Abstract:

This study analyzed the financial successes of 8 key automotive industry firms traded in Borsa Istanbul (BIST) in COVID–19 using the data between 2017 and 2021. In this context, we determined and compared the financial success scores of firms using the Altman Z-Score (1968), Springate S-Score (1978), Taffler T-Score (1982), and Zmijewski X-Score (1984) models. According to the study results, Altman Z-Skor and Springate S-Skor models reported similar results for key automotive firms. In addition, we established that automotive firms were not affected much by the COVID–19 period in general. On the other hand, we concluded that the financial situation of Anadolu Isuzu Otomotiv Sanayi ve Ticaret A.Ş. (ASUZU) is not healthy in all three models except the Zmijewski X-Score model. Ford Otomotiv Ana Sanayi A.Ş. (FROTO) was in an unhealthy area, according to the Taffler T-Score model, between 2017 and 2021. While we expected that automotive firms would be negatively affected financially due to the unfavorable conditions created by COVID-19, the findings obtained in our research do not support this expectation much.