Türkiye's passenger car market slows down in October
ANKARA
The Turkish automotive market experienced a slowdown in October, with passenger car sales dropping by 8.4% year-on-year, according to data released by the Automotive Distributors' and Mobility Association (ODMD).
"The Turkish automotive market is facing a mixed landscape, with passenger car sales slowing down, but the light commercial vehicle segment and the growing adoption of hybrid cars offering some bright spots.
The data showed that a total of 97,274 passenger cars and light commercial vehicles were sold across the country last month, a 4% decrease compared to the same period a year ago.
While passenger car sales declined by 8.4% to 75,662 units, the light commercial vehicle segment saw a surge of 15.2%, reaching 21,612 units sold.
The market's shift towards alternative fuel vehicles continued, with hybrid cars accounting for 21.2% of total automobile sales, or 16,017 units, representing an impressive annual increase of 84.8%.
However, electric car sales saw a 9.4% decline from the previous year, reaching 8,906 units and making up 11.8% of the total market.
The year-to-date figures paint a more nuanced picture, with the overall automobile market recording a slight growth of 0.2% from the prior year, reaching 750,935 units. In contrast, light commercial vehicle sales decreased by 6.3% to 196,231 units during the January-October period.
Analysts attribute the slowdown in passenger car sales to a combination of economic factors, including the ongoing impact of the pandemic, supply chain disruptions, and inflationary pressures affecting consumer purchasing power.
