Leader of Turkish economy for 11 consecutive years, the automotive industry, has achieved an all-time high record one month before the end of the year. Orhan Sabuncu, Chairman of Uludag Automotive Industry Exporters Association (OİB) said new record of $26 Bn in First 11 months has been set by the automotive industry in terms of an export, industry broke previous record of $24.7 Bn achieved in year 2008.
According to OIB data, compared to last year sector's export has been grew by 21%, and is poised to be the export champion for the 12th time in a row, the automotive industry's exports amounted to $2.6 Bn in November, up 17 percent from the same period last year. $2.6 Bn is the sector's 2nd highest monthly figure in its history, following $2.7 Bn in exports last march.
The automotive sector contributed 19.4% of Turkey's overall export in November, The industry carried out exports of more than $2 Bn on a monthly basis, with the exception of August 2017, industry has achieved $2.4 Bn monthly average export figure.
Sabuncu said the export growth in all primary commodity groups took place in double digits in private cars, sub-industry and motor vehicles for goods transport in November. Exports to Germany, which remains the largest market for the industry, soared by 3 % and to the U.S. by 145 %. The export of private cars and the export of sub-industry products by 100 % and 39 % respectively had an impact on the increase in exports to the U.S.
Private car exports of Turkish automotive industry has soared by 13% to $1.077 Bn among other commodity groups in November, while the automotive sub-industry exports surged by 22 % to $905 Mn. With a 21% hike the exports of motor vehicle for goods transport reached $471 Mn, and the exports of buses, minibuses and midi buses increased by 3 % to $136 Mn in the same month.
Considering key markets, export to Germany which is largest market for automotive sub-industry has increased by 19%, exports to Italy rose by 16%, to Romania 41%, to the U.S. by 39%, to Russia by 67% and to Belgium by 23%. Considering market for private auto mobiles, exports to Italy dropped by 5 %, to France by 18 % and to Germany by 27 %, while exports to the U.S. soared by 100 %, to Belgium by 89 %, to Israel by 56 % and to Morocco by 100 %. As far as the export of motor vehicles for goods transport goes, exports to the U.K., the largest market, grew by 57 %, to France by 62 %, to Belgium by 34 % and to the Netherlands by 71 %, while exports to the U.S. fell by 10 % and to Slovenia by 11 % in this area.
The highest exports of 49% were carried out to Germany in the group of buses, minibuses and midi buses, while exports to France and Romania, the two other key markets, rose by 73 % and 69 %, respectively. On the other hand, exports to Italy and Hungary in this group declined by 33 % and 47%, respectively.