NEWS Automotive        11/05/2019

Turkey’s automotive imports fall 62.2% in April 2019

According to figures presented in the Automotive Industrialists’ Association’s (OSD) monthly report for April 2019, total automotive production was 127,913 units in April 2019, 7.7% lower than the figure for the same month of the previous year. Of this total, car production was 83,459 units in April 2019, 8.1% lower than the figure for the same month of the previous year.

 

The results for March 2019 show a continuing stagnant market as a result of Turkey’s deepening economic recession. The depressed domestic market sales (56.6% down in April) have had a detrimental effect on production. The tax cuts introduced as from November 1st, 2018 have failed to relieve the pressure on the domestic automotive market.  Exports are also faltering with a 9.4% fall in unit sales and a 10.4% fall in export sales in USD value in April 2019  compared the same month of the previous year. It should also be noted that the decline in the automotive sector’s figures started in March 2018 with the result that a further decline in 2019 will be exacerbated when compared with the 2017 performance.

 

Total automotive production was 1,550,150 units in 2018, 1,695,731 units in 2017, 1,485,927 units in 2016, and 1,358,796 units im 2015.

Total car production was 1,026,481 units in 2018, 1,142,906 units in 2017, 950,888 units in 2016, and 791,027 units in 2015.

 

2017 was a record year for automotive production in Turkey, but production fell 8.6% in 2018, and with the 13.2% fall in the first four months of 2019, it would seem that automotive production in 2019 will be falling back to the 2015 level.

 

In OSD’s report for April 2019, figures for production, sales, imports and exports are as follows :

 

**   Total production decreased by 7.7% in April 2019 to 127,913 units compared with the same month of the previous year. Of this total, production of cars decreased by 8.1% to 83,459 units.

**   Total automotive sales decreased by 56.6% in April 2019 to 32,088 units compared with the same month of the previous year.

**   Total automotive imports decreased by 62.2% in April 2019 to 17,685 units compared with the same month of the previous year

**   Total automotive exports decreased by 9.4% in April 2019 to 106,004 units compared with the same month of the previous year.

**   In USD terms, total automotive exports decreased by 10.4% to USD 2,660 million, with car exports decreasing by 22.8% to USD 960 million in April 2019.

 

In OSD’s report for the first four months of 2019, figures for production, sales, imports and exports are as follows :

 

**   Total production decreased by 13.2% in the first four months of 2019 to 489,429 units compared with the same period of the previous year. Of this total, production of cars decreased by 14.3% to 322,281 units.

**   Total automotive sales decreased by 48.4% in the first four months of 2019 to 123,155 units compared with the same period of the previous year.

**   Total automotive imports decreased by 53.8% in the first four months of 2019 to 68,059 units compared with the same period of the previous year.

**   Total automotive exports decreased by 7.7% in the first four months of 2019 to 426,026 units compared with the same period of the previous year.

**   In USD terms, total automotive exports decreased by 7% to USD 10,550 million, and car exports decreased by 14.1% to USD 3,897 million in the first four months of 2019 compared with the same period of the previous year.      

     

        Click here for full OSD monthly report for April 2019

 

 

 

 



Turkey’s net minimum wage has been raised 26.05% to TL 2,020 (USD 381) as of 01.01.2019       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s annual inflation rate steadies at 19.50% in April 2019       Turkey’s unemployment rate remains at 14.7% in February 2019       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 82,003,882 as of 2018 yearend       Number of foreigners visiting Turkey in 2018 increases by 21.8% to 39.5 million       Turkey’s private sector foreign debt is USD 225.8 billion as of 2018 yearend       Turkey’s economy contracted by 3% in the fourth quarter of 2018