Türkiye's automotive industry, the long-term leader in exports, achieved a new monthly record in shipments, which came in at nearly $4 billion (TL 157.24 billion) in May, according to the official data.
According to a statement from the Uludağ Automotive Industry Exporters’ Association (OIB), the sector reached an export figure of $3.95 billion last month, marking an increase of 23% compared to the same month the previous year.
Meanwhile, the automotive industry's exports for the January-May period came in at nearly $16.6 billion, up 10% year-over-year.
The sector’s share in the country's total exports was 18.3%.
Passenger car exports, a significant sub-product group of the sector, increased by 12% in May to $1.32 billion, according to the data. The largest product group considering export volume, the supply industry, on the other hand, achieved sales worth $1.41 billion last month, reflecting a 3% increase.
Exports of motor vehicles for transporting goods jumped by 119% to $746 million, while the shipments from the bus-minibus-midibus category rose by 15% to $277 million and exports of towing vehicles surged by a staggering 309% to $148 million.
Countrywise, in May, exports to Germany, the sector’s largest market, increased by 29% to $623 million, the data revealed.
The U.K. became the second-largest market with an export volume of $450 million, reflecting a 36% year-on-year rise. Meanwhile, exports to France, the third-largest market, fell slightly by 1% to $385 million last month.
At the same time, notable increases in exports were recorded for Spain (up 39%), Slovenia (up 143%), Poland (up 21%), Belgium (up 110%), Romania (up 52%), Portugal (up 110%), Austria (up 174%) and Morocco (up 40%).
In terms of country groups, the European Union, which received 71.5% of automotive exports, remained the largest market. Exports to EU countries in May increased by 28% to $2.82 billion.
Other European countries ranked second with a 13.4% share, and exports to this group rose by 34%.
In the statement, OIB Chairperson of the Board Baran Çelik said, “As the automotive industry, we achieved the highest monthly export figure to date with nearly $4 billion in May. The rise in exports was particularly driven by the production of new models in commercial vehicles."
"In May, our exports of motor vehicles for transporting goods and towing vehicles recorded triple-digit growth, and we achieved export increases of 143% to Slovenia, 110% to Belgium, and 52% to Romania," he stated.
