The automotive industry of Turkey accounts for around USD 3.0 Bn of foreign sales. It is increasing its sales by more than 5% and is accomplishing the growth of export in the year 2019. The figure of automotive exports is fueled by increasing sales in the U.S and Netherlands. A sale of 132% and 56% is being observed in these regions. As per a survey, TIM (Turkish Exporters Assembly) and OIB (Automotive Industry Exporters Association) exports are increasing these sales of the automotive industry.
Data of export is considered as a figure of the fourth highest foreign sales. Thus, boosting the automotive industry further.
Growth in the exports of buses, minibusses, minibusses and passenger cars is positively reflecting the exports industry. For Turkey, foreign automotive sale ranks first, on comparing to the complete export of the country.
Major Market Movements:
Last month, Germany has increased the Turkish automotive exports sale by almost USD 414 Mn. Therefore, increasing its exports by almost 6%.
France ranks second in contributing to increase exports in the automotive sector. The sale is increasing by around 25% making it account for USD 400 Mn. However, the Italian market is ranking third with USD 270 Mn and by an increase in exports.
In other sectors, Netherlands exports are increasing by 132% making it to USD 150 Mn, whereas the market of the U.S is observing a growth of USD 140 Mn. Another important market for automotive exports is Poland. The registered increase here is 38%.
As far as the U.S. is concerned, the sales have increased by 340% for passenger cars and 100% midibuses and minibusses.
The automotive industry is accomplishing USD 710 Mn of exports to the country. In 2017, the sale of automotive reached around USD 1.5 Bn. But, in 2018, exports decreased to USD 1.5 Bn.
In Turkey, the most leading companies for automotive are Tofas selling the Doblo to the U.S market on considering the brand RAM.