Auto sales rise more than 55 percent in October

ISTANBUL

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.

Last month, 82,611 passenger cars were sold in Türkiye, marking a 74.1 percent increase from a year ago, while the light commercial car market expanded 5.5 percent.

In the first 10 months of 2023, total vehicle sales stood at 958,942, rising 63.7 percent with passenger car sales increasing nearly 68 percent year-on-year to 749,501. The annual increase in LCV sales was 50.6 percent to more than 209,000.

In October, electric vehicle (EV) sales soared 1,014 percent compared with the same month of 2022 to 9,832, accounting for 12 percent of all sales.

From January to October, some 49,000 EVs were sold, pointing to an 890 percent year-on-year increase.

Meanwhile a top official said that Türkiye is on the radar of global companies which produce electric vehicles and batteries.

“There is strong interest from foreign companies in investments in EV and battery production…We are in talks with five companies,” said Burak Dağlıoğlu, head of the Turkish Presidency's Investment Office, declining to name those firms.

When reminded his earlier statement that Chinese carmaker Cherry was holding talks with relevant ministries for investment in Türkiye, Dağlıoğlu said that they had been holding roadshows in China since 2014.

“Visits between the two countries increased after the pandemic… We are in talks with other players and battery manufacturers for the mobility ecosystem,” he said.