Turkey’s auto industry continues to gain momentum during the pandemic

Turkey’s auto industry continues to gain momentum during the pandemic

Against the background of the new type of coronavirus (COVID-19) pandemic, the volume of car sales in the domestic market of Turkey and exports of the auto industry – the “locomotive” of the Turkish economy – exceeded the statistics of many European countries, reports the Anadolu Turkish News Agency.

Financial risks, associated with fluctuations in global markets, difficulties in the chain of goods and components delivery, as well as the impact of restrictive measures have also exerted a negative influence on the Turkish economy.

In March-May 2020, at the peak of the coronavirus pandemic, vehicle manufacturers in Turkey were forced to suspend production. During the same period, there was a decline in sales in the car markets of Europe and Turkey.

Firm government measures and high competitiveness of Turkish products allowed the automotive industry to maintain a high level of sales and quickly restore production rates.

The passenger and light commercial vehicles market in Turkey in January-July 2020 increased by 60.3 % compared to the same period in 2019 – to 341,469 units.

As recently as in July, the passenger and light commercial vehicles market increased by 387.5% compared to July 2019 – to “record” 87,401 units.

Car sales in July in the domestic market totaled 69,427 units, which is 350.9% more than in the same month of 2019, and the commercial vehicle market grew by 610.7% – to 17,974 units.

The Turkish auto industry has once again proved to be the engine of the country’s economy. According to the Assembly of Turkish Exporters (TIM), the volume of exports of the automotive industry in June amounted to 2,014,485,000 dollars, and in July increased by 9.28 % – to 2,201,411,000 dollars.

The largest volume of exports of the Turkish automobile industry fell on 8 EU countries.

ORIENT news

0