As a first in the industry, OSS Association carried out a special study for the aftermarket renewal market. For the first time, the size of the aftermarket was revealed.
The statement made on this subject includes the following: given: “Automotive Aftermarket Products and Services Association (OSS) carried out a special study for the aftersales renewal market, a first in the sector. The Strategic Analysis of the Turkish Automotive Aftermarket Renewal Market, prepared by Frost & Sullivan for the OSS Association, examined the sector within the scope of passenger cars and light commercial vehicles. According to the report, issues such as the tendency to keep vehicles longer, the increase in light vehicles in the park, financial volatility and price inflation, low retention rate of specially skilled workforce, vehicle migration from urban to rural areas and business diversification (e-commerce, electrification and regular maintenance) stand out as the main trends affecting the aftermarket. The report determines that Turkey’s vehicle park consists of 4.24 million light commercial vehicles and 12.4 million passenger vehicles in 2018, and states that these figures will increase to 5.13 million light commercial vehicles and 15.53 million passenger vehicles by 2024. The 2023 revenue of the after-sales renewal market within the scope of passenger cars and light commercial vehicles was recorded as 6.466 billion dollars. According to the report, this size is expected to reach 7.877 billion dollars in 2028. When the heavy commercial vehicle group is added, the revenue of the aftermarket replacement market reaches 8.85 billion dollars by the end of 2023. “
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OSS Association President Ali Özçete made evaluations on the subject., “The biggest shortcoming of our sector was that the automotive after-sales sector, which is one of the leading sectors in Turkey and has an undeniable share in exports, has not been able to base the domestic market size and group breakdowns of the products in the market on official data until now. “Thanks to this market size analysis that we have finalized as OSS Association, we aimed to ensure that domestic investors can guide their sectoral decisions based on real data, and that foreign investors who plan to invest in our country are aware of the real potential of the Turkish market and, in a sense, are motivated for investment.” said.