Total production of automobiles amounted to 151 thousand 14 units in the first two months of the year, an increase of 12% compared to the same period of the previous year.
Automotive Industry Association (OSD) announced production and export figures and market data for the first two months of 2024.
Accordingly, in the first two months of the year, total automotive production, excluding tractors, increased by 8% compared to the same period of the previous year, reaching 241 thousand 861 units. Automobile production increased by 12% 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% compared to the same period of the previous year, and production in the heavy commercial vehicle group increased by 27%, while production in the light commercial vehicle group decreased by 1%.
During this period, the capacity utilization rate of the automotive industry was 74%. Capacity utilization rates on a vehicle group basis were recorded at 74% for light vehicles (cars + light commercial vehicles), 94% for trucks, 61% for buses and midibuses, and 72% for tractors.
Exports increased by 9% to $6 billion
In the first two months of the year, automotive exports increased by 4% in terms of units compared to the same period last year, reaching 164 thousand 560 units. During this period, automobile exports increased by 3% and commercial vehicle exports increased by 6% compared to the same period of the previous year. Tractor exports decreased by 8% compared to the same period in 2023, reaching 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 14% share in the first two months of 2024.
According to Uludag Exporters’ Associations (UIB) data, total automotive exports in the first two months increased by 9% compared to the same period of 2023, reaching $6 billion. In euro terms, it increased by 8% to €5.5 billion. During this period, main industry exports increased by 10% and supply industry exports increased by 8% in dollar terms.
Domestic market exceeded 193 thousand units in the first two months
In the first two months of this year, the total market increased by 40% compared to the same period of the previous year, reaching 193 thousand 297 units.
During this period, the automobile market reached 146 thousand 318 units with an increase of 52%. When we look at the commercial vehicle market, in the first two months of the year, 11% growth was achieved in the heavy commercial vehicle market, 20% growth in the heavy commercial vehicle market and 10% growth in the light commercial vehicle market compared to the same period of the previous year.
In the first two months of 2024, the share of domestic vehicles in automobile sales and light commercial vehicle market was 33% compared to the same period last year.
Source: Trthaber / Prepared by Irem Yildiz