Turkey’s auto production declined by 3% y/y to 124,347 units in January, after contracting 3% y/y in the previous month, data from the Automotive Manufacturers’ Association (OSD) showed on February 26.
Passenger car production that exhibited an 11% y/y drop in December 2017 declined by 9% y/y to 85,368 units in January.
On an annual basis, total auto sales were unchanged at 36,053 units but passenger car sales increased by 4% y/y to 26,611 units.
The industry’s export revenues jumped 12% y/y to $2.33bn in the first month of the year. That followed a 7% rise recorded in the previous month.
Turkey's vehicle sales declined by 2.8% to 983,720 units in 2017. The Turkish Automotive Distributors’ Association (ODD) forecasts that auto sales will amount to between 950,000 and 1mn in 2018.
In 2017, Turkey’s auto production increased by 13% y/y to a record high of 1.67mn thanks to rising exports. In 2016, the country’s automotive output increased by 9% to 1.49mn units.