Automotive Exports Decrease In February

8Automotive exports gained 16 percent share from the Turkey’s overall exports, despite decreasing 7 percent in February

Automotive exports gained $1 billion 705 million in February 2015 decreasing 7 percent year on year, because of euro-dollar parity. Orhan Sabuncu, Chairman of Uludag Automotive Industry Exporters (OIB), stated the automotive exports decreased 7 percent in February, adding the automotive exports were experiencing loses due to euro-dollar parity in recent periods. “If parity lose would not occur, the sector exports would have been $2 billion.” He said despite decrease in the automotive exports the sector share in the overall exports of Turkey became 16 percent and the sector kept its leadership in foreign sales. In the first two months although most of the sectors decreased, automotive industry showed 0.4 percent increase and achieved exports worth $3 billion 434 million, Sabuncu noted

He continued; “Our exports are experiencing loses in recent periods regarding euro-dollar parity. We are also affected from this condition because of exporting 77 percent to the EU countries. When we our products are recorded as dollar that we sell via euro, so we experience loses. In February, we lost some $250 million. Last year in the same period while euro-dollar parity was 1,36; this year the rate decreased by 1,14. If we calculated our exports via dollar having adjusted from the foreign currency effect, our exports value would reach nearly $2 billion.

According to the exports data announced by OIB, while 1 percent lost experienced in the exports to the EU countries, meanwhile the sector’s exports increased 22 percent in the UK, 44 percent in Spain and 100 percent in the US. Increase was observed in buses, minibuses, vans and special purpose vehicles in the exports. The supplier industry exports decreased 14 percent to 685 million in February. Passenger cars recessed 6 percent to 564 million, special purpose vehicles increased 4 percent to 344 million; bus, minibus and vans expanded 30 percent to $96 million in February

In the first two months this year, the supplier industry exports decreased 14 percent to $1 billion 382 million, the passenger cars increased 5 percent to $1 billion 144 million, special purpose vehicles expanded 26 percent to $698 million; bus, minibus, van group surged 38 percent to $168 million. As for country-base exports, despite decrease Germany kept its leadership in the Turkish automotive exports with 12 percent plunge in February. Upward trend continued to the UK with 22 percent growth. The sector exports decreased 4 percent to France, 2 percent to Italy; the export figure expanded 100 percent to the US and 44 percent to Spain in February.