June 8, 2023

The auto market in Türkiye kept growing in May, with vehicle sales posting yet another impressive yearly growth of close to 71 percent for the month.

According to data from the Automotive Distributors’ and Mobility Association (ODMD), about 114,000 vehicles were sold locally in May.

Since February, auto sales have increased annually by more than 60%, increasing by 63 percent in April, 62 percent in March, and 63.4 percent in February.

After increasing by nearly 70 percent the month before, passenger car sales increased by 68.5 percent year over year in May to surpass 87,000.

More than 24,000 light commercial vehicles (LCVs) were sold last month, an increase of more than 80% over the same time last year. In addition to that, LCV sales in April increased by 40% on a yearly basis.

Customers purchased 2,592 electric vehicles in May, a startling 589 percent rise from the same month last year.

However, only 3% of all vehicle sales were electric cars and trucks. Sales of electric vehicles increased by more than 476 percent yearly to 10,166 in the first five months of 2023.
Sales of hybrid vehicles increased by 49 percent to about 35,400.

More than 445,000 vehicles were sold in the nation from January to May, with sales of passenger cars exceeding 380,000, up 58.8% from the previous year. The association reported a 66 percent increase in LCV sales to almost 105,000.

According to experts, the reason for the strong demand in the auto industry is that consumers see vehicles as investments in a world where there are no positive genuine interests.

Source: Hürriyet Daily News
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