Auto exports exceed $2B, domestic market shrinks

DAILY SABAH
ISTANBUL
Published 04.11.2015 22:54

Turkey's automotive exports exceeded $2 billion in October for the first time in 2015 despite the weak Turkish lira, the Automotive Industry Exporters' Union (OİB) announced on Wednesday. Automotive exports increased 19 percent in October compared to the same month of 2014. The 21 percent increase of automotive exports to European countries was the main reason behind the growth. Exports for light commercial vehicles, including buses and minibuses, increased 50 percent.

Domestic automotive sales shrunk 3.48 percent in October compared to the same month last year, despite 34.7 percent growth during the January-October period of 2015, the Automotive Distributors' Association (ODD) announced Tuesday. The largest decrease in October was 5.63 percent in the automobile category, while light commercial vehicle sales increased 3.48 percent.

By the end of 2015, ODD expects 900,000-950,000 vehicles will be sold in Turkey.

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