Temsa revenue grew 20% in 2024, that has been the OEM’s most successful sales year in a decade

2024 has been Temsa most successful year in a decade in terms of sales volume. The Turkish manufacturer states it has achieved a +320% increase in revenue in USD terms over the last four years, reaching $462.1 million by the end of 2024 (68% of earnings generated from international markets).

Revenue’s growth has been +20% in 2024, as Temsa stated it recorded 387.5 million dollars in 2023.

Operating under the Sabancı Holding-PPF Group umbrella since late 2020, Temsa announces it has reached its highest sales volume in a decade.

At the end of 2023, the company announced it had achieved a 252% turnover growth during the 2020-2023 period.

Temsa achieved growing volumes in 2024

In 2024 alone, the OEM recorded a 49% sales increase in the U.S., 32% growth in France, and an impressive 54% expansion in Western Europe—marking its strongest performance in these regions.

CEO Evren Güzel states: “The mobility industry has faced significant disruptions, yet Temsa has continued to expand its global footprint and strengthen its market position. Our latest performance not only highlights our ability to navigate uncertainty but also reaffirms our status as a leading brand in commercial transportation. Joining the Sabancı-PPF partnership and emerging from restructuring were critical milestones for Temsa. Since then, we have tripled our revenue in USD terms, positioning ourselves as a financially robust and strategically agile player in the industry.”

A key development in 2024, the company adds, was Temsa’s successful securing of a €90 million syndicated loan from a consortium of five banks. This funding allowed the company to exit its 2020 restructuring agreement and accelerate its global growth initiatives. “This financial flexibility empowers us to lead the shift toward zero-emission mobility, invest in cutting-edge technology, and further cement our position as an industry leader,” Güzel stated.

“We aim to go beyond being just a vehicle manufacturer. Temsa’s vision is to be recognized globally as a pioneering mobility brand,” said again Güzel. “At the heart of our strategy is a commitment to customer-centric innovation. We aim to be a partner on every journey, offering cutting-edge, sustainable mobility solutions. Our long-term vision is clear: Temsa is on track to reach $1 billion in revenue as a future-forward mobility leader,” Güzel concluded.