The Turkish automotive sector continued its steady growth in the first half of 2021. However, the global scale microchip problem in the supply chain caused the production to slow down, and the Turkish automotive market shrank in the second half of the year.

Production of the European automobile market (the European Union, UK, and the European Free Trade Area) slowed down in 2021 due to disruptions in the supply of semiconductor materials.

Also, with the continuation of the effects of Covid-19, albeit decreasing, there was a 5% shrinkage compared to the previous year. In terms of main markets, Germany shrank by 10.1%, while France was 0.5%, Spain 1% and Italy. It showed a growth performance of 5.0%. Considering the shrinkage experienced in 2020, the European automobile market closed the year 2021 at 10% below its pre-crisis level in 2019. Tofaş completed the year with 112,477 units, as a result of a 4.6% contraction in exports in 2021 compared to the previous year.

In 2021, Tofaş’s volumetric share in Turkey’s exports was 12%.

The share of export sales accounted for 49.3% of the total sales in 2021, and the profit from these sales was 14,643,275 Turkish liras.