The Automotive Manufacturers’ Association (OSD), which monitors Turkey’s automotive sector, shared data for the first quarter of 2024. According to OSD’s report, production, export and market figures increased in the January-March period compared to the same period last year. Here are the figures

Automotive exports amounted to 9.2 billion dollars in the first quarter of 2024

The report prepared by the Automotive Manufacturers Association revealed that total automotive production in Turkey increased by 3 percent compared to the previous year and reached 377 thousand 70 units. In this context, the automobile group showed the highest increase by 7 percent with 238 thousand 274 units. Total production reached 390 thousand 925 units, including tractors.

Commercial vehicle production decreased by 4 percent in the first three months of the year. Moreover, the rate of decline in light commercial vehicle production was around 5 percent. On the contrary, the increase in heavy commercial vehicle production was realized as 1 percent. In this period, the capacity utilization of the automotive industry has reached 77 percent.

According to OSD figures, total automotive exports grew by 1 percent in the first quarter of 2024 compared to the same period of the previous year. In the period when total exports amounted to 256 thousand 511 units, automobile exports contracted by 2 percent. However, the rate of increase in commercial vehicle exports was recorded as 5 percent.

It is possible to say that sales in Turkey also increased. Sales in the automotive market reached 307 thousand 461 units with an increase of 24 percent compared to the previous year. The rate of increase in automobiles was realized as 33 percent.

In addition to OSD, according to Uludağ Exporters’ Association (UİB) data, total automotive exports grew by 5 percent in dollar terms and 3 percent in euro terms. Total exports in the January-March period amounted to 9.2 billion dollars.