Türkiye’s leading automotive industry firms in 2023 ISO 500 list

According to the ISO 500 list published by the Istanbul Chamber of Industry, which includes prominent brands, the largest automotive industry companies in Turkiye have been identified. For those curious, let’s start by noting that TUPRAS ranks first on the list with a 2023 turnover of 484.2 billion TL. Ford Otosan, with 238 billion TL, ranks second on the list of Turkiye’s largest industrial companies, standing out as the leading industrial enterprise in the automotive sector.

According to the 2023 report published by the Istanbul Chamber of Industry, ISO 500’s exports fell by 29% to 951 billion dollars compared to 2022, while Turkiye’s industrial exports decreased by 0.2% to 2.456 billion dollars. Moreover, it is stated that the profitability of ISO 500 member institutions remained weak in 2023, with operating profit increasing by 397% to 937 billion liras, but the profitability ratio declining from 12.8% to 12.5%.

Based on the information in the report, financing expenses increased by 925% to 533 billion liras in 2023, with industrialists allocating more than half of their profits to financing expenses.

ISO Board Chairman Erdal Bahcivan, in his statement on the matter, noted that sales from production increased by 421% to 6 trillion 375 billion liras in 2023. However, he indicated that this growth declined compared to the previous year due to weakened global demand, the earthquake disasters on February 6, and changes in economic policies following the elections.

Following inflation adjustments, Bahcivan stated that ISO 500’s total assets increased by 126% to 88 trillion liras, attributing a significant portion of this increase to inflation adjustments.

Here are the automotive companies that made it into the top 250 of Turkiye’s largest industrial companies in 2023: