Auto production dips in first four months

ISTANBUL

 The total auto production fell by 3 percent in the first four months of this year to 448,428 units, data from the Automotive Manufacturers Association (OSD) has revealed.

The sharpest decline was recorded in the passenger car segment, where production dropped by 15 percent to 250,276 units, while the slump in car exports reached 27 percent.

The steep downturn in passenger car production and exports is attributed to weak demand in the European market, model transitions and production scheduling adjustments. Conversely, the light commercial vehicle (LCV) segment showed resilience. In the first four months, LCV production expanded by 17 percent, while the domestic LCV market grew by 9 percent.

Meanwhile, total automotive industry exports rose by 9 percent during the same period, reaching $13.8 billion.