Türkiye sees 3.7 percent annual increase in road motor vehicle registrations
Date
12/22/2024 7:12:29 AM
(MENAFN) In November, Türkiye saw a 3.7 percent year-on-year increase in road motor vehicle registrations, according to the Turkish Statistical Institute (TurkStat). A total of 188,966 first- and second-hand vehicles were registered during the month. Despite the annual growth, the monthly figures showed a 9.8 percent drop compared to October, indicating a decline in new registrations from the previous month. This contrast suggests that while the automotive market is growing on an annual basis, it faces short-term fluctuations.
By the end of November, the total number of registered road motor vehicles in Türkiye had reached 31.07 million, a significant milestone that reflects the country’s expanding vehicle fleet. Among the newly registered vehicles, passenger cars dominated the market with 44.9 percent of the share, followed by motorcycles, which made up 38.9 percent, and small trucks at 10.3 percent. This breakdown highlights the continued popularity of passenger cars, although motorcycles also remain a strong segment of the market.
Renault was the leading brand in terms of vehicle registrations, capturing a 13.3 percent share of the market, followed by Volkswagen at 8.3 percent, Hyundai at 7.4 percent, Fiat at 7.1 percent, and Peugeot at 5.3 percent. These top brands indicate the preferences of Turkish consumers, with global and domestic carmakers sharing a substantial part of the market. The consistent demand for these brands contributes to the growth in vehicle registrations.
Looking at the year-to-date figures, the number of registered vehicles in Türkiye has increased by 12.9 percent year-on-year, totaling 2.4 million vehicles between January and November. This steady growth suggests a resilient automotive market in Türkiye, which continues to expand despite the broader economic challenges, indicating strong consumer demand for both new and second-hand vehicles.
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