Turkey’s auto production surpasses 1 million in 10 months
Turkey's automotive production, including light commercial vehicles, tractors, and automobiles, surpassed 1 million in this January-October period, a sectoral report revealed on Monday.
The Automotive Manufacturers Association (OSD) said the 10-month figure was down 16% compared to the same period last year.
EXPORTS NARROWED COMPARED TO LAST YEAR
The country's automobile production also slipped 15% year-on-year in the first 10 months of this year.
The sector was smashed by the coronavirus outbreak, OSD head Haydar Yenigun said, adding: "Even if there are adverse effects [of coronavirus] for our industry in the short term, we do not expect any negative effects in the medium and long term."
Automotive industry exports narrowed 21% on a dollar basis to $20.4 billion in the first 10 months, compared to last year.
The export value of the automobile sector slipped by 24% year-on-year to $7.3 billion, the report added. The sector exported 720,208 units during the 10-month period. In October, auto production posted an annual rise of 14% to 150,746.