Turkey’s automotive production soars in first five months of 2017: Association
ISTANBULTurkey’s automotive production hit 727,997 units in the first five months of the year with an around 22.5 percent year-on-year increase mainly due to export reasons, data from a leading sector association showed on June 8.
The sector’s production increased 23.5 percent in May, reaching 154,758 units since the same month of 2016, according to data from the Automotive Manufacturers Association (OSD).
When the sub-sections were examined, it was seen that the country’s car output soared to 104,653 units in May with a 36.7 percent year-on-year increase.
The sector’s car production also increased to 506,747 units in the first five months of the year with a 41.1 percent rise compared to the same period of 2016.
While the commercial vehicle production reached 50,105 units in May with a 2.7 percent of year-on-year increase, the production in this area saw a 6 percent decrease in the first five months of the year from the same period of 2016, climbing down to 221,250 units.
Turkey’s automotive exports hit 125,688 units in May with a 33.3 percent year-on-year increase, according to OSD.
The country exported a total of 424,922 units in the first five months of the year with a 31.9 percent increase compared to the same period of 2016.
The domestic market, however, contracted by 9 percent both in May and in the January-May period compared to the same period of 2016.
According to preliminary foreign trade data on the first five months of the year by the Customs and Trade Ministry, the automotive industry made some 40 percent of the annual increase in exports.