Türkiye's automotive production dropped in July, the data from a top industry association showed on Monday, also indicating the output slightly narrowed in the first seven months of the year, compared to the same period in 2023.
The automotive production declined by 13.9% year-over-year in July, totaling 116,569 vehicles, according to a report from the Automotive Manufacturers Association (OSD).
Production of passenger cars fell by 7.7% on an annual basis to 81,434 units last month.
Despite the decline in overall production, automotive exports, including cars and commercial vehicles, increased by 9.2% to 88,334 units during the month. Türkiye earned $3 billion from vehicle exports in July, marking a 9.1% rise from the previous year.
However, the domestic auto market contracted by 17.2% year-over-year, with total sales dropping to 97,430 units. The car market alone shrunk by 16.0% from 87,416 units to 73,396 units, the data showed.
Major international automakers such as Ford, Honda, Hyundai, Mercedes, Renault and Toyota operate factories in Türkiye, a significant global auto market.
From January to July, Türkiye’s vehicle production decreased by 5% compared to the previous year, totaling 823,636 units. Passenger car production saw a slight decline of 2%, amounting to 542,177 units for the same period.
In the first seven months of the year, the total market remained at 698,368 units, parallel to the same period last year. In the same period, the automobile market expanded by 3% to 536,351 units, the OSD data showed.
On the other hand, in terms of units, total automotive exports in the January-July period of 2024 decreased by 1%, compared to the same period a year ago. At the same time, car exports surged by a moderate 1%.
In this period, total automotive exports stood at 581,865 units, while car exports were at 380,383 units, the OSD said.
In the January-July period of 2024, total automotive exports increased by 1% in dollar terms, while in euro terms, they were parallel to the same period last year.
In this period, total automotive exports reached $18.9 billion, while car exports were realized at $6.2 billion, parallel to the previous year. Car exports in euro terms decreased slightly, by 1% to 5.6 billion euros.
