Business

Turkish auto industry makes nearly 110,000 vehicles in October

Figure falls 28% from same month last year, sectoral report from manufacturers association reveals

Automakers in Turkey produced 108,078 vehicles in October, including automobiles and commercial vehicles, according to a sectoral report released on Monday.

The figure decreased by 28% year-on-year last month, a report from the Automotive Manufacturers Association (OSD) showed.

Passenger car production in Turkey fell by 32.6% to 64,637 units during this period, said the report, adding that over 80% of manufactured vehicles were exported, marking a 16.4% annual decline to 87,027 units.

Taking the lion’s share in the country’s total exports last month, automotive exports stood at $2.65 billion, decreasing 10.4% on a dollar basis compared to October 2020.

The association also said the country’s overall auto sales market, including light trucks and other vehicles, shrank by 38% annually, reaching 60,044 units over the month.

Top international automakers including Ford, Honda, Hyundai, Mercedes, Renault, and Toyota have factories in Turkey, one of the world’s top auto sales markets.

Between January and October, auto production increased by 3% on an annual basis to over 1 million, while car production slipped by 5% to 635,745 units.

Source
AA

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