ECONOMY

Turkey's auto production hits record high in Jan-Sept

TURKEYS AUTO PRODUCTION HITS RECORD HIGH IN JAN-SEPT

Turkey's automotive production surged to a record high with strong exports in January-September, according to data revealed by the Automotive Manufacturers Association (OSD) on Wednesday.

Automotive production in the first nine months of the year rose 18 percent year-on-year, hitting an all-time high, OSD said in a montly report.

Automakers in the country produced nearly 1,262,572 vehicles -- including automobiles, light commercial vehicles, and tractors -- between January and September, while automobile production rose to 838,976, an increase of 31 percent compared with the same period last year.

The production of light commercial vehicles, on the other hand, dropped 2 percent in the same period.

The overall auto sales market (including light trucks and other vehicles) also fell 2 percent in January-September to 970,834 with car sales dropping to 714,056, a decline of 3 percent year-on-year.

According to the data, the sector's exports rose 24 percent to 984,404 in the first nine months of 2017 compared with the same period last year.

The export value was $21.1 billion, a rise of 22 percent year-on-year. The export total in January-September 2016 was $17.3 billion, based on figures announced by the Turkish Statistical Institute, the report said.

The country's automakers manufactured nearly 134,247 vehicles in September, an increase of 13 percent compared with 118,391 in the same month of last year.

Turkey is one of the world's top 20 auto markets, with major operations for Toyota Motor Corp., Renault joint venture Oyak Renault, Fiat Chrysler's unit Tofas, Ford Otosan, and Hyundai Motors.

Contact Us