Turkey's auto production narrows in Jan-Aug

By Erhan Cihan Unal

ISTANBUL (AA) – Turkey's automotive production from January to August dropped 5 percent on a yearly basis, according to the Automotive Manufacturers Association (OSD) on Saturday.

Automakers in Turkey produced 1,034,97 vehicles — including automobiles, light commercial vehicles, and tractors — in the first eight months of 2018, according to a monthly report.

The report showed that automobile production also fell 9 percent during the same period, to reach 683,069.

The Turkish market for auto sales (including light trucks and other vehicles) narrowed 20 percent annually, standing at 455,943 units between Jan. and Aug.

Turkey's automotive exports dropped 4 percent to 857,479 in the first eight months of 2018, compared with the same period last year.

However, the export value rose to $21.3 billion, up 12 percent during the same period, due to high level of the dollar-lira parity, it said.

The eight-month average U.S. dollar/Turkish lira exchange rate this year was around 4.38, while last year one dollar traded for 3.65 liras on average.