Automotive production increased 37 percent in July

ISTANBUL

The automotive industry’s production recorded a 37.4 percent increase in July from a year ago to nearly 94,000 units, data from the Automotive Manufacturers’ Association (OSD) have shown.

Local companies’ passenger car output rose by 41.5 percent on an annual basis to 51,243, the OSD said, adding that commercial vehicle production grew nearly 33 percent to 42,400 units.

The automotive market expanded 11.2 percent year-on-year as a total of 55,300 vehicles were sold last month. Passenger car sales grew 13 percent in July from the same month of 2021 to more than 41,000 units.

Türkiye imported some 30,000 vehicles last month, up 1.2 percent, with passenger car imports rising 2.2 percent to 23,300.

Last month, the local automotive industry boosted its exports by 16.2 percent on an annual basis as it delivered 59,600 vehicles to foreign markets, and the sector’s total export revenues amounted to $2.1 billion, up 3.5 percent from July 2021.

Passenger car exports also rose by 4 percent to more than 27,000 units, but revenues from passenger car exports plunged 7.2 percent year-on-year to $516 million.

The automotive industry produced 743,000 vehicles from January through July this year, up from 708,000 vehicles manufactured in the same period of 2021.

Passenger car output in the first seven months of the year, however, plunged 4 percent year-on-year to 434,000 units.

From January to July, a total of 431,000 vehicles were sold on the local market, marking a 6.7 percent decline from a year ago, with the sales of passenger cars falling 4 percent to 434,000 units.

The automotive industry’s export revenues increased by 5.1 percent in January-July on an annual basis to reach $17.6 billion. But passenger car exports declined 7.1 percent to $5 billion.