Output cuts in Turkish auto industry hit flat steel contract prices

Following declines seen in Turkish automobile production and sales in the first two months of this year, it is reported that flat steel sales contract prices for Turkish automobile manufacturers have dropped by four percent as compared to last month.
 
As SteelOrbis previously reported, in the first two months of the current year motor vehicle sales in Turkey totaled 74,974 units, falling by 31.85 percent as compared to the corresponding period of the previous year, while the country's total motor vehicle output declined by four percent year on year to 187,133 units, according to the Turkish Automotive Manufacturers' Association (OSD). In February alone, Turkey's motor vehicle sales fell 30 percent compared to the same month of 2011, totaling 43,778 units, while Turkey's motor vehicle output totaled 98,980 units, decreasing by 3.7 percent year on year and up by 17.3 percent over the month of January.
 
Automotive industry specialists and end-users polled by SteelOrbis state that the contraction in Turkish motor vehicle sales has continued so far in March and that automotive producers have switched to working on a reduced shift regime as a result. Production cuts in automobile production in Turkey have also affected sub-industries negatively.