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Turkey’s automobile production hits 10-year high in Q1

by ChemOrbis Editorial Team -
  • 13/04/2017 (13:38)
According to Turkish Automotive Manufacturers Association (OSD), automobile production in Turkey increased by 44% in Q1 of 2017 on a yearly basis to reach about 300,000 units and hit a record of 10 years.

Total automotive production during the same period was also up by 23% annually while the automotive market shrank by 8%.

The data showed that Turkey’s automobile exports soared by 89% on a dollar basis in Q1 of 2017 when compared to the same period of last year at $3.013 billion while total automotive exports climbed by 25% to $7.085 billion year-on-year. The monthly increase of 32.5% in the country’s automotive exports in March was also the highest monthly increase of all times.

The exports to major automotive importers from Turkey, which are Italy, the UK and Germany, climbed respectively by 44.2%, 20% and 11.5% on year.
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