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Turkiye August 2023: Sales up 78.9%, Chery #5, Togg #16

Chery holds 7.1% of the Turkish market in August.

Once again the Turkish new light vehicle market beats records in August with sales up 78.9% year-on-year to 86,454. This is a new August record, edging past the 82,577 of August 2015. With each month of the year so far being a new record, the year-to-date tally also reaches an all-time high at +64.7% to 755,282, smashing the previous best of 598.963 units established over the first 8 months of 2015. We detailed in the June 2023 report the reasons behind this market surge and they range from minimum wages rising 55% and low interest rates at 8.5% vs. 40% of inflation.

Local carmaker Togg accounts for 2.3% of its home market in August.

This month Renault (+127.6%) snaps the brands’ top spot with 12.5% share vs. 10.2% so far this year, while Ford (+84.2%) also beats the market to rank 2nd with 9.6% share. Surprise, Fiat (-12.6%) has a horrendous month at just 8.1% share, less than half the 16.8% it commands year-to-date. Below Volkswagen (+25.5%), the hero of the month is Chinese newcomer Chery breaking into the Top 5 for the first time and holding a 7.1% share after only 6 months in market. It outsells Opel (+182.4%), Peugeot (+216.6%), Citroen (+217.4%) and Hyundai (+39.8%). Mercedes (+82.9%), Skoda (+113.7%) and BMW (+66.1%) also shine below. Finally, local brand Togg surges to #16 and 2.3% share in August vs. #24 and just 0.6% in July.

Previous month: Turkiye July 2023: Record market yet again, Chery outsells Hyundai, Toyota

One year ago: Turkiye August 2022: Opel (+81.5%), Kia (+54%) can’t prevent market fall (-19.6%)

Full August 2023 Top 47 All brands ranking below.

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