White goods sales surge 28 percent

ISTANBUL

Domestic sales of white goods increased by 28 percent in the first three months of 2024 from a year ago, according to the data from White Goods Manufacturers’ Association of Türkiye (TÜRKBESD).

However, the industry’s exports declined by 5 percent annually in the same period.

Total sales, including domestic and international sales, amounted to 8.3 million units, marking a 5 percent increase compared to the January-March period of 2023, said the association.

The industry’s output rose only 1 percent in the first quarter from a year earlier.

In March alone, sales on the domestic white goods market surged 24 percent year-on-year, while exports plunged 11 percent annually.

Local white goods companies’ production declined by 2 percent year-on-year in March to 3 million units.

Rising costs are posing challenges to the industry’s competitiveness, said Gökhan Sığın, the president of TÜRKBESD.

He noted that the industry’s exports have been on the decline in the past two years and the outlook for exports is not expected to change in the short-term, according Sığın.

“Exports have been falling due to the contraction in the global market. But the domestic market has remained rather stable,” he said.

Sığın stressed that it is crucial that domestic consumers have enough purchasing power so that demand for white goods remains strong.

“However, some measures taken recently such as reducing credit card installments and increasing interest rates and commissions on credit cards are posing threats,” he said, calling for taking actions to preserve consumers’ purchasing power and to reduce costs in the industry.