Turkiye’s Auto and Light Commercial Vehicle Market Grows by 3.7% in First Half of 2024

Despite a Decline in Light Commercial Vehicle Sales, Overall Market Sees Growth Led by Increased Passenger Car Sales

In the first half of 2024, Turkiye’s automobile and light commercial vehicle market experienced a 3.7% increase compared to the same period last year, reaching a total of 577,981 units sold. According to January-June 2024 data, passenger car sales rose by 7.3% to 462,955 units, while the light commercial vehicle market saw an 8.7% decline, dropping to 115,026 units.

However, the market experienced a dip in June 2024, with sales decreasing by 5.3% compared to June 2023, totaling 106,238 units. Specifically, passenger car sales fell by 3.6% to 87,858 units, and light commercial vehicle sales declined by 12.6% to 18,380 units.

Despite these fluctuations, the 10-year average sales for June show significant growth, with the overall market increasing by 40% and the passenger car segment by 45.4%. Light commercial vehicle sales also saw an 18.9% rise compared to the 10-year average.

Market Segmentation Highlights

A, B, and C segments, which benefit from lower tax rates, dominated the market, making up 87.5% of total sales. The C segment led with 256,440 units sold, accounting for 55.4% of the market, followed by the B segment with 146,401 units and a 31.6% share.

SUVs were the most preferred body type, capturing 54.8% of the market with 253,667 units sold. Sedans followed with a 26.6% share (123,243 units), and hatchbacks (H/B) with 17.4% (80,760 units).

Fuel and Transmission Trends

Gasoline-powered vehicles led the market with 305,550 units sold, making up 66% of total sales. Hybrid vehicles accounted for 14% with 64,921 units, while diesel vehicles made up 10.8% with 50,064 units. Electric vehicle sales also showed strong growth, reaching 39,405 units and representing 8.5% of the market.

The sale of electric cars under 160 kW surged by 237.1%, securing a 7.2% market share, while those above 160 kW saw a 40% increase, accounting for 1.4% of sales.

Cars with engine capacities under 1600cc saw a slight decline of 3.8%, making up 76.7% of the market. Sales of vehicles with engine capacities between 1600-2000cc dropped by 3.6% to a 0.6% share, while those above 2000cc increased by 1.8%, capturing a 0.2% market share.

Vehicles with CO2 emissions between 100-120 g/km constituted 26.2% of sales (121,079 units), and those between 120-140 g/km accounted for 25.9% (119,908 units).

Automatic transmission cars dominated the market with 418,701 units sold, making up 90.4% of sales, while manual transmission cars accounted for 9.6% with 44,254 units sold.

Light Commercial Vehicle Preferences

In the light commercial vehicle segment, the van body type was the most popular, representing 71.1% of the market with 81,757 units sold. The pickup truck body type followed, making up 15.5% of sales with 17,838 units.

Source: Trthaber / Prepared by Irem Yildiz

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