Türkiye's automotive production down 26.7% in August
Türkiye's automotive production fell 26.7% year-on-year in August, with passenger car output dropping 40.4% to 29,398 units. Despite a 17.3% decrease in automotive exports, the domestic market saw a slight 0.4% increase in sales.
- Economy
- Anadolu Agency
- Published Date: 11:09 | 16 September 2024
- Modified Date: 11:10 | 16 September 2024
Türkiye's automotive production dove 26.7% at an annualized pace in August, reaching 53,502 vehicles, according to an Automotive Manufacturers Association (OSD) report released on Monday.
Passenger car output decreased by 40.4% from a year ago to 29,398 units last month.
Automotive exports, including cars and commercial vehicles, also dropped 17.3% to 57,856 units year-on-year.
Türkiye generated $2.7 billion in income from vehicle exports in August, falling 5.1% in the same period.
However, the domestic auto market grew 0.4% from the prior year with total sales totaling 93,792 units.
Major international automakers such as Ford, Honda, Hyundai, Mercedes, Renault, and Toyota operate factories in Türkiye, a significant global auto market.
In January-August, Türkiye's vehicle production fell 7% year-on-year to 877,152 units.
Passenger car production saw a softer annual decline of 4.7%, amounting to 571,575 units in the 8-month period.