Automotive Industry Association announced the 10-month data of 2024. Compared to the same period last year, total production decreased by 7 percent and reached 1 million 122 thousand 567 units.
The official statement on this subject was as follows: “The Automotive Industry Association (OSD), which is the umbrella organization of the sector with its 13 members guiding the Turkish automotive industry, announced the production and export figures and market data for the January-October period of 2024. Accordingly, in the first 10 months of the year, total automotive production decreased by 7 percent compared to the same period of the previous year and reached 1 million 122 thousand 567 units. Automobile production decreased by 5 percent to 742 thousand 303 units. Including tractor production, total production reached 1 million 162 thousand 178 units. In the first ten months of the year, production in the commercial vehicle group decreased by 12 percent, in the heavy commercial vehicle group by 25 percent, and in the light commercial vehicle group by 10 percent compared to the same period of the previous year. During this period, the capacity utilization rate of the automotive industry was 69 percent. Capacity utilization rates on a vehicle group basis were 70 percent in light vehicles (cars + light commercial vehicles), 72 percent in the truck group, 51 percent in the bus-midibus group and 63 percent in the tractor.
YOU MAY BE INTERESTED IN
In the first ten months of the year, automotive exports followed a parallel course in terms of units compared to the same period of the previous year and amounted to 826 thousand 259 units. During this period, automobile exports decreased by 2 percent compared to the same period of the previous year, while commercial vehicle exports increased by 1 percent.
Tractor exports decreased by 24 percent compared to the same period in 2023, reaching 11 thousand 860 units. According to the data of the Turkish Exporters Assembly, total automotive industry exports maintained their first place in the sectoral export rankings with 16 percent in the first ten months of 2024, and reached the highest export value on a monthly basis with 3.6 billion dollars of exports in October.
According to Uludağ Exporters’ Associations (UIB) data, total automotive exports in the first 10-month period amounted to 30.2 billion dollars, an increase of 3 percent compared to the same period of 2023. In euro terms, exports increased by 2 percent and amounted to 27.7 billion euros. During this period, main industry exports increased by 5 percent in dollar terms, while supply industry exports increased by 2 percent.
In the first 10 months of 2024, the total market decreased by 2 percent compared to the same period of the previous year and amounted to 983 thousand 968 units. During this period, the automobile market remained parallel to the previous year and reached 750 thousand 935 units. Looking at the commercial vehicle market, in the first 10 months of the year, the total commercial vehicle market decreased by 7 percent, the heavy commercial vehicle market decreased by 10 percent, and the light commercial vehicle market decreased by 6 percent compared to the same period of the previous year. “In the January-October period of 2024, the share of domestic vehicles in automobile and light commercial vehicle sales was 29 percent.”