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FinancialNews


  • 11-05-20

    Turkey's auto exports post annual decline

    (MENAFN) Based on a sectoral report issued on Sunday, Turkey's automakers produced 352,309 vehicles, along with automobiles and commercial vehicles in the period between January and April 2020.

    A statement released by the Automotive Manufacturers' Association revealed that owing to factory closures amongst the coronavirus outbreak, Turkey's auto production posted a decline by 28 percent on an annual basis.

    During the first quarter of this year, Turkey saw a 33 percent decline in its vehicle exports, exporting about 82 percent of the vehicles manufactured in the period, which stood for 86,963 units.

    Throughout this period, the total value of Turkish vehicle exports dropped by 27 per cent to around $7.8 billion compared to last year's same time.

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