Automotive Exports Experience Slowdown

automotive4In the first seven months this year, the automotive sector exports reached $12 billion 135 million plunging 11.5 percent as value over the same period previous year

The Turkish automotive exported products worth $1,644 billion constricting 17 percent in July year on year. In the first seven months of the year, the sector exports reached $12 billion 135 million plunging 11.5 percent over the same period last year. The sector export data was released by Uludag Automotive Industry Exporters’ Association (OIB). Despite plunge of the automotive exports in July; the sector sustained its sectorial leadership in the overall exports of Turkey. Although the sector exports increased 13 percent in Spain, 147 percent growth in bus-minibus-midibus group exports to the UK, 21 percent in the supplier industry exports to the US; but losses were experienced in the exports shipped to Germany, France and Italy

While plunge experienced 17 percent in value-base, 2 percent in weight-base, as for amount-base 9.5 percent increase was enjoyed in the sector exports in July. As for the product groups are regarded, the supplier industry exports reached worth $681 million decreasing 12 percent in July. This month passenger car exports decreased 32 percent to $485 million. The special purpose vehicles constricted 2.5 percent to $367 million, this followed by the bus-minibus￾midibus group exports decreasing 7 percent to $90 million. Under the other items the sector exports became $21 million with 29 percent constriction. In the first 7 months this year, the supplier industry plunged 13 percent to $4 billion 965 million, passenger cars to $12 billion 42 million with 12 percent decrease, the special purpose vehicle decreased 10 percent to $2 billion 301 million; in this period bus-minibus-midibus group exports boosted 5 percent to $660 million

The country-based, the most sector exports shipped to Germany as previous periods even though decreasing 25 percent to $238 million, export decrease was 18 percent to $214 million to the UK, 10 percent decrease worth $166 million to France. Increase in the sector exports to Spain was 13 percent to $100 million, the US export increase was 111 percent to $71 million, to Slovenia was 19 percent to $53 million in July 2015. In the first 7 months, the sector exports decreased 15 percent to $1 billion 915 million, 5 percent up worth $1 billion 587 million to the UK; the exports to France decreased 18 percent to $1 billion 204 million. The export growth to the US was 81 percent to $411 million, 10 percent up worth $645 million to Spain in the first seven months.