Automotive Exports Enjoy Best August Since 2008

automotive-exports-enjoy-bestTurkish automotive sector achieved its best ever August in the exports as of months since the global economic crisis broke out in 2008

Uludag Automotive Industry Exporters’ Association (OIB) has announced the export data in August. The Turkish automotive industry enjoyed best ever in the sector exports as of August months since the economic global crisis  which broke out in 2008, the sector also ranked atop in the sectorial-based accomplishing the bestseller in 5 sectors, according to the statement of the association. Ensuring double digit growth in both passenger cars and special propose vehicles, the automotive industry exported the goods worth $1 billion 364 million in August this year growing 8 percent over the same month last year. In the first eight months, a loss worth $2,1 billion was experienced  based on parity in the exports and in this period foreign sales of the sector became $13 billion 467 million decreasing with 10 percent over the same period last year.

Despite vacation period the exports of the sector did not stall in August. Orhan Sabuncu, Chairman of the Board of the OIB, stating that they would have been in expectation of the positive development in August, added; “The increase was enjoyed in 6 out of 8 most exported countries in August. When we take into consideration of the European Union countries, the growth occurred in the level of 10 percent to this region that we have foreseen before. We predict the continuity of the increase trend in the upcoming period.” When the product groups are considered in the automotive exports, the supplier industry realized exports $646 million with 6 percent decrease in August 2015. The passenger car group exports increased 22 percent to $373 million, the special purpose vehicles surged 41 percent to $240 million, as for bus-minibus-midibus group decreased 5 percent to $80 million. Under the other item the exports boosted 40 percent to $25 million in August 2015.

In the first 8 months this year, the supplier industry plunged 12 percent to $5 billion 609 million, passenger cars
constricted 10 percent to $4 billion 415 million. The special purpose vehicles’ exports decreased 7 percent to $2 billion 541 million; bus-minibus-midibus group exports increased 4 percent to $740 million. Under the other item the sector exports decreased 13 percent to $190 million. As for the exports country-base, Germany ranked first with $231 million with 1 percent decrease; the UK second with $183 million increasing 27 percent, France was third with 26 percent up to $148 million in August year on year. The sector exports to the US surged 102 percent to $66 million, 97 percent up to Spain with $69 million of the exports. In the first 8 eight months, the sector exports to Germany decreased 13 percent to $2 billion 147 million, 7 percent up to the UK to $1 billion 770 million, 14 percent decrease to France to $1 billion 352 million. In this period, the exports to the US increased 84 percent to $477 million.