Turkey Monetized $2.75 Billion From Automotive Sector

Uludağ Automotive Industry Exporters' Association (OİB) announced the export figures of the automotive industry. September exports increased by 12% compared to the same month of the previous year. It reached 2 billion 753 million dollars. Compared to August, this increase is pleasing.

The industry, which contributes 13.9 percent of Turkey's exports, kept its second-place ranking. The automobile industry's exports climbed by 5%. It totaled $22.3 billion between January and September of this year. In the first nine months, the average monthly export was 2.5 billion dollars.

After the 6% decrease in August, the approximately 12% increase in September is of great importance in terms of exports. Baran Çelik, Chairman of the Automotive Industry Exporters' Association, made a statement regarding these figures. "The figure we achieved was the highest September export ever."

On the basis of product group, the highest export was seen in the supply industry, while he also drew attention to the double-digit increase in passenger cars. A triple-digit increase was recorded in the export of tractor trucks.

The EU Has the Largest Share of Exports

In September, exports to Germany increased by 27% and became 403 million dollars, while the United Kingdom ranked second with 324 million dollars despite a 4% decline. France, where exports increased by 35% to 270 million dollars, ranked third in the automotive export list.

In September, exports increased by 23%  to Italy, 24% to Spain, and 68% to Poland in the automotive sector. An increase of 20% to Romania, 40% to Bulgaria, and 32% to Sweden raises hopes for the coming months. A decrease was observed in exports to Czechia, Egypt, and the USA.

European Union countries ranked first on the basis of the country group with a 64% share and an export of 1 billion 758 million dollars in September. The fact that the largest share belongs to the European Union countries also proves the recognition of the Turkish automotive industry in the world market. Exports to EU countries increased by 22%. In the same period, exports to African countries decreased by 16%.

Çelik added that the high increase rate in exports to Germany, France, and Poland in September attracted attention.

Exports by Product Group in the Turkish Automotive Sector

The largest product group in August, Supply Industry, saw a growth of 12% and reached an export of $1 billion, 67 million dollars. Motor Vehicles for Goods Transport fell by 50% to 297 million dollars, while Passenger Cars fell by 4% to 628 million dollars. In contrast to this, the Bus-Minibus-Midibus product category increased exports by 13% to 133 million dollars.

Despite the drop seen in August, according to Chairman of the Board of Directors Baran Çelik, exports were higher than the average for that month, which was typically below $2 billion. The supply industry was the most exported product group in August. He said that the Bus-Minibus-Midibus product group had double-digit growth alongside the supply industry.

Exports to the USA Increased the Most in Supply Industry

A 16% increase was observed in Germany, the country to which the most exports were made in the Supply Industry. On the other hand, an increase of 23% was observed in the USA, one of the important markets. The increase in exports to Russia by 16%, France by 23%, Spain by 48%, and Poland by 17% also emphasizes the value of the supply industry exports. In this respect, the value given to production is increasing day by day. Turkish manufacturers are increasing their orientation in this field.

While exports of passenger cars to France increased by 67%, there was an increase of 101% to the United Kingdom, one of the important markets. Looking at other countries, a 24% increase in Spain, 73% in Italy, and 120% in Poland are on the list. Exports to Morocco, which decreased to other items, increased by 62% in passenger cars.

The tractor category experienced the highest rate of export growth in September. Tow vehicle exports surged by 249 percent to 201 million dollars.

Highest September Exports Recorded in History

As a result, it was the highest September exports that have been recorded in history. Increases in each item of the automotive industry also point to Turkey's place in the world market in terms of production. Saying that the expectations for the automotive sector are even greater, Çelik also drew attention to the breadth of Turkey's export framework. Increasing demands are fixing Turkey's position both in the local and world market.

With the advancement of technology and production network, it is among the expectations that the framework will expand further and the diversity in product items will increase. Looking at both the September export value and the nine-month data, Turkey's position in the foreign market continues to strengthen.