Turkish carmakers produce 1.5 million vehicles in 2018

Published 14.01.2019 19:21
Updated 15.01.2019 00:37

Data from the Automotive Industry Association (OSD), driving the sector with 14 leading members, revealed yesterday that the Turkish automotive industry manufactured 1.55 million vehicles in 2018, slipping by 9 percent compared to the previous year. The OSD report stressed that 2018 was eventful for the Turkish automotive industry, which left behind a tumultuous period swayed by exchange rate volatility, particularly in the summer. However, the report said, positive steps the government took in the last quarter to revive the sector as well as comprehensive incentives gave a new breath to the industry. Automobile production also recorded a 10 percent decrease last year and fell to 1.02 million.

The Turkish automotive market contracted by 35 percent in 2018 compared to the previous year with the sale of 641,541 units, while the automobile market saw a 33 percent shrinkage and a total of 486,321 units of automobiles sold. Last year, automotive exports were recorded at $32.2 billion and the overseas sales of automobiles hit $12.4 billion.

More than 1.3 million vehicles were exported last year. Commercial vehicle manufacturing fell by 5 percent and light commercial vehicle production 6 percent as opposed to the 6 percent rise in heavy commercial vehicle manufacturing. The overall commercial vehicle market shrank by 41 percent in 2018 when compared to the previous year.

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