The Turkish passenger car market will undoubtedly break its record in 2023
-The Turkish passenger car market often evolves up and down, but we can say that the peak of sales was reached in 2015-2016 with a volume of 750,000 passenger cars per year. The Turkish market then contracted to gradually fall to 400,000 units in 2019. Curiously, the Covid crisis did not affect this market in 2020 which rose to 600,000 units. The Turkish market then stabilized, disrupted like other markets by the shortage of semiconductors and the disruption of global logistics, then by the rise in the price of raw materials and oils.
-Another surprising fact, while we often talk about a difficult economic situation in Turkey in 2023, the passenger car market opposes this observation, because it increases sharply this year, with a real possibility of getting closer to the sales peaks of 2015-2016, i.e. nearly 750,000 passenger car sales over the entire year.
-By brand, the first two leaders have remained the same for several decades, namely Fiat (16% market share in 2022) and Renault (15% market share in 2022). These two carmakers are also the two largest producers of passenger cars in Turkey. Behind, we note the presence of Volkswagen (which ultimately will not build a plant in Turkey), Hyundai (which has a plant in Turkey) and Toyota (which also has a plant in Turkey).
-Note that the market for battery electric vehicles (BEV) is starting in Turkey, with 4% market share in 2023 (compared to 1% in 2022 and 0.5% in 2021) and 5% for xEVs (HEV+PHEV+BEV).