Türkiye’s automotive production dropped significantly in August 2024, recording a 26.7% decline compared to the same period last year, according to the latest data from the Automotive Manufacturers Association (OSD).
Production fell to 53,502 units, down from 73,021 units in August 2023. The decline in car manufacturing was sharper, with production plummeting by 40.4% to 29,398 units in August 2024. In August 2023, car production had reached 49,300 units.
Slight growth in Turkish automotive market
Despite the drop in production, the overall automotive market in Türkiye showed a slight growth in August 2024.
- Total automotive sales increased by 0.4%, reaching 93,792 units, compared to 93,409 units in the same month last year.
- The car market also experienced a small rise of 0.2%, with sales climbing to 69,288 units from 69,131 units in August 2023.
Automotive exports see significant decline
Automotive exports were also hit hard, with a 17.3% decrease in August 2024.
- A total of 57,856 units were exported, down from 69,947 units in August 2023.
- The drop in car exports was even more pronounced, with a 37.3% decline. Only 31,522 cars were exported in August 2024, compared to 50,261 units during the same period last year.
- The value of automotive exports in August 2024 fell by 5.1%, amounting to $2.65 billion.
- Car exports, in particular, experienced a 32.4% drop in value, totaling $630.7 million.
- In euro terms, total automotive exports declined by 5.2% to 2.43 billion euros, while car exports dropped by 32.4% to 577.8 euros million.
Total automotive exports in January-August dropped by 3% year-on-year, amounting to 639,721 units. Car exports also fell by 3%, reaching 411,905 units.
Production declines over 8-month period
From January to August 2024, total automotive production decreased by 7% compared to the same period last year.
- The total output during this period was 877,152 units, while car production fell by 5%, totaling 571,575 units.
- The overall automotive market remained stable in the first eight months of 2024, with 792,256 units sold, comparable to the previous year. Car sales, however, saw a 3% increase, reaching 605,639 units.
Drop in commercial vehicle production and sales
Commercial vehicle production faced a decline in the January-August 2024 period.
- Total commercial vehicle production dropped by 11%, with light commercial vehicle output down by 10% and heavy commercial vehicle production declining by 21%.
- Sales of commercial vehicles also decreased, with total commercial vehicle market sales down by 9%, light commercial vehicles falling by 10%, and heavy commercial vehicles decreasing by 9%.
