Turkey's automotive production, exports set new records in 2015
by Daily Sabah
ISTANBULJan 07, 2016 - 12:00 am GMT+3
by Daily Sabah
Jan 07, 2016 12:00 am
With projects and investments initiated and the general economic recovery in Turkey's major export market, Europe, the automotive industry production has increased by 16 percent in 2015 when compared to the previous year.
The automotive industry's increase was a record, equaling the production of 1.36 million units in 2015. According to the Automotive Manufacturers Association (OSD), the exports in the sector also rose by 12 percent to 992,000, again a new record in the history of the sector. Automotive exports accounted for 15 percent of Turkey's total exports in 2015.
OSD Board Chairman Kudret Önen noted that 73 out of each 100 cars were exported.
According to a written statement from the association, thanks to the investments over the last five years, the sector's production capacity increased from 1.5 million units to 1.7 million units. Furthermore, the association's estimate for production in 2016 is 1.9 million units. The increase was primarily due to the recovery in the European markets and the commissioning of the past years' investments. The sector's highest level of production until this record was 1.1 million units in 2011.
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