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ECONOMICS > Auto market shrinks 19.26 pct, exports up

ISTANBUL - Anatolia News Agency

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Despite the shrinkage in domestic auto sales for the Turkish market, auto exports reach $104 bln in the first half of the year. Hürriyet photo

Despite the shrinkage in domestic auto sales for the Turkish market, auto exports reach $104 bln in the first half of the year. Hürriyet photo

Turkey’s automobile and light commercial vehicles market shrank by 19.26 percent between January and June 2012.

According to a report prepared by the Association of Automotive Distributors (ODD), 340,632 automobiles and light commercial vehicles were sold in Turkey in the first six months of 2012.

In 2011, a total of 421,872 automobiles and light commercial vehicles were sold in Turkey in the first six months of the year.

The ODD report indicated that 71,067 automobiles and light commercial vehicles were sold in Turkey in June 2012. In June 2011, a total of 81,573 automobiles and light commercial vehicles were sold in Turkey.

Thus, the automobile and light commercial vehicles market in June shrank by 12.88 percent when compared to the same period last year.

However, despite the shrinkage in the European market, Turkish automotive industry exports reached $10.4 billion in the first half of this year.

In 2004, the total value of auto exports was $10.8 billion. According to the Turkish Exporters Assembly (TIM) data, at the end of the 2012, the Turkish automotive industry’s target is to reach $20 billion. After the 2002 economic crisis in Turkey, the automotive industry began focusing on exports. Especially after 2001, the industry achieved record breaking exports figures.

The highest number of auto exports in the history of industry was in 2008 at $24.7 billion.

The automotive industry had an ineffective period just a year after the record breaking year because of the shrinkage in the world market and global recession. In 2009, auto exports went down 31 percent to 16.8 billion.

July/05/2012

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