Passenger car sales in Türkiye decrease by 8.4 percent last month annually
Date
11/4/2024 7:26:26 AM
(MENAFN) In October, passenger car sales in Türkiye experienced a decline of 8.4 percent compared to the same month last year, resulting in a total of 75,662 fewer units sold. According to data released by the Automotive Distributors’ and Mobility Association (ODMD), the overall sales of passenger cars and light commercial vehicles amounted to 97,274 units for the month, reflecting a 4 percent decrease on an annualized basis. This downturn highlights the challenges faced by the automotive sector amidst fluctuating consumer demand and economic conditions.
Despite the overall decrease in passenger car sales, the light commercial vehicle segment demonstrated a strong performance, with sales increasing by 15.2 percent to reach 21,612 units during the same period. This growth indicates a shifting consumer preference towards light commercial vehicles, which may be attributed to businesses seeking more versatile and cost-effective transportation solutions. The contrasting trends between passenger cars and light commercial vehicles underscore the dynamic nature of the automotive market in Türkiye.
In terms of vehicle types, hybrid cars gained significant traction, accounting for 21.2 percent of total automobile sales with 16,017 units sold. This represents an impressive annual growth of 84.8 percent, reflecting a growing consumer interest in environmentally friendly options and the increasing availability of hybrid models. However, electric car sales faced challenges, declining by 9.4 percent year-on-year to 8,906 units, which comprised 11.8 percent of total sales. This decrease suggests potential barriers to the adoption of electric vehicles, such as charging infrastructure and market awareness.
Looking at the broader picture for the year-to-date, the automobile market in Türkiye showed a slight growth of 0.2 percent from the previous year, totaling 750,935 units sold from January to October. In contrast, the sales of light commercial vehicles decreased by 6.3 percent, totaling 196,231 units. These figures indicate a mixed outlook for the automotive industry, with certain segments thriving while others continue to face headwinds, reflecting the complexities of consumer preferences and market conditions in Türkiye.
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