Turkish Automotive Market in 2024: Trends and Developments
The year 2024 was an important turning point for the Turkish automotive market. Record sales The sector, which has been struggling to make a breakthrough in the new year, has had a tough start. In this article, we will discuss the details of Turkey's automobile and light commercial vehicle sales, the rise of the luxury segment, and important regulations such as the Special Consumption Tax (SCT) exemption.
Decline in Car and Light Commercial Vehicle Sales
According to the data of the Automotive Distributors and Mobility Association (ODMD), Türkiye's car and light commercial vehicle sales in January 2024 will be XNUMX, compared to the same period last year. percent 13,9 decreasing at the rate of 68 bin 654 This decline was due to automobile sales percent 12,6 down 55 bin 944 caused the number to increase. Light commercial vehicle sales are percent 18,8 down 12 bin 710 number has been reached.
Increase in Luxury Vehicle Segment
Despite the shrinking market, the increase in sales of luxury segment vehicles is remarkable. In January, sales of vehicles in the A, B and C segments, which have low tax rates, percent 29 decreased. However, luxury car sales including D, E and F segments over 32 percent This clearly demonstrates the consumer demand for luxury vehicles.
The Rise in D Segment Cars
In 2024, the increase in record vehicle sales is mainly due to demand in the D and above segments. In January 2024, the share of vehicles in the D and above segment in total sales will be percent 14,3 level, this rate will increase further in January 2025. percent 17,7 This has reached its highest level in data history. This shows that interest in luxury vehicles has increased.
Sales Distribution by Engine Volume
- Car sales under 1600cc Total sales decreased by 33,8 percent percent 58,3
- Car sales in the 1600-2000cc range decreased by 30,3 percent percent 0,5 took a share.
- Car sales over 2000cc in the first month of the year percent 41,9 by increasing percent 0,3 reached its share.
Special Consumption Tax Exemption Regulations and Effects
ODMD's January report shows that vehicle sales are at a high pace in the first quarter of each year. Special Consumption Tax (SCT) shows that exempt sales are less than in previous years. With the regulation made in December 2024, vehicles with SCT exemption 40 percent locality requirement It has become impossible to purchase vehicles that do not meet this condition with SCT exemption. Therefore, import vehicles cannot be purchased without SCT. In addition, vehicles purchased with SCT exemption Cannot sell for 5 years rule too It has been increased to 10 years.
Future Prospects
The year 2024 will see many changes and innovations in the Turkish automotive market. Increasing demand for luxury segment vehicles, economic fluctuations and changes in consumer behavior will continue to affect the automotive sector. Consumers' shift towards luxury vehicles will also cause brands to reconsider their strategies.
As a result, the automotive sector has entered an important period in terms of both domestic production and imports. Exemption from Special Consumption Tax regulations and sales distribution by engine volume are among the factors that will change the dynamics of the sector. Closely following the developments in the automotive market is of great importance for both consumers and sector stakeholders.
