Carmakers produce some 1.4 million vehicles

ISTANBUL

Carmakers produced a total of 1.35 million vehicles in January-November, up 11.5 percent from a year ago, data from the Automotive Manufacturers’ Association (OSD) have shown.

Passenger car production increased more than 22 percent to 876,000, while commercial vehicle production fell 4 percent year-on-year to 473,000.

The market expanded 61 percent compared with the January-November period of 2022, as 1.24 million vehicles were sold.

The sales of passenger cars leaped 69 percent to 928,000, OSD said.

The automotive industry’s export revenues amounted to $35.7 billion, marking a 14 percent increase from a year earlier, with passenger car exports rising 23 percent to $10.9 billion.

Carmakers shipped more than 1 million vehicles to foreign markets in the first 11 months of the year, pointing to a 4.3 percent year-on-year increase.

In November alone, carmakers’ output increased by 4 percent annually to around 139,000 vehicles, while passenger car production rose by 15.4 percent to some 97,000.

A report by the European Automobile Manufacturers’ Association (ACEA) showed that the year-on-year growth in car sales in Türkiye in the January- September period was well above the global average.

In the first nine months of 2023, new car registrations increased by 67.1 percent in Türkiye, while in the world it was 8.9 percent.

In Europe, car sales grew 20.4 percent to 11.4 million. In the U.S., 9.2 million cars were sold, marking a 15.5 percent increase. In China, car sales rose only 0.2 percent to 15.6 million, according to the report.

Globally, battery-electric car sales grew by 55 percent in the first three quarters of 2023, ACEA said, adding that the share of battery-electric models is expected to rise to 14.5 percent by the end of 2023.