Automotive production down 11 pct in 2020

Automotive production down 11 pct in 2020

ISTANBUL-Anadolu Agency
Automotive production down 11 pct in 2020

Automotive production and exports in Turkey decreased by 11 percent and 27 percent, respectively, year-on-year in 2020, the country's Automotive Manufacturers Association (OSD) said on Jan. 17.

Last year, the automotive industry made the lion's share of the country's overall exports with 15 percent, the association said in a press release.

While total automotive production, which includes all types of vehicles, was nearly 1.3 million units, total automobile production was just 855,043, down 13 percent on a yearly basis.

Automotive exports totaled 916,543 units, while automobile exports were 596,616 units, down 28 percent over the same period.

Commercial vehicle production also narrowed in 2020, down 9 percent year-on-year.

Last year, the automotive industry's exports totaled $25.9 billion, while the capacity utilization rate was 65 percent.

The COVID-19 pandemic, which first appeared in December 2019 in China, affected several economic activities all around the world, especially in the EU, affecting many of Turkey's main export destinations.