Turkey’s automotive exports hit highest value since 2008: Association

ANKARA - Anadolu Agency

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Automotive exports from Turkey increased by 17 percent in February, the country’s Automotive Industry Exporters’ Union said on March 7, reaching the highest value since 2008.

Turkey’s automotive exports increased to nearly $2 billion in February compared to $1.7 billion in the same month of 2015, reaching the highest monthly export value since 2008.        
 
“The country’s automotive exports to Germany, the U.K., France, Italy, Spain and other developed countries increased by up to 48 percent, compared with the same period of last year,” Orhan Sabuncu, chairman of the association, said.        

However, Sabuncu said the country’s exports to Russia declined by 33 percent in the same month. 

“The sector aims to reach $23 billion in automotive exports in 2016,” he added.      
 
Out of the country’s $2 billion worth of autos exported in February, over 80 percent (over $1.6 billion worth) of automobiles, commercial vehicles and spare parts went to countries in the EU.    
   
Separately, Turkey’s total exports increased by 3.1 percent to $10.8 billion in the same month, the Turkey Exporters’ Assembly (TIM) reported on March 1.        

Turkey broke an all-time automobile production and exports record last year, according to the Automotive Industrialists’ Association (OSD).        

The country’s automotive producers manufactured 1.4 million cars in 2015 (including cars, light commercial vehicles and tractors) – an increase of 16 percent from 2014.        

Sector exports increased by 12 percent last year compared with the previous year, to 992,000 vehicles.  
     
The sector exported 73 percent of its production last year. Automotive exports were at $21.3 billion in value terms in 2015.