Auto industry’s production plunged 13 percent last month

ISTANBUL

The Turkish auto industry produced a total of 114,346 vehicles in February, a 13.4 percent decline from a year ago, data from the Automotive Manufacturers’ Association (OSD) has shown.

Passenger car production declined 11.3 percent year-on-year to 74,453 units. That followed the 2.8 percent decline in the previous month.

In January, the auto industry’s total vehicle production ticked up 1.1 percent annually.

Ford Otosan was the largest producer with a share of 29.3 percent (34,345 units), in the industry’s total vehicle output, followed by Oyak Renault with 27.7 percent (32,446) and Hyundai Assan at 17.6 percent (20,600), OSD data showed.

Last month, commercial vehicle output fell 17 percent compared to February 2024 to 39,893 units.

The local auto market shrank 15.3 percent year-on-year in February, when 93,864 vehicles were sold, with passenger car sales plunging 7.6 percent annually to a little more than 76,000.

In line with the contraction in the market, the country’s passenger car imports fell 8.1 percent compared to February last year to 51,499. Total vehicle imports were down 13.6 percent year-on-year to 63,538.

The auto industry’s export revenue was $2.94 billion in February, marking a 6 percent decline from a year ago, while passenger car exports fell 5.7 percent to $825 million.

In the first two months of 2025, the industry’s export revenue fell 0.9 percent annually to $5.89 billion with passenger car exports rising 4.2 percent to $1.69 billion.

In the January-February period, total vehicle production was down 8.9 percent year-on-year to 218,991 units.

The industry’s passenger car output fell 6.3 percent from the same period of 2024 to 141,496, the association said.