TurkiyeBusiness

Turkiye: Auto production plunges 16 percent in June

Turkish carmakers’ production declined by 15.8 percent in June from a year ago to 100,162 units, according to data from the Automotive Manufacturers’ Association (OSD).

Passenger car output was down 9.4 percent annually to around 69,000.

The local market shrank 6 percent last month, when a total of 109,418 vehicles were sold with passenger car sales falling 3.8 percent year-on-year to 87,858.

In June, nearly 62,000 passenger cars were imported, marking a 4.8 percent increase from a year ago. The share of imported cars in the local market was 70.5 percent, OSD said.

The industry’s exports plunged 15.8 percent to $819 million.

In the first half of 2024, local companies produced a total of 707,067 vehicles, which translated into a 3.8 percent decline from the same period of last year.

The annual decline in passenger car output was 0.4 percent to 460,743 units.

Carmakers shipped 493,527 vehicles to foreign markets,a 2.5 percent decline compared with the first half of last year.

Export revenues amounted to $17.64 billion in January-June, down 0.3 percent from a year ago.

Presently, the local auto industry has an annual production capacity of 2 million units, ranking 14th in the world and fourth in Europe in terms of production.

Source: hurriyetdailynews

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