Automotive production shrinks but the market continues to grow

According to data from the Automotive Manufacturers Association (OSD), automotive production in August fell by 21.2 percent compared to the same month last year. In the same month, the automotive market grew by 72.8 percent to 90 thousand 381 units, while exports also showed an increase of 8.4 percent.

In the eight-month period, production increased by 13 percent.

According to this data, automotive production in August was 73 thousand 20 units, a 21.2 percent decrease compared to the same month last year. In the same month of the previous year, production was at the level of 92 thousand 625 units.

In the same month, the automotive market reached 90 thousand 381 units with a 72.8 percent increase, while the automobile market was determined to be 66 thousand 131 units with an 87.7 percent increase.

Automotive exports increased by 8.4 percent to 69 thousand 950 units, and automobile exports increased by 22.5 percent to 50 thousand 264 units.

8-MONTH PRODUCTION INCREASED BY 13 PERCENT

In the January-August period of 2023, total production increased by 13 percent, and automobile production increased by 21 percent compared to the same period of the previous year. In this period, total production reached 943 thousand 609 units, while automobile production reached 599 thousand 915 units.

In the January-August period of 2023, the total market grew by 63 percent compared to the same period last year, reaching 788 thousand 197 units. During this period, the automobile market increased by 64 percent and reached 582 thousand 419 units.

In the commercial vehicle group, production increased by 2 percent in the January-August 2023 period, and by 27 percent in the heavy commercial vehicle group, while it remained parallel to last year in the light commercial vehicle group. Compared to the January-August 2022 period, the commercial vehicle market increased by 60 percent, the heavy commercial vehicle market by 32 percent, and the light commercial vehicle market by 64 percent.

In the January-August 2023 period, compared to the same period of the previous year, total automotive exports increased by 11 percent in terms of units, and automobile exports increased by 26 percent. In this period, total exports reached 656 thousand 750 units, and automobile exports reached 425 thousand 934 units.

In the January-August 2023 period, compared to the same period of the previous year, total automotive exports increased by 17 percent in US Dollars and by 16 percent in Euros. During this period, total automotive exports amounted to 23.3 billion dollars, while automobile exports increased by 27 percent to reach 7.2 billion dollars. Automobile exports in Euros increased by 26 percent to reach 6.6 billion euros.

Bloomberg