Exports support Turkey's automotive sector

Exports support Turkey’s automotive sector

Turkey's Automotive Manufacturers Association (OSD) disclosed the country's automotive production and sales figures during the first four months. Turkey's domestic automotive sales fell 18% year on year to 188'000 units in the first four months of 2005. Demand, which approaches to saturation point in automotive, the adjustments in taxes and the cut in scrap discount affected the domestic sales negatively. Passenger car sales also declined 25% in the first four months to 107'000 units, and imports accounted for 65% or total market. On the other hand, due to the robust automotive exports, automotive production rose 10% year on year to 287'000 units during the January-April 2005 period. Passenger car production also increased 2% to 143'000 units. Despite the decline in domestic sales, exports show an upward trend. Automotive exports rose 32% year on year to 193'000 units in the first four months.