Automotive Exports Surpass $2 Billion In October

automotive-exports-surpassTurkish automotive industry exports surpassed $2bilion threshold in October on monthly basis first time this year, Orhan Sabuncu, Chairman of Turkish Automotive Industry Exporters Association.

The automotive exports exceeded $2 billion in October first time this year, Orhan Sabuncu, Chairman of Turkish Automotive Industry Exporters Association (OIB). “We have been in the heightening trend in last months this year. We have crowned this success in October surpassing $2 billion threshold we have raised our morale, he recorded. The automotive exports have made the sector face smile with the most increase rate and the highest value among the all industrial sectors, according to the data of Turkey’s overall exports in October 2015. In 2014, exceeding $2 billion threshold a few times, the automotive industry even approaching to this figure in recent months but could not have exceed this figure before October this year. Achieving the expected success in October the automotive exports accomplished over $2 billion 31 million with 19 percent increase over the same month last year. However constricting 7 percent, the sector total exports became $17 billion 399 million in the first ten months this year, compared to the same period last year. While increase is seen in all product groups, especially over 50% in special purpose vehicles, bus-minibus-midibus groups took the automotive industry back to successful days last year. The OIB Executive Board Chairman Orhan Sabuncu drew attention to the positive developments happened in the EU countries in recent months. “As the automotive industry, we have been in upward trend in the last months. We have crowned our successful trend in October. We have also raised our morale surpassing $2 billion threshold. As for the reason that lies under the success is 21 percent increase in exports accomplished to the EU countries in October. When we evaluate as rational, we hope the growth rates which were 64% in Slovenia, 43% in Italy, 40% in the Netherlands, 29% in both Belgium and the UK to continue in the upcoming months,” Sabuncu said. In October, the supplier automotive industry exports increased 10 percent to $820 million. This followed by the passenger cars with 5 percent growth to $592 million, special purpose vehicles with 57 percent increase to $479 million, bus-minibusmidibus group with 57 percent to 118 million. As for the other item the sector exports decreased 8 percent to $21 million. In the first 10 months, the supplier industry exports constricted 10 percent to $7 billion 142 million, passenger cars plunged 7 percent to $5 billion 639 million, the special purpose vehicles slightly increased 0.3 percent to $3 billion 430 million, busminibus- midibus group increased 8 percent to $958 million and the sector exports in other items decreased 12 percent to $228 million.