Türkiye’s automotive exports slow but sector maintains leadership

ISTANBUL

The automotive industry recorded foreign sales of $3.29 billion in March, marking a 6.3 percent decrease compared to the same month last year, according to a statement from the Uludağ Automotive Industry Exporters’ Association (OİB).

Despite the decline, the sector maintained its top position in Türkiye’s overall exports, accounting for 16.9 percent of the country’s total exports.

In the first quarter of 2024, automotive exports rose 4.3 percent year-on-year, reaching $9.89 billion.

Passenger car exports in March fell 20 percent to $909 million, while bus-minibus-midibus exports increased 10 percent to $293 million.

Germany remained the industry’s largest market, though exports there dropped 6 percent to $525 million. France followed with a slight 1 percent decline to $456 million, while exports to Italy rose 8 percent to $306 million.

“Despite the partial contraction we experienced in March, we continue to maintain our leadership and strategic importance in national exports,” commented OİB Chairman Baran Çelik.

“The 10 percent increase in bus-minibus-midibus exports, against the decline in passenger cars, once again demonstrates the competitiveness and flexibility of our product range in global markets,” he said.