Commercial vehicle registrations in Turkey displayed significant volatility from 2013 to 2023, peaking in 2021 with over 500,000 units and hitting lows around 105,000 in 2019. By 2023, the registrations stood at approximately 225,000 units, reflecting a 4.02% decline from the previous year. Over the last five years, the sector experienced a compound annual growth rate (CAGR) of 7.72%, indicating a recovery trend post-2020. However, the forecast reveals a more stable but slightly declining pattern with a projected -0.33% CAGR from 2024 to 2028.
Future trends to watch for include the potential impact of electric and autonomous vehicle integration, regulatory changes, and economic conditions affecting commercial fleet investments. The shift towards sustainable transportation solutions may also play a critical role in shaping the market dynamics.
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