Turkish automotive production up 20% in Q1
10 Jul 2017 - 1:05
Istanbul: Turkish automotive production rose 20 percent year on year to 869,158 vehicles in the first half, with output up 8 percent to 141,161 vehicles in June, Turkey’s automotive producers body said.
Domestic automotive sales, including both cars, light and heavy commercial vehicles fell 9 percent to 410,609 units in the first half as last year’s tax increases and forex induced price increases continued to put pressure on markets.
Turkey’s automotive exports climbed 29 percent to 714,284 units, led by a 48 percent rise in car exports as manufacturers continued to ramp up the output of export oriented models.
Turkey’s Automotive Industry Association also upped its year-end production forecast to 1.7 million vehicles from 1.65 million. Year-end automotive exports, the biggest contributor to national exports, were seen at 1.4 million units, with an approximate value of $28bn the industry association said.
Global manufacturers such as Toyota, Hyundai, Ford and Fiat Chrysler operate their plants in Turkey as export hubs, with only part of the production sold in the local market.