Automotive Exports Expand In EU Market

automotive-exportTurkish automotive industry exported to 140 countries worth $1,1 billion, as for the 27 EU member countries the sector exports enjoyed an expansion with $4,4 billion in the first quarter.

The Turkish automotive industry exports reached by $5 billion 544 million, 80 percent of the sector exports shipped to the European Union countries in the first quarter this year. Accessing 167 countries’ market, while the exports of the automotive industry became $1 billion 117 million in 140 countries, as for the exports to the 27 EU countries realized worth $4 billion 426 million in the first quarter this year. In this period, Turkish automotive sector achieved exports in 167 countries, autonomous region and 12 free zones across the 5 continents, according to the data prepared from the Automotive Industry Exporters Association and Turkish Exporters Assembly. While overall automotive exports increased 6.57 percent, the export increase rate surged 10.08 percent in the EU market in the first quarter. The 27 EU member countries have increased its weight in the Turkish automotive sector exports with worth $4 billion 427 million in this period. Germany ranked atop in the EU countries in the sector exports with 18.48 percent increase accounting for $961 million in January – March. This country followed by the UK with $648 million despite decreasing 10.29 percent, and then Italy with $566,5 million increasing 25.5 percent. The sector exports increased 6.59 percent to $556,5 million in France and 9.7 percent increase to $318,4 million in Spain. In this period, the sector increased its exports in 17 EU countries and decreased in 10 countries. The OIB Executive Board Chairman Orhan Sabuncu in his announcement said the effects of the economic crisis had been felt since 2008 onwards in the EU market, it also reflected to the sector exports as well. Indicating the remarkable developments had been experienced in the EU automotive market in recent time, Sabuncu said, “The expansion has become in the rate of 8-10 percent and still this expansion, sales increase are continuing. This is very important in terms of us.” Pointing out Turkey’s exports had increased in the EU market, Sabuncu said, “Last year, Turkish automotive sector accomplished 75% of its exports to the EU. Regarding the expansion in the European market the share of the EU in the sector raised 80 percent in the first three months. This is very noteworthy development. On the other hand, it is a good thing, but on the one side a possible constriction that we experienced in the past years, would affect us in a very negative way. Nevertheless, the EU is the best market of ours.”

#EUMarket #EU #Turkishautomotiveindustry #Turkishautomotive

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