Equity Analysis /

Turkish Autos: After a weak October, we revise down our 2021 and 2022 estimates

  • We are revising down our 2021 and 2022 estimates by 3% and 8%, respectively.

  • Light Vehicle sales fell by 40% y/y to 56.8K. Assuming the trend continues in 2021, we calculate 830.0K LV sales volume

  • Within our auto coverage, we continue to favour Tofas

Cemal Demirtas
Cemal Demirtas

Head of Research

Aytunc Uz
Aytunc Uz

Equity Research Analyst

ATA Invest
2 November 2021
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