Country’s automotive exports slip 19% to $23.1B in 11-month period, says sectoral body
Automakers in Turkey produced some 1.15 million vehicles including automobiles and commercial vehicles in this January-November, according to a sectoral report.
The figure was down 13% year-on-year, the Automotive Manufacturers Association (OSD) said on Sunday.
The country’s passenger car production also fell 14% to 761,743 during the same period.
The report said around 72% of manufactured vehicles were exported, marking a 28% annual decline to 821,900 units in the first 11 months of 2020.
Taking the lion’s share in the country’s total exports in January-November with 15%, automotive exports stood at $23.1 billion, decreasing 19% on a dollar basis compared to the last year.
The association also said Turkey’s overall auto sales market, including light trucks and other vehicles, grew 73% annually, reaching 688,180 in the first 11 months of this year.
Top international automakers including Ford, Honda, Hyundai, Mercedes, Renault, and Toyota have factories in Turkey, one of the world’s top auto sale markets.
In November, auto production increased 5.4% on an annual basis to 143,264.