (ODD), the automobile and light commercial vehicle market contracted by 2022% monthly in April 6,6, and decreased by 2,4% compared to the same month of the previous year to 60.035. Since the beginning of the year, the automotive and light commercial market has shrunk by 18% annually to 212.085.

In April 2022, domestic automobile and light commercial vehicle sales increased by 8,3% month-on-month and increased by 3,9% compared to the same month of the previous year, reaching 27.291 units. Since the beginning of the year, domestic automobile sales decreased by 17% annually to 90.693 units. While the sales of imported automobiles and light commercial vehicles decreased by 16,2% monthly, they decreased by 7,1% compared to the same month of the previous year and became 32.744. Since the beginning of the year, imported automobile sales have decreased by 19% compared to the same period of the previous year and reached 121.392. Thus, the domestic share in the vehicles sold in the total automobile market was 43% and the import share was 57%.

In April 2022, automobile sales decreased by 9,2% month on month and decreased by 5,8% compared to the same month of the previous year and became 45.564. Since the beginning of the year, the automobile market has decreased by 21% compared to the same period of the previous year and reached 162.398 units. While total light commercial vehicle sales increased by 2,7% monthly, it increased by 10,4% compared to the same month of the previous year and amounted to 14.471 units. Since the beginning of the year, the light commercial vehicle market has shrunk by 10% annually to 49.687.

In the details of our report, we analyzed the brand-based market shares, the relationships between automotive sales and macroeconomic parameters, and the correlation coefficients between them, by considering the automotive industry from various perspectives.

For the detailed version of our report, which also includes TurkStat Motor Vehicles Statistics, Automobile & Light Commercial Vehicle Production and Automotive Industry Foreign Trade Balance Click here.

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