Sharp decline in automotive production

The stagnation in the industrial sector is causing a decline in the production and exports of many activities. The automotive sector is also feeling the effects of this decline.

The Automotive Manufacturers Association announced its production and export market data for the January-September period of 2024, reporting that total automotive production in the first 9 months of the year fell by 7 percent compared to the same period last year, reaching 1 million 597 thousand units.

Automobile production decreased by 5 percent to 657 thousand 148 units. Total production, including tractors, reached 1 million 36 thousand 506 units.

In the 9-month period of the year, production in the commercial vehicle group declined by 11 percent, in the heavy commercial vehicle group by 23 percent, and in the light commercial vehicle group by 9 percent compared to the same period last year.

During this period, the capacity utilization rate of the automotive industry was 69 percent. Capacity utilization rates on a vehicle group basis were 69 percent for light vehicles, 73 percent for the truck group, 51 percent for the bus-midibus group, and 64 percent for tractors.

EXPORTS REACHED 26.7 BILLION DOLLARS IN THREE QUARTERS

In the 9-month period of the year, automotive exports followed a parallel trend in terms of units compared to the same period last year, reaching 729 thousand 515 units.

During this period, automobile exports decreased by 1 percent compared to the same period last year, while commercial vehicle exports increased by 1 percent.

Tractor exports decreased by 23 percent compared to the same period in 2023, reaching 11 thousand 179 units. According to data from the Turkish Exporters Assembly (TIM), total automotive industry exports maintained their first-place position in sectoral export rankings with a 16 percent share in the 9-month period of the year.

According to data from the Uludağ Exporters' Association (UIB), total automotive exports in the 9-month period increased by 2 percent compared to the same period in 2023, reaching 26.7 billion dollars.

In euro terms, exports increased by 1 percent to 24.5 billion euros. During this period, main industry exports increased by 4 percent and supply industry exports increased by 1 percent in dollar terms.

TOTAL MARKET DECLINED COMPARED TO THE SAME PERIOD LAST YEAR

In the 9-month period of this year, the total market declined by 2 percent compared to the same period last year, reaching 881 thousand 442 units.

During this period, the automobile market increased by 1 percent to 673 thousand 73 units. Looking at the commercial vehicle market in the first 9 months of the year, the total commercial vehicle and heavy commercial vehicle markets declined by 9 percent, and the light commercial vehicle market declined by 8 percent compared to the same period last year.

In the 9-month period of the year, the share of domestic vehicles in automobile sales was 29 percent, while the share of domestic vehicles in the light commercial vehicle market was 30 percent.

News Source: 12punto