Yeni Safak – The lights are all green for Turkey’s automotive industry to reach record levels of production and exports according to the head of the Turkish Automotive Manufacturer Association (OSD).
“The strong recovery in the European market has lifted the Turkish automotive industry’s exports by 8 percent and the export revenue by 12 percent, offsetting the negative effects of the contraction in the domestic market”, Kudret Onen said, assessing the industry’s performance during the first six months of the year. EU is the major recipient of Turkey’s export goods and motor vehicles usually top the list of the country’s shipments.
For the year-end total, an increase of 11 percent in automotive output over last year’s 1.13 million is likely, the association predicts, which means the highest-ever figure for Turkey’s automotive industry to date with 1.25 million vehicles. Soaring demand in Europe also means increased exports, expected to hit 910.000 vehicles over last year’s 828.000. The Turkish automotive industry earned USD 21.5 billion from exports in 2013 with shipments from plants belonging to Ford, Fiat, Hyundai, Renault, Toyota, Honda and other carmakers reaching the world markets.