Business · Companies · 5 hrs ago
Tofaş third-quarter profit beats expectations as it cuts 2026 forecasts
Turkish automaker Tofaş reported stronger-than-expected third-quarter results in 2026.
Its revenue was 86.4 billion lira, above expectations but 26% lower than in the same quarter last year.
Net profit reached 4.3 billion lira, compared with a market expectation of 2.5 billion lira, while operating profit also beat expectations.
In the first nine months, Tofaş’s retail sales rose 13%, helped by its May 2025 merger with Stellantis.
Its share of Turkey’s light-vehicle market grew to 25%, while production rose 11% to 99,702 vehicles.
The company lowered its full-year sales, export and production forecasts, while keeping its investment spending forecast at 250 million euros.
The end of Egea production in mid-2026 also limited growth, and the revised forecasts set out what Tofaş now expects for the rest of the year.
Tofaş reported third-quarter 2026 net profit of 4.3 billion lira, above the 2.5 billion lira market expectation.
Revenue including financing income was 86.4 billion lira, exceeding the 81.9 billion lira expectation.
The company lowered its 2026 forecasts for domestic sales, exports and total production.
Tofaş kept its 2026 investment spending forecast at 250 million euros.
For the first nine months of 2026, net profit rose 188% year on year to 11 billion lira.
- Who
- Tofaş Türk Otomobil Fabrikaları A.Ş.
- What
- It reported third-quarter results that beat market expectations and cut its 2026 forecasts for sales and production.
- When
- The results cover the third quarter of 2026. The article was published on November 5, 2026.
- Where
- Not stated
- Why
- Not stated
This story does not have two clearly opposing sides.
Tofaş’s retail sales were affected by its merger with Stellantis.
Egea production ended, which limited growth.
Tofaş reported net profit of 4.3 billion lira, above the market expectation of 2.5 billion lira.
Bloomberg HT reported that Tofaş had lowered its 2026 forecasts for domestic sales, exports and total production.
- Third-quarter net profit
- 4.3 billion TL; market expectation was 2.5 billion TL
- Third-quarter revenue
- 86.4 billion TL; market expectation was 81.9 billion TL
- 2026 domestic sales forecast
- 270,000–290,000 vehicles, down from 300,000–320,000
- 2026 export forecast
- 70,000–80,000 vehicles, down from 75,000–85,000
- 2026 production forecast
- 135,000–145,000 vehicles, down from 145,000–155,000
- 2026 investment spending forecast
- 250 million euros