Türkiye June 2023: Another record with sales up 38.1%
Renault is the best-selling carmaker in Turkey in June.
11/08 update: Now with Top 30 models
It’s another record for Turkish new light vehicle sales in June: up 38.1% year-on-year to 111,363, the first time June volumes pass the 100,000 unit mark. This includes 89,833 Passenger Car sales (+40%). The H1 2023 result is up 55.5% to 556,369. A few elements explain these fantastic scores which seem contradictory in a challenging economic environment. In November 2022, the Turkish government raised the price thresholds for a special consumption tax on certain vehicles. For example, the price threshold for vehicles in the 45% tax bracket was raised from 120,000 Turkish Lira to 184,000 TL. In the run-up to the general election, the state doubled the basic pension, raised the minimum wage by 55% and offered consumers one month of free petrol. In a context of soaring inflation (around 40%) due to a weak Turkish Lira, consumers have looked at vehicles as an investment tool to protect themselves from rising prices, buying at a fixed price in the belief that the car will increase in value. Finally, interest rates have been cut to 8.5% in complete contrast with inflation rates, which means cheaper credit for customers to purchase vehicles.
In this favourable context, Renault (+35.4%) rises to the brand leadership with 15.1% share vs. 10.6% year-to-date despite trailing the market. Fiat (-10.9%) is bumped down to 2nd place with 14.3% share vs. 18.2% so far this year, with a particularly high comparison base as it broke its market share record in June 2022. The next 5 carmakers all beat the market: Ford (+64.3%), Opel (+121.4%), Citroen (+205.6%), Peugeot (+61.6%) and Toyota (+61.2%) impress. Volkswagen (-2.6%) and Hyundai (+23.6%) are weak just as newcomer Chery repeats at #10. DS (+284%) and Cupra (+208.9%) stand out below.
In the models ranking, the Renault Clio snaps the lead off the Fiat Egea Sedan with 10.4% share vs. 8.1% for the Italian. The Egea Sedan easily retains the YTD pole position with 11.4% of the market vs. 7.4%/ The Opel Corsa is up to third place above the Toyota Corolla Sedan and Renault Megane Sedan. The Fiat Egea Cross, #3 year-to-date, ranks 6th this month while the Citroen C3 Aircross shoots up to 7th place vs. #17 year-to-date. The Opel Crossland, Peugeot 2008 and Dacia Duster round out the Top 10. Notice also the Chery Tiggo 8 Pro at #14, the Tiggo 7 Pro at #15, the Citroen C4X at #17 and the Chery Omoda 5 at #18.
Previous month: Türkiye May 2023: Sales surge 70.9% to new record, local brand Togg lands
One year ago: Türkiye June 2022: Market up 1% to best in 5 years, Fiat (+26.7%) hits record share
Full June 2023 Top 47 All brands and Top 30 models below.
