Turkiye’s automotive industry exported $2.65 billion worth of products in October. In October, exports to Germany, the largest market, increased by 15%, amounting to $404 million.
According to the statement made by the Uludag Automotive Industry Exporters’ Association (OIB), the exports of the Turkish automotive industry in October increased by 1.8% compared to the same month of the previous year and reached $2.65 billion.
Increasing its share in total exports to 12.4%, the automotive industry’s exports in the January-October period of this year increased by 5% compared to the same period of the previous year and reached $25 billion. The average monthly export of the sector in 10 months was $2.5 billion.
13% increase in supply industry exports
When we look at the sub-product groups of the automotive industry, the “supply industry”, which achieved an export of $1 billion 69 million with an increase of 13%, was recorded as the largest product group in the sector’s exports.
While exports of “passenger cars” decreased by 20% to $748 million in October, exports of “motor vehicles for transporting goods” decreased by 4% to $448 million.
The highest rate of increase in exports in October was seen in the “tractors” group. The export of tow trucks increased by 95% and reached $214 million.
15% increase to Germany
In October, exports to Germany, the largest market, increased by 15%, amounting to $404 million.
While the United Kingdom is the second largest market with an export figure of $285 million, exports to this country increased by 9% compared to the same month of the previous year. Exports to France, the third largest market, decreased by 12% to $252 million.
In October, exports increased by 32% to Belgium, 23% to Russia, 21% to Romania, 79% to Portugal and 81% to Czechia.
“We recorded a double-digit increase in Germany, Belgium and Russia”
OIB Chairman of the Board Baran Celik, whose views were included in the statement, stated that the risk of global recession increased with the inflation problem.
Noting that the increase in automotive exports continued despite the contraction in the Eurozone, Celik said, “We rose to the first place in sectoral exports on a monthly basis in October. The highest export was recorded in the supply industry again. Our exports of the supply industry, tow trucks and buses, minibuses and midibuses increased by double digits. We recorded double-digit increases for Germany, Belgium and Russia.”
Source: Trthaber / Translated by Irem Yildiz