OSD 2024 automotive production data released: There is a decline in production!

The Automotive Manufacturers Association (OSD) has released its automotive production data for the January-November period of 2024. The report includes the automotive production volumes achieved in the first 11 months of the year and reveals that the decline experienced compared to the previous year is significant.

HOW MUCH HAS PRODUCTION DECLINED?

According to the statements, total automotive production, which was 1 million 349 thousand 79 units in 2023, declined by 8 percent to 1 million 239 thousand 944. On the passenger car side, there was a 6.2 percent decline compared to the same period last year, with production figures announced at 822 thousand 361.

UNIT EXPORTS FELL, REVENUE INCREASED

In terms of exports, total automotive exports fell from 926 thousand 99 units to 915 thousand 446 units, representing a 1.2 percent decrease. However, in terms of earnings, a 2.7 percent growth was achieved, with revenue rising from 32 billion 479 million dollars to 33 billion 357 million dollars.

DECLINE IS GREATER IN COMMERCIAL VEHICLES

The report states that production in the commercial vehicle sector has declined significantly, with this rate determined to be 12 percent for the January-November 2024 period. While a 10 percent decline was observed in light commercial vehicles, production in the heavy commercial vehicle group decreased by 25 percent.

HOW MUCH DID PRODUCTION DECREASE BY VEHICLE TYPE?

Compared to 2023, the production of commercial vehicles carrying cargo and passengers decreased by 12 percent in 2024.

Minibus 18 percent

Midibus 2 percent

Bus 7 percent

Truck 32 percent

Pickup truck 13 percent decline was observed.