According to the January-July period report of the Automotive Industry Association (OSD), at the end of 7 months, total automotive production decreased 26.72 percent, while exports fell 36.12 percent in units and 28.79 percent in amount.
MARKETS LOST
In other words, the vitality experienced in the domestic market was not reflected in automotive production and exports. Undoubtedly, the losses in Europe, the largest export market, were influenced by the pandemic.
Despite the 384 percent increase in the domestic market in July, there was a loss of 11.84 percent on the production front. This was due to the 33.29 percent decrease in exports and the high share of imports in growth in the domestic market. In other words, while the domestic market grew 384 percent in July, the growth in imports reached 390 percent.
AUGUST LOSSES AND GROW
At the end of 7 months, the exports of the Turkish automotive industry declined to 13.2 billion dollars. Exports of 7 billion dollars were realized in the first 18.5 months last year. It is clear that production and export volumes will decrease further in August, with all factories excluding Hyundai. - Emre Özpeynirci / Sözcü
Be the first to comment