Turkey’s vehicle production down 4% y/y in May

Turkey’s vehicle production down 4% y/y in May
By bne IntelliNews June 11, 2018

Turkey’s auto production has declined for the second consecutive month, falling by 4% y/y to 148,304 units in May following the contraction of 7% y/y in Aprildata from the Turkish Automotive Manufacturers’ Association (OSD) showed on June 11.

Across January-May, total vehicle production declined by 2% y/y to 711,999 units while passenger car production alone fell 7% y/y to 471,634 units.

Total vehicle sales on the domestic market fell by 4% y/y to 311,566 in January-May while export revenues rose by 18% y/y to $14.2bn despite a 3% y/y decline to 577,820 units in sales abroad.

The Turkish Automotive Distributors’ Association (ODD) previously reported on June 4 that vehicle sales in Turkey fell by 5% y/y to 302,311 in January-May.

Turkey's vehicle sales decreased by 2.8% to 983,720 units in 2017. The ODD forecasts that auto sales will amount to between 925,000 and 975,000 vehicles in 2018.

In 2017, Turkey’s auto production increased by 13% y/y to a record high of 1.67mn units thanks to rising exports. In 2016, the country’s automotive output increased by 9% to 1.49mn units.

 

 

Data

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