Turkey's auto industry produces 360,000+ vehicles in Q1

Automakers in Turkey produced 361,516 vehicles -- including automobiles, light commercial vehicles, and tractors -- in the first quarter of 2019, according to a sectoral report on Saturday.

In the January-March period, Turkey's auto production dropped 15% on a yearly basis, said the Automotive Manufacturers Association (OSD).

The report said 89% of manufactured vehicles were exported, marking a 7% annual decline to 320,213 units.

The country's automotive exports totaled some $7.9 billion in the three-month period, down 6% from a year ago.

The association also said Turkey's overall auto sales market narrowed 45% year-on-year to 90,888 vehicles.

Top international automakers -- including Ford, Honda, Hyundai, Mercedes, Renault, and Toyota -- have factories in Turkey, one of the world's top auto sale markets.

In 2018, a total of 641,541 vehicles were sold in Turkey, with passenger cars taking a 75.8 percent share.

Last year, Turkey produced nearly 1.6 million vehicles, earning $32.2 billion from exports of some 1.3 million vehicles.