Automotive exports hit $2.8 billion in June

Automotive exports hit $2.8 billion in June

Automotive exports hit $2.8 billion in June

The automotive sector’s exports increased by 17.9 percent on an annual basis to $2.8 billion in June, according to data from the business group.

The industry, which has been the leader in exports among all sectors over the past 16 years, captured an 11.8 percent share in the country’s total exports last month.

In the first six months of the year, automotive exports stood at $15.3 billion, pointing to a 6.1 percent increase from the same period of last year.

From January to June, the monthly export revenue of the sector was $2.5 billion on average, according to the Automotive Exporters Association (OİB).

“Despite the challenges stemming from chip shortages and rising energy costs, revenues in June marked the highest monthly figure on record. Exports of parts, passenger cars, and bus, midibus and minibus registered double-digit growth, while shipments to Poland and Spain and Portugal increased significantly,” said officials from the association.

Passenger car exports rose by 44 percent to $876 million with shipments to France, Germany and the U.K. increasing 79 percent, 62 percent and 55 percent, respectively.

Local carmakers also boosted their exports to Poland by 214 percent and to Belgium by 284 percent.

In terms of overall exports of the automotive industry, Germany was the largest market. Exports to Germany grew 20 percent to $403 million, while shipments to France rose by 39 percent to $363 million. EU countries’ share in exports was 67 percent or $1.9 billion in June, rising 27 percent from a year ago.

TURKEY, Türkiye, Automotive sales, Economy,