Turkish Motorcycles Market is skyrocketing. Following the dramatic increase reported in the last three years, with year to date October sales at 1 million (+36.3%) ranks as the 10th highest market worldwide.
Turkey’s economy grew less than expected in the second quarter, expanding an annual 2.5% in the face of a year-long monetary tightening campaign, data showed on Monday, but the quarterly growth rate surprised analysts by remaining positive.
Since June 2023, the central bank has hiked its key interest rate to 50% from 8.5% in order to cool demand and lower inflation, which touched 75% in May but dipped to below 62% in July and is expected to continue falling.
However, super-high inflation keeps stimulating the spending and the automotive industry still is protagonist, as confirmed both by 2-wheeler and car market trend both skyrocketing.
The motorcycles market, even following the dramatic increase reported in the last three years, keeps booming in 2024, and with year to date October sales at 1 million (+36.3%) ranks as the 10th highest market worldwide.
The electric L1 segment boomed 22.3% and the L3 gained 61.8%, although there are not incentives in place.
In the competitive arena, the new leader is Kuba with sales up 48.9%.
In second place Honda (+48.9%) followed by Mondial (+39.3%).
However, the sensational performance is reached by TVS Motor, recently landed in the country and already near the podium with a +78.7% from the correspondent period last year.
Behind, RKS (-19.5%) and Arora (+4.8.%).
