Vehicle sales in Turkey rise 55% on year in H1; EV sales jump 465%: ODD

  • The on-year rising trend continues in June
  • EV sales see a sharp increase in H1 2023

Vehicle sales in Turkey reached a historical high in the first half of 2023, at 555,867 units, up 55% on the year, as the rising trend in vehicle sales continued for the sixth consecutive month in June.

Passenger and light commercial vehicle sales in Turkey totaled 110,861 units in June, up 37.5% year on year, according to the Turkish Automotive Distributors Association, or ODD, data published July 4.

This figure was relatively stable on month but was up a sharp 53.8% from the June sales average of the last 10 years.

Passenger vehicle sales rose 40.1% year on year to 89,833 units in June 2023, while light commercial vehicle sales rose 27.3% to 21,028 units.

Sales of electric vehicles reached 2,626 units in June, up by 426.3% on the year, while hybrid vehicle sales totaled 8,292 units, up 42%.

Total EV sales reached 12,792 units in H1, 465.3% higher on the year, while hybrid vehicle sales totaled 43,649 units, up 47.5%.

Turkish vehicle producers are expecting both output and sales to reach a historical high in 2023 on strong demand.

Fluctuations in input costs, high inflation and high special consumption tax, however, have been continuing to pull up vehicle prices in Turkey, according to industry sources.

Platts last assessed the Turkish HRC steel price at $680/mt ex-works June 30, stable week on week, but $150 lower than the March 31 assessment, according to S&P Global Commodity Insights data.

Author Cenk