Turkish Motorcycles Market is skyrocketing. Following the Q3 sales boom by 169.2% the market at the end of September 2023 landed at 540.321 sales (+138.0%) projecting a new all-time record.
Turkish Motorcycles Industry Trend and Perspectives
Following the strong increase reported in the previous three years, the Turkish two-wheeler market reported an astonishing results in the first half 2023 fueled by the huge increase of small scooter/moped, for the most imported from China.
Turkey is the 19th largest economy in the world, with a GDP of roughly $906 billion. It is a member of the OECD and the G20, and an increasingly important donor of official development assistance (ODA).
Türkiye’s economy grew by 5.6% in 2022, from 11.4% the previous year, as exports, investment, and manufacturing activity lost momentum. However, private consumption remained robust, expanding a huge 19.6% in 2022. Value-added growth was led by the services sector (up 9.7%) and industry (up 3.3%). Its seems that all this factors are still very positive in 2023, as confirmed both by 2-wheeler and car market trend.
Indeed, motorcycle market is skyrocketing although there are no incentives, but a huge demand for vehicles in all segments and category.
Following the Q3 sales boom by 169.2% the market at the end of September 2023 landed at 540.321 sales (+138.0%) projecting a new all-time record.
The electric L1 segment boomed 360.2% and the L3 gained 668.0%, although there are not incentives in place.
In the competitive arena, the new leader is Kuba with sales up 157.3%.
In second place Mondial (+87.9%) followed by RKS (+103.0%), Arora (+146.6.%), the former leader Honda (+64.1%) and the recently launched Indian TVS Motor, landed in 6th place with 27.467 sales.