Turkey's automotive output declines 15.4 percent annually in November
Date
12/17/2024 4:26:29 AM
(MENAFN) Turkey's automotive production experienced a 15.4 percent year-on-year decline in November, marking the ninth consecutive month of reduced output, according to the Turkish Automotive Manufacturers Association (OSD). In total, Turkish automakers produced 117,377 vehicles in November. This decline was largely driven by a drop in passenger car production, which fell 17.4 percent compared to the previous year, with 80,058 units manufactured.
In terms of exports, Turkey's automotive sector also saw a decrease. The country exported 89,187 vehicles in November, including both cars and commercial vehicles, down from 96,744 units in October. These exports generated USD3.2 billion in revenue, reflecting a slight 0.5 percent year-on-year decrease. This slowdown in exports has been a contributing factor to the overall challenges faced by the Turkish automotive industry.
However, the domestic auto market showed some positive signs, increasing by 4.7 percent year-on-year in November. A total of 125,132 vehicles were sold, indicating some resilience in local demand despite the struggles in production and exports.
From January to November, overall vehicle production in Turkey dropped by 8.1 percent compared to the same period last year, totaling 1.2 million units. Passenger car production also fell by 6.2 percent, with 822,361 units manufactured during the same period, highlighting ongoing difficulties in the sector.
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