The Turkish automotive industry that is a contributor of 79% of its production has achieved a historic exports and production figures. The total production of automobiles by the industry in the period of January–November of 2017 has spurred by 16%, which makes up to 1.5 Million in contrast to the same period of the last year. While on the other hand, the production of automobile reached the mark of Million units with a significant increase of 24%.
The automotive industry based in Turkey crossed the 1 Million score in the first 11 Months and the year still has some days as per the calendar years. While the exports and production figures surpassed the last year figures and crashed all-time records.
According to the data reveal, the overall production spurred by 16% while the automobile production increased by 24% between January–November 2017 in contrast to the same period of the last year. The total production as per the exact figure was 1.5 Million, whereas the automobile production touched the figure of 1 Million units. Coming on to the commercial vehicle production, it increased by 2%, heavy commercial vehicle by 18%, and light commercial vehicle by 1%.
Thus, there was a decline in the production numbers of the commercial vehicle by 31%, resulting in shrinking performance over the last two years. The exports between January 2017 and November of 2017 stood at 12 Million units with total export of automobile was 544,00 units. While in the same period, $26.5 Billion total automotive exports were recorded with an increased export by 49%.
The analyst of the sector anticipated a minor drop in the overall market owing to 2018 exchange rates. It has been expected that the rental and fleet sector with individual sales might cover the losses to some extent. However, the total manufacturing is based on the high demand, which is expected to bring a huge promotion in market growth.