Automotive exports top $3 billion in June

ISTANBUL

The Turkish automotive industry’s exports grew by 9 percent year-on-year in June to more than $3 billion, according to the Automotive Industry Exporters’ Association (OİB).

For a third time this year, monthly exports were above the $3 billion mark, said Baran Çelik, the board chair of OİB.

The share of the automotive sector in Türkiye’s export revenues was 16.7 percent in June, making it the largest exporting industry.

Passenger car exports grew 12 percent to $984 million, while bus, minibus and midibus exports were up 45 percent to $205 million.

Passenger car shipments to France, Spain and Poland grew by 18 percent, 112 percent and 34 percent, respectively, but exports to Italy and the U.K. fell by 2 percent and 28 percent.

The automotive supplier industry’s export revenues remained unchanged from June last year to stand at $1.19 billion.

France was the top export market for local carmakers. The industry’s total exports to France amounted to $400 million in June, rising 10 percent from a year ago. Exports to Germany were down 4 percent to $388 million.

The U.K.’s imports from the Turkish automotive industry stood at $284 million, unchanged from June last year. Exports to Israel and Russia increased by 129 percent and 82 percent to $81.2 million and $81.6 million, respectively.

The EU’s share in the industry’s exports was nearly 68 percent or more than $2 billion in June.

In the January-June period, the industry’s export revenues amounted to $17.3 billion, rising 13.7 percent from the first half of last year.

Local companies’ revenues from passenger car exports increased by 19 percent in the first half of 2023 to $5.45 billion, while the suppliers sub-industry’s export revenues exhibited an annual increase of 11 percent to $7.2 billion.

The monthly average export revenue of the automotive sector was $2.9 billion this year, OİB said.

Carmaker Tofaş said that production at its Bursa plant will be suspended between Aug. 7 and Aug. 30 due to the planned annual leave and maintenance-repair works.

“In the said period, our employees will use their annual leave progress payments, and only maintenance and revision works will be carried out with the personnel on duty in our factory,” the company said in a filing with Borsa Istanbul.