Automotive exports reached $2.65 billion in October

According to the statement of the Uludağ Automotive Industry Exporters Association (OIB), the Turkish automotive industry’s exports in October increased by 1.8 percent compared to the same month of the previous year and amounted to $2.65 billion.

Increasing its share in total exports to 12.4 percent, the auto industry’s exports in the January-October period this year increased by 5 percent compared to the same period last year and reached 25 billion of dollars. The average monthly export of the sector in 10 months was 2,500 million dollars.

13 PERCENT INCREASE IN SUPPLY INDUSTRY EXPORTS

Looking at the by-product groups of the automotive industry, the “supply industry”, which achieved exports of 1,000 million 69 million dollars with an increase of 13 percent, registered as the largest product group in the sector’s exports. .

While “passenger car” exports fell 20 percent to $748 million in October, “freight motor vehicle” exports fell 4 percent to $448 million.
In October, the highest rate of increase in exports was recorded in the “tractors” group. The export of cranes increased by 95 percent and reached 214 million dollars.

EXPORTS TO GERMANY INCREASE 15 PERCENT

In October, exports to Germany, the largest market, rose 15 percent to $404 million.

Although the United Kingdom is the second largest market with an export figure of 285 million dollars, exports to this country increased 9 percent compared to the same month of the previous year. Exports to France, the third-largest market, fell 12 percent to $252 million.

In October, exports increased by 32 percent to Belgium, 23 percent to Russia, 21 percent to Romania, 79 percent to Portugal and 81 percent to the Czech Republic.

DOUBLE-DIGIT INCREASE IN GERMANY, BELGIUM AND RUSSIA

OIB board chairman Baran Celik, whose views were included in the statement, said the risk of a global recession increased with the inflation problem.

Çelik stated that the increase in automotive exports continued despite the contraction in the Eurozone, saying: “In October, we rose to the top spot in sectoral exports on a monthly basis. Most of the exports were again recorded in the procurement industry. Our exports of the supply industry, cranes and buses, microbuses and midibuses increased by double digits. We recorded double-digit increases for Germany, Belgium and Russia.” he made the appraisal of it. (AA)