Auto sales in 2025 expected to hit around 1.2 million units
ISTANBUL
The increase in auto prices will be limited due to fierce competition in 2025, when vehicle sales are expected to be around 1.2 million units, according to industry representatives.
Electric vehicles will capture a larger share in sales, while carmakers will continue to see lower profit, they also said.
According to industry representatives, the auto market, including passenger cars and light commercial vehicles, will likely end 2024 with 1.2 million sales.
If FX rates won’t increase significantly, the authorities won’t change tax on cars and interest rates will continue to decline, another 1.2 million vehicles will be sold on the local market next year, they said.
Industry representatives also anticipate that amid weak demand in the European countries, European carmakers will turn to Türkiye and flood the Turkish markets with vehicles.
Companies are employing aggressive strategies as more players enter the market, said Ali Bilaloğlu from Doğuş Otomotiv, adding that this weighs on profits.
“This trend is likely to continue in 2025,” he said.
Bilaloğlu expects a significant increase in EV and hybrid car sales in 2025 with the share of EVs in the market climbing to 30 percent.
With their affordable and wide range of EVs, Chinese carmakers cause stiff competition in the Turkish market, said Bülent Kılıçer from Honda Türkiye.
He agreed that this competition affects companies’ profits.
Interest rates on loans are likely to drop significantly starting from the second half of 2025, which will give a boost to car sales, said Murat Berkel from Hyundai Assan.
He expects more than 1 million vehicle sales next year, while forecasting that over 100,000 EVs will be sold in Türkiye.
