Automotivesector plays a vital role in Türkiye’s economic growth. In the January-November period this year, there was a remarkable increase in Türkiye’s automotive exports. With an export share of 15.3% compared to previous years, Türkiye increased its dominance in the international market. So, what are the factors behind this growth? What kind of road map is being followed? Here are all the details about Türkiye’s automotive industry.
Records in Automotive Exports
The automotive sector has an important place in Türkiye’s exports. Data obtained in the January-November period reveals that this area shows strong growth. For example, supply industry exports increased by 5.1% compared to last year, reaching 14.444 billion dollars. This increase shows the security of the supply chain and the strengthening of production capacity.
The Rise in Passenger Cars
passenger carExports, which reached 11.692 billion dollars with an increase of 5.7% in the sub-sector, reveal the solidity of market demand. It is predicted that these figures may rise even further at the end of the year because additional export opportunities are available.
Strong Performance in Transport Vehicles
Motor vehicles for transporting goodsThe group’s exports increased by 30% to 6,492 billion dollars. While light commercial vehicles hold an important place in this category, the records achieved in previous years are expected to be exceeded. Jumps are also observed in other important categories; for example, buses, minibuses and midibusesExports grew by approximately 30% and reached 2,985 billion dollars.
Germany is the Most Important Market
Germany maintains its position as Türkiye’s largest automotive exporting country. In the January-November period, exports to Germany increased by 39% and reached 6.143 billion dollars. France increased by 15% to 4.398 billion dollars, and the United Kingdom increased by 2% to 3.853 billion dollars. Spain and Italy also reached significant figures of $3.166 billion and $3.024 billion, respectively. These data show the continuity of demand in European markets.
Sustainable Growth Strategies
Türkiye continues to make investments for sustainable growth in the automotive industry. R&D, production efficiency and supply chain resilienceInvestments made in critical areas such as support the developments in the sector. Additionally, automotive exports high value added productsAnd international standardsIt gets stronger with. Innovative solutions and investments in technologies such as electric and hybrid vehicles accelerate the transformation processes in the sector.
Latest Data and Future Expectations
Türkiye’s automotive exports in the January-November period show the level of growth in the sector. Records in sub-sectors and demand in main markets stand out as important factors supporting this success. In addition, it is predicted that this dynamic structure will raise Türkiye’s export targets even higher by 2024. Türkiye’s automotive innovations and the wind of change appear to be an important factor in increasing competitiveness in the sector.
