The net sales of seven automotive companies traded at Turkey's only stock market, the Borsa Istanbul, increased by 24 percent in the first quarter of this year compared to the same period of the previous year, reaching around TL 13.35 billion.

The net profits of Anadolu Isuzu, Doğuş Otomotiv, Ford Otosan, Karsan Otomotiv, Otokar, Tofaş Otomobil Fabrikası A.Ş. and Türk Traktör in the first quarter of 2017 were around TL 624.47 million. In other words, profits pointed to an increase of 13.3 percent compared to the same period last year.

Moreover, the sales of Ford Otosan, Otokar, Tofaş Otomobil Fabrikaları AŞ and Türk Traktör increased in the first quarter, while the sales of Anadolu Isuzu, Doğuş Otomotiv and Karasan decreased. During this period, the net sales of seven automotive companies traded on the Borsa Istanbul increased by 24 percent compared to the same period of last year, reaching around TL 13.35 billion.

THE PROFIT OF OTOKAR INCREASED BY 355 PERCENT

Further, Ford Otosan carried out the highest net sales in the first quarter of the automotive companies in Istanbul with TL 5.39 billion, followed by Tofaş Otomobil Fabrikaları AŞ with TL 4.98 billion and Doğuş Otomotiv with TL 2.85 billion. In this period, Otokar was the company with the highest increase in sales compared to the same period of 2016 with 58 percent. Moreover, the company was followed by Tofaş Otomobil Fabrikaları AŞ with 51 percent and Ford Otosan with 29 percent.

While Otokar was the company that increased its profit the most with 355 percent, it was followed by Karsan Otomotiv with 36 percent and Ford Otosan with 34 percent. Also, the company that made the most profit in the first quarter was Ford Otosan with TL 272 million, followed by Tofaş Otomobil Fabrikaları AŞ with TL 262 million and Türk Traktör with TL 55 million.

Among the automotive companies traded on Borsa Istanbul, Ford Otosan shares were the most beneficial to investors. The company which provided a return of 16.42 percent to the investor was followed by Tofaş Oto Fabrikaları with 10.5 percent and Karsan Otomotiv with 9.26 percent.

In this period when the Borsa Istanbul BIST 100 index increased by 13.8 percent, Otokar and Anadolu Isuzu shares lost value by 9.23 percent and 3.61 percent, respectively, while the average share return of the companies was 5.13 percent.

According to the Automotive Industry Association (OSD) data, total automotive production in January-March this year was 23 percent higher than in the same period in 2016, while the car production increased by 44 percent. In this period, total automotive production and automobile production amounted to 424,000 and 300,000, respectively. In the January-March period of this year, the total market shrank 8 percent to 160,000 units. Also, automobile market decreased by 9 percent, declining to 116,000 in this period.

Despite the contraction in the first quarter, car production in the first four months of the year exceeded 400,000, up by 42 percent compared to the same period last year and broke a 10-year record.