Published On: Thu, Apr 5th, 2018

Automotive exports, driving force of Turkish economy breaks record in March 2018

Automotive exports, driving force of Turkish economy breaks record in March 2018

Automobile Plant, Turkey – BusinessTurkeyToday.com

Turkey’s automotive exports which is the major driving force behind the country’s economy, managed to break another record in exports in March 2018. The sector had already broken a record with a figure of over USD 3 billion in February, as well. The good news came when the industry saw an increase of 16 percent in exports in a short period of 30 days, only. The total amount of exports realized in March 2018 reached USD 3.14 billion breaking another record on monthly basis. Thus, the sector realized 21 percent share of all of Turkey’s exports, alone.

The automotive sector had closed 2017 with record breaking figures as well both in production and exports. According to data provided by the Automotive Industry Association (OSD), the production of the sector increased by 13 percent reaching 1 million 674 thousand units which was the peak in about half a century in the history of the Turkish automotive industry.

Automobile production which exceeded 1 million target before the end of the year in 2017 was realized as 1 million 121 with an increase of 18 percent compared to the previous year. The increase in the production of automobiles made by the industry has been a major success as it has grown almost twice in the last 10 years.

The champion companies of the automotive industry sector in the year 2017 were also announced earlier. Ford Otomotiv was top of the list with USD 28.5 billion worth of exports last year followed by Toyota Automotive and Tofaş.





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