Turkey 2024. Motorcycle Market Skyrockets (+111%) Reaching 10th Place Worldwide

13778
Turkey Motorcycles

Turkish Motorcycles Market is skyrocketing. Following the dramatic increase reported in the last three years, The market keeps booming in 2024, ending the first quarter with a new record sales at 242.586 (+111.4%).

 

Turkish Motorcycles Industry Trend and Perspectives

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).

The Turkish economy grew substantially in 2023, surpassing expectations with an estimated year-on-year GDP increase of 4.5% (see Figure 1). This growth was fuelled by stimulus measures implemented ahead of the May 2023 elections, including wage and pension hikes. But a minimum wage, though relatively high, has failed to alleviate widespread poverty, especially in urban centres like Ankara and Istanbul, exposing flaws in the country’s economic system.

Its seems that all this factors are still very positive in 2023, as confirmed both by 2-wheeler and car market trend both skyrocketing.

Following the dramatic increase reported in the last three years, The Turkish motorcycles market keeps booming in 2024, ending the first quarter with a new record sales at 242.586 (+111.4%), the 10th highest market worldwide.

The electric L1 segment boomed 132% and the L3 gained 153%, although there are not incentives in place.

In the competitive arena, the new leader is Kuba with sales up 159%.

In second place Mondial (+87.9%) followed by the former leader Honda (+98.6%).

However, the sensational performance is reached by TVS Motor, recently landed in the country and already in the podium with a +365% from the correspondent period last year.

Behind,  RKS (+1.9%) and Arora (+80.9.%).