Home News Otokar Records 53 Percent Revenue Growth Despite the İmpact of the Pandemic

Otokar Records 53 Percent Revenue Growth Despite the İmpact of the Pandemic

by Buse Köse

Otokar, released its 9-month financial results on 26 October. The company recorded 53 percent year-on-year revenue growth in the first nine months of 2021. Operating in over 60 countries on five continents with products with owned intellectual property rights, Otokar increased its revenues to 2.7 billion liras by the end of the third quarter. Otokar’s exports rose to 224 million dollars with a 41 percent increase in the first nine months while the company posted a net profit of 516.4 million liras in this period.

Serdar Görgüç, General Manager at Otokar

Serdar Görgüç, General Manager at Otokar, noted that the company, operating with 2,230 employees at its Sakarya plant, achieved successful results in the first nine months of the year despite the prolonged impact of the pandemic. “As we worked on new projects for export markets, we were also highly successful in domestic tenders. We delivered 364 buses to serve in Izmir’s public transit system in as short as seven months after receiving the order. Furthermore, we exported natural gas-powered buses to Ukraine. In addition, the delivery of 4×4 and 8×8 armoured vehicles as part of previously received orders continued.”


Görgüç added that the tenders Otokar has won and the orders received during the year would drive the company’s growth and success in the upcoming period. “We won the public transportation bus tenders of Ankara and Istanbul in the first nine months. Furthermore, we received new orders from different geographies such as Slovakia and Jordan. In September, we started promoting our electric bus, e-Kent C, which is currently on a demo tour across Europe. Following stops in Germany, Spain and Romania, the electric bus, which promises a cleaner environment and quieter traffic, is currently touring in Italy. Its next stop will be France. Our cooperation with Iveco for buses is also proceeding as planned. In the defence industry, the production and deliveries of the previously received orders are in progress. In addition, we participated in a number of important international fairs and events in the first nine months, exhibiting our land systems capabilities. The developments in commercial and military vehicle segments will ensure the sustainable growth of Otokar and will drive us to the future.”


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