Automotive output in Türkiye drops by 26.7 percent last month

(MENAFN) In August, Türkiye's automotive production saw a significant decline of 26.7 percent compared to the same month the previous year, with the total output dropping to 53,502 vehicles, according to the Automotive Manufacturers Association (OSD) report released on Monday. This marked a sharp decrease in the country's automotive manufacturing activity, reflecting ongoing challenges within the sector.

Passenger car production experienced an even steeper decline, plummeting by 40.4 percent year-on-year to 29,398 units. This sharp drop underscores the struggles faced by the automotive industry in Türkiye, with reduced output in the passenger vehicle segment contributing heavily to the overall production decrease.

Automotive exports, encompassing both cars and commercial vehicles, also faced a significant downturn, falling by 17.3 percent to 57,856 units compared to the previous year. The export revenue from these vehicles totaled USD2.7 billion in August, marking a 5.1 percent decline from the same period last year. This drop in export performance highlights the broader challenges in the global automotive market that are impacting Türkiye's export figures.

Despite the struggles in production and exports, the domestic automotive market showed some resilience. Sales within the country grew by 0.4 percent year-on-year, reaching a total of 93,792 units in August. This slight increase in domestic sales provides a partial offset to the declines seen in production and export volumes.

For the period from January to August, Türkiye's overall vehicle production fell by 7 percent year-on-year, totaling 877,152 units. Within this timeframe, passenger car production showed a less severe decline of 4.7 percent, with 571,575 units produced. This ongoing reduction in output reflects both domestic and global challenges faced by Türkiye's automotive industry, including shifts in market demand and economic pressures.

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