Significant increase seen in exports to Russia, Mexico, Czech Republic from January to August, data shows
Turkey exported buses, minibuses, and midibuses worth $916.5 million to 87 countries from January to August this year, according to data released by an industry group on Wednesday.
A majority of the sales were to EU countries France ($154.8 million), Germany ($147.1 million), and Italy ($89.6 million), figures compiled by the Uludag Automotive Industry Exporters Association (OİB) show.
Exports to Morocco, which was fourth on the list, increased by 27.79% compared to the same period last year and reached $35.6 million.
Sales to the Czech Republic stood at $26.5 million, marking a 112% increase in the eight-month period, while exports to Russia soared by 376.11% to hit $23.3 million.
Exports to Mexico, a developing market, surged by 244.32% to reach $15.2 million, up from $4.4 million in the Jan-Aug period last year.
Turkey ranks fifth in Europe’s automotive production list and the total investment volume of global brands in the country’s automotive industry since 2000 has reached $15 billion, according to the Investment Office of the Presidency of the Republic of Turkey.