Local auto production plunges 10 percent in October: Data

ISTANBUL

The Turkish auto industry’s production declined by 10.4 percent year-on-year in October to 122,000 units, according to data from the Automotive Manufacturers’ Association (OSD).

Passenger car production fell 7 percent last month from a year ago to 85,115 units, the association said.

The auto market contracted 4.6 percent with 100,378 vehicles sold in October. Passenger car sales plunged 8.4 percent annually to around 76,000 units.

In the first 10 months of 2024, a total of 1.12 million vehicles were produced in Türkiye, marking a 7.3 percent year-on-year decline with passenger car output falling 4.8 percent to 742,303 units.

Carmakers’ light commercial vehicle output was down nearly 18 percent annually last month to 36,800, while the 10-month production dropped 12 percent to more than 380,000 units, showed OSD data.

Total vehicle sales were down 1.6 percent year-on-year to 983,968 units while the passenger car market expanded by 0.2 percent to 750,935 in January-September.

The share of imported passenger cars in the market was 70.3 percent, the OSD said.

The industry’s export revenues rose 3.1 percent year-on-year to $30.2 billion in the January-September period. Shipments of passenger cars to foreign markets generated $9 billion in export revenues for local carmakers, a 1.5 percent increase from a year ago.

In September alone, auto export revenues were up 12.6 percent to reach $3.53 billion, with passenger car exports surging 24.2 percent to $1.23 billion.