Automotive exports hit $2.4 billion in August

BURSA

Turkey raked in $2.4 billion in automotive exports in August, according to a statement released by a sectoral group on Sept. 5.

Automotive exports rose 57 percent year on year in August, taking a share of 12.8 percent of the country’s overall exports, the Uludag Automotive Industry Exporters’ Association (OİB) said.

In the first eight months of this year, automotive exports jumped 29 percent compared to the same period last year and brought $18.8 billion in revenues, it added.

Automotive companies operating in Turkey exported products worth $311.2 million to Germany in August, up 23 percent on an annual basis.

Automotive exports to the United Kingdom skyrocketed 211 percent to $297.4 million in August. Exports to France, Slovenia and Italy followed with $260 million, $185.6 million and $179 million, respectively.

Sales of passenger cars and light commercial vehicles in Turkey jumped 24.3 percent year on year in January-August, an industry group report showed last week.

Some 501,000 vehicles were sold across Turkey in the first eight months of this year, the Automotive Distributors’ Association (ODD) said in a statement.

Prominent automotive manufacturers, including Fiat, Ford, Honda, Hyundai, Renault and Toyota, have manufacturing operations in Turkey, which is among the world’s top auto sale markets.