Auto exports up by 40 percent in March

Cem Özenen – ISTANBUL

Auto exports up by 40 percent in March

The automotive sector leading Turkish exports for 15 years has posted the second-highest March figures this year, according to data released by an industrial group.

Automotive exports increased by 40 percent to $2.9 billion in March, the Automotive Industry Exporters Association (OİB) data showed.

The sector targeting a yearly total of $30 billion in exports made exports valued $7.7 billion in the first quarter, up by 10 percent.

The base effect was seen in March figures as the country was first hit by the coronavirus pandemic in March 2020, OİB Head Baran Çelik said.

“We posted double-digit increases in exports in the supply industry, passenger car and goods transport motor vehicle subgroups, as well as in nine of the top 10 export markets in March,” he added.

Automotive supply industry exports rose 36.5 percent to $1.05 billion in March, while passenger car exports increased 31 percent to $1.04 billion and transport vehicle exports were up 82 percent to $549 million.

However, bus, minibus and midibus exports contracted 4.5 percent to $98 million in March.

Germany was the top market for automotive supply industry exports in March with an increase of 51 percent. In the same subgroup, it was followed by Italy (102 percent increase), France (39 percent increase), the United States (35 percent increase), Russia (65 percent increase), the United Kingdom (23 percent increase) and Poland (58 percent increase). Meanwhile, the automotive supply industry exports to Romania dropped by 34 percent.

France was the top market for passenger car exports in March with an increase of 93 percent. In the same subgroup, it was followed by Italy (162 percent increase), Spain (62 percent increase), Germany (94 percent increase), Poland (62 percent increase) and Egypt (49 percent increase). The passenger car exports to Israel dropped by 28 percent in the same month.

Prominent automotive manufacturers including Fiat, Ford, Honda, Hyundai, Renault and Toyota have manufacturing operations in Turkey, which is among the world’s top auto sale markets.

Turkey’s car and light commercial vehicle sales grew 60 percent year-on-year in the first quarter of this year, according to the Automotive Distributors’ Association (ODD).

A total of 156,464 cars were sold in the first three months, up 57 percent, while the LCV market grew by 70.3 percent, with 42,196 sales.

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Source Link: https://www.hurriyetdailynews.com/auto-exports-up-by-40-percent-in-march-163710

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