Automotive Industry Association (OSD), which is the umbrella organization of the sector with its 13 members guiding the Turkish automotive industry, announced production and export figures and market data for the first two months of 2024.
Automobile production increased by 12 percent to 151 thousand 14 units. Including tractor production, total production reached 250 thousand 886 units. In the first two months of the year, commercial vehicle production increased by 2 percent compared to the same period of the previous year, and production in the heavy commercial vehicle group increased by 27 percent, while production in the light commercial vehicle group decreased by 1 percent. During this period, the capacity utilization rate of the automotive industry was 74 percent. Capacity utilization rates on a vehicle group basis were 74 percent in light vehicles (cars + light commercial vehicles), 94 percent in the truck group, 61 percent in the bus-midibus group and 72 percent in the tractor.
EXPORTS REACHED 9 BILLION DOLLARS WITH AN INCREASE OF 6 PERCENT!
In the first two months of the year, automotive exports increased by 4 percent in terms of units compared to the same period of the previous year, reaching 164 thousand 560 units. In this period, automobile exports increased by 3 percent and commercial vehicle exports by 6 percent compared to the same period of the previous year. Tractor exports decreased by 2023 percent compared to the same period of 8 and amounted to 3 thousand 147 units. According to the data of the Turkish Exporters Assembly, total automotive industry exports maintained its top place in the sectoral export rankings with a share of 2024 percent in the first two months of 14. Uludağ Exporters' Associations According to (UIB) data, total automotive exports in the first two months increased by 2023 percent compared to the same period of 9, reaching 6 billion dollars. It increased by 8 percent in euro terms, reaching 5,5 billion euros. During this period, while main industry exports increased by 10 percent in dollar terms, the increase in supply industry exports was 8 percent.
DOMESTIC MARKET EXCEEDED 193 THOUSAND UNITS IN THE FIRST TWO MONTHS!
In January-February 2024, the total market increased by 40 percent compared to the same period of the previous year, reaching 193 thousand 297 units. During this period, the automobile market reached 52 thousand 146 units with an increase of 318 percent. When we look at the commercial vehicle market, in the first two months of the year, 11 percent growth was achieved in the heavy commercial vehicle market, 20 percent growth in the heavy commercial vehicle market, and 10 percent growth in the light commercial vehicle market compared to the same period of the previous year. In January-February 2024, the share of domestic vehicles in automobile sales and light commercial vehicle market was 33 percent compared to the same period last year.
