Mobility Association

The profits of automotive companies listed on Borsa Istanbul plunged in the first nine months of 2024 even though vehicle sales remain robust.

Several factors, such as rising costs, a higher share of imported cars in the market and FX rates all eat into the auto companies' bottom line.

Türkiye's auto market contracted by 0.5 percent annually in January-November with 1.07 million passenger cars and light commercial vehicles sold.

The Turkish automotive market experienced a slowdown in October, with passenger car sales dropping by 8.4% year-on-year, according to data released by the Automotive Distributors' and Mobility Association (ODMD).

The combined sales of passenger cars and light commercial vehicles grew by 0.8 percent year-on-year in August to 90,134, according to data from the Automotive Distributors' and Mobility Association (ODMD) on Sept. 3.

The combined sales of passenger cars and light commercial vehicles declined for a fourth month in a row in July, data from the Automotive Distributors' and Mobility Association (ODMD) has shown.

The market contracted 17.5 percent year-on-year in July when a little more than 94,000 vehicles were sold.

The combined sales of passenger cars and light commercial vehicles declined by 22.3 percent in April from a year ago to around 76,000 units, the data from the Automotive Distributors' and Mobility Association (ODMD) showed on May 3.

The combined sales of passenger cars and light commercial vehicles increased by 30.6 percent in February from a year ago to a total of 106,000 vehicles, according to the data from the Automotive Distributors' and Mobility Association (ODMD).

With more than 60,000 electric vehicles sold this year and sales leaping nearly 870 percent, Türkiye is presently ranking eighth largest market for EVs in Europe.

President Recep Tayyip Erdoğan has said that they aim to make Türkiye one of the world's leading actors in electric vehicle and battery production.

The combined sales of passenger cars and light commercial vehicles (LCV) increased by 55.4 percent in October from a year ago to 101,367, data from the Automotive Distributors' and Mobility Association (ODMD) have shown.

In the previous month, sales were up 55.9 percent year-on-year to around 97,000 units.