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Turkey's vehicle sales declined by 15% y/y to 72,755 units in May after contracting by 6% y/y in April, the Turkish Automotive Distributors’ Association (ODD) reported on June 4.
Across January-May, vehicle sales declined by 5% y/y to 302,311 units with passenger car sales down by 2% y/y to 234,645 units and light commercial vehicle (LCV) sales experiencing a 13% y/y decline to 67,666 units.
According to preliminary data from the ministry of trade and customs, Turkey’s auto exports rose to a value of $2.3bn in May from $2.17bn a year ago while export revenues increased to $11.6bn in January-May from $9.98bn a year ago.
Deteriorating confidence and macro indicators both in Turkey and also in the main export market - the European Union - along with trade war concerns that might push European automakers to focus on domestic competition could bring more negativity to the Turkish automotive industry’s 2018 outlook.
The ODD forecasts that auto sales will amount to between 925,000 and 975,000 in 2018.
Turkey’s auto production edged down by 7% y/y to 138,504 units in April, following growth of 1% y/y in March and 2% y/y in February, data from the Turkish Automotive Manufacturers’ Association (OSD) showed on May 14.
Vehicle sales declined by 2.8% to 983,720 units in 2017. The passenger car market contracted 4.52% to 722,759 units while LCV sales increased by 2.93% to 233,435.
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.
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