Business

Turkiye: Automotive production increased by 5% in the first 7 months of the year

Turkiye’s automotive production increased by 5% in the January-July period and amounted to 649 thousand 311 units.

Automotive Industry Association (OSD) announced the production and export numbers and market data for the January-July period. Accordingly, in the seven months of the year, total automotive production increased by 5% compared to the same period of the previous year and reached 742 thousand 969 units, while automobile production decreased by 4% to 434 thousand 190 units.

Together with the tractor production, the total production reached 770 thousand 279 units. During this period, the capacity utilization rate of the automotive industry was 66%. On the basis of vehicle group, the capacity utilization rates were 66% in light vehicles (cars + light commercial vehicles), 84% in the truck group, 33% in the bus-midibus group and 62% in the tractor.

Heavy commercial vehicle capacity utilization is at 65%

In the January-July period, commercial vehicle production increased by 21% compared to the same period of the previous year. During this period, production in the heavy commercial vehicle group increased by 25% and in the light commercial vehicle group by 20%.

In the first seven months of the year, the total commercial vehicle production was 308 thousand 779 units. Looking at the market, the commercial vehicle market contracted by 3% and the light commercial vehicle market by 5%, while the heavy commercial vehicle market grew by 8% in the January-July period compared to the same period of the previous year.

The total market amounted to 430 thousand 929 units.

In the period covering the first seven months of the year, the total market decreased by 7% compared to the previous year and amounted to 430 thousand 929 units. In this period, the automobile market shrank by 8% and became 319 thousand 313 units. Considering the averages of the last 10 years, the total market increased by 0.5% and the automobile market by 1% in the January-July 2022 period.

While the heavy commercial vehicle market increased by 13%, the light commercial vehicle market contracted by 3.5%. In this period, the share of domestic vehicles in automobile sales was 40%, while the share of domestic vehicles in the light commercial vehicle market was 60%.

Export of 526 thousand 601 thousand units in seven months

In the January-July period, automotive exports increased by 3% on unit basis compared to the same period of the previous year and amounted to 526 thousand 601 units. In the same period, automobile exports decreased by 8% to 298 thousand 333 units. According to the data of the Turkish Exporters Assembly (TIM), automotive industry exports accounted for 12% of total exports in the January-July period.

Export reached $17.6 billion

In the January-July period, compared to the same period of the previous year, total automotive exports increased by 5% in dollar terms and 17% in euro terms. In this period, total automotive exports amounted to $17.6 billion, while automobile exports decreased by 7% to $5 billion.

Automobile exports on a euro basis increased by 3% to €4.6 billion. In the first seven months of the year, exports of the main industry increased by 4% and supply industry exports increased by 7% in dollar terms.

Source: Trthaber / Translated by Irem Yildiz

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