Turkey’s automotive exports up 22 pct so far in 2017

Turkey’s automotive exports up 22 pct so far in 2017

ISTANBUL
Turkey’s automotive exports up 22 pct so far in 2017

Turkey’s automotive exports rose to 1.1 million units in the first 10 months of 2017, with a 22 percent year-on-year increase on an amount basis, mainly due to an ongoing boost in new passenger car exports, a leading sector association announced on Nov. 12.

The country exported a total of 769,000 cars in the period with a 34 percent year-on-year increase, the Automotive Manufacturers’ Association (OSD) said in a statement.

In the 10-month period, Turkey’s total automotive production saw a 17 percent year-on-year increase and reached 1.38 million units.

Total car production rose 27 percent in the first 10 months of the year and hit 941,404 units, according to OSD data.

Despite a slight regression in October due to base effect resulting from a dramatic increase in new passenger car models’ sales to abroad, the country continued to export almost eight of every 10 automotives produced.

Turkey’s automotive sector produced 156,303 units in October with a 7 percent year-on-year increase.

It exported 118,870 of them with a 9 percent year-on-year increase in exports, the OSD data showed.

Turkey’s automotive production saw a 13 percent year-on-year increase in September.

Turkey, automotive, exports, export, automotive sector