Car production increased by 12 percent in the first 10 months

The Automotive Industry Association (OSD) announced data for the first 10 months of 2023. Compared to the same period last year, total production increased by 12 percent and reached 1 million 210 thousand 342 units.

The Automotive Industry Association (OSD) announced production and export figures and market data for the period January-October 2023.

In this way, in the first 10 months of the year, total automobile production increased 12 percent compared to the same period of the previous year, reaching 1 million 210 thousand 342 units. Automobile production increased by 23 percent and reached 779,328 units. Including the production of tractors, total production reached 1 million 258 thousand 751 units.

In the first ten months of the year, commercial vehicle production decreased by 3 percent compared to the same period of the previous year, and in the light commercial vehicle group by 6 percent. In the heavy commercial vehicle group, production increased by 23 percent. During this period, the capacity utilization rate of the automotive industry was 73 percent.

The capacity utilization rates by vehicle group were 73 percent for light vehicles (cars + light commercial vehicles), 92 percent for the truck group, 53 percent for the bus-midibus group, and 76 percent in the tractor group.

INCREASE IN EXPORTS

In the first ten months of the year, automotive exports increased 7 percent in terms of units compared to the same period of the previous year, reaching 832,080 units. During this period, automobile exports increased by 21 percent compared to the same period last year, while commercial vehicle exports decreased by 12 percent. Tractor exports increased 3 percent compared to the same period in 2022, reaching 15,648 units.

According to data from the Turkish Exporters Assembly, total exports of the automotive industry maintained its first place in the sectoral export ranking with 14 percent in the first ten months of 2023. According to data from the Uludağ Exporters Association (UIB), total automobile exports in the first ten months increased by 16 percent compared to the same period in 2022, reaching $29.3 billion. In euro terms, it increased by 13 percent and reached 27.1 billion euros. During this period, exports from the main industry increased by 19 percent and exports from the supplier industry increased by 11 percent in dollar terms.

THE MARKET IS APPROACHING ONE MILLION

In the first ten months of 2023, the total market increased by 62 percent compared to the same period of the previous year, reaching 999,858 units. During this period, the car market also increased by 68 percent and reached 749,501 units.

Regarding the commercial vehicle market, in the first ten months of the year, there was a growth of 46 percent in the total commercial vehicle market, 24 percent in the heavy commercial vehicle market and 51 percent in the light commercial vehicle market, compared to the same period of the previous year.

In the period January-October 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, compared with the same period last year.