According to the statement of Tofaş Türk Automobile Factory AŞ in the Public Disclosure Platform (KAP), the company's consolidated net profit, which was 9 billion 374 million 39 thousand liras in 2022, increased to 15 billion 83 million 439 thousand liras in 2023.
There was a decrease in automotive production
In 2023, automobile production in Turkey increased by approximately 9 percent to 1.47 million. Tofaş's automotive production decreased by 9 percent compared to the previous year and was recorded as 239 thousand in 2023, accounting for 16.3 percent of the industry. In 2023, Tofaş's production distribution was 71 percent passenger vehicles and 29 percent light commercial vehicles. Passenger vehicles will increase by 52 percent in 2022; light commercial vehicles were recorded as 48 percent.
According to data published on KAP, the end of Doblo production in 2023 caused Tofaş exports to decrease by 50 percent to 60.5 units.
Fiat, the first brand of vehicles produced in TOFAŞ's Bursa factory, maintained its leadership in the passenger vehicle market with a 13 percent market share in 2023. However, compared to 2022, the passenger vehicle market share decreased by 3.4 points. The reasons for this were attributed to the improvement in the availability of imported vehicles and new brands entering the market, the decreasing local advantage due to the lack of any revision in the Special Consumption Tax segments, and the production restrictions due to the renewal of production lines.
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