Automobile production increased by 12 percent in the first two months

Automotive Industry Association (OSD) announced production and export figures and market data for the first two months of 2024. Accordingly, in the first two months of the year, total automotive production increased by 8 percent compared to the same period of the previous year, reaching 241 thousand 861 units.

Automobile production increased by 12 percent to 151 thousand 14 units. Including tractor production, total production reached 250 thousand 886 units. In the first two months of the year, commercial vehicle production increased by 2 percent compared to the same period of the previous year, and production in the heavy commercial vehicle group increased by 27 percent, while production in the light commercial vehicle group decreased by 1 percent.

During this period, the capacity utilization rate of the automotive industry was 74 percent. Capacity utilization rates on a vehicle group basis were 74 percent in light vehicles (cars + light commercial vehicles), 94 percent in the truck group, 61 percent in the bus-midibus group and 72 percent in the tractor.

Exports increased by 9 percent to 6 billion dollars

According to the data of the Turkish Exporters Assembly, total automotive industry exports maintained its top place in the sectoral export rankings with a 14 percent share in the first two months of 2024. According to Uludağ Exporters’ Associations (UIB) data, total automotive exports in the first two months increased by 9 percent compared to the same period of 2023, reaching 6 billion dollars.

In euro terms, it increased by 8 percent to 5.5 billion euros. During this period, while main industry exports increased by 10 percent in dollar terms, the increase in supply industry exports was 8 percent.

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