Turkey’s auto sales edge up 0.1% y/y in February

Turkey’s auto sales edge up 0.1% y/y in February
By bne IntelliNews March 4, 2018

Turkey's vehicle sales rose by 0.09% y/y to 47,009 units in February, the Turkish Automotive Distributors’ Association (ODD) reported on March 2.

Across January-February, vehicle sales declined by 0.25% y/y to 82,085 while passenger car sales rose by 4% y/y to 62,512 and light commercial vehicle (LCV) sales declined by 11% y/y to 19,573 units.

The ODD forecasts that auto sales will amount to between 925,000 and 975,000 in 2018.

Vehicle sales declined by 2.8% to 983,720 units in 2017. The passenger cars market contracted 4.52% to 722,759 units while LCV sales increased by 2.93% to 233,435.

Turkey’s top export item in January-February was once again motor vehicles, with shipments rising 19% y/y to $5.09bn, latest data from the Turkish Exporters’ Assembly (TIM) showed on March 1.

Turkey’s auto production declined by 3% y/y to 124,347 units in January, after contracting 3% y/y in the previous month, latest data from the Automotive Manufacturers’ Association (OSD) showed on February 26.

In 2017, Turkey’s auto production increased by 13% y/y to a record high of 1.67mn thanks to rising exports. In 2016, the country’s automotive output increased by 9% to 1.49mn units.