Turkish automotive sector hits record high output, exports: Association

ISTANBUL

AFP photo

Turkey’s automotive sector hit record highs in both production and exports in 2015, according to data from the Automotive Manufacturers’ Association (OSD).

The country’s production increased by 16 percent compared to 2014 to around 1.4 million units in 2015, while exports increased by 12 percent to 992,000 units, said the OSD in a written statement on Jan. 7. 

“Thanks to rising investments, we have posted record high growth levels for the last couple of years,” said OSD President Kudret Önen. “Our exports increased by 12 percent last year compared to 2014. Although our exports regressed by 5 percent on a dollar basis due to the loss in the euro’s value against the dollar, our exports increased by 14 percent on a euro basis in 2015 compared to 2014. Our sector remained Turkey’s largest exporter by making up around 15 percent of the [country’s] total exports.” 

He noted Turkey’s annual production capacity increased from around 1.5 million units to 1.7 million units in the last five years thanks to new investments, adding that a further rise is expected in 2016. 

Turkey ranked first in light commercial vehicle production in Europe and seventh in car production in the first nine months of 2015, he said. 

“While we ranked 17th in the world’s automotive production in 2014, we rose to 16th in the first nine months of 2015,” Önen noted.