Vehicle production continues to grow rapidly in Turkey. According to local trade body OSD, total vehicle production in the first half reached 708,962 units, 32% above the same period last year.
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However, OSD noted that unfavourable market conditions – at home and abroad – caused the annual rate of growth to slow to just 13% in the month of June.
First half exports were up by 55% to 557,533 units with commercial vehicles performing particularly strongly (up 49% to 333,119 units).
Oyak-Renault was the biggest volume exporter in the first half (141,382 units, up 59%) followed by Ford Otosan (141,382 units, up 27%). Tofas (Fiat’s partner) more than doubled its volume on last year to 132,784 units.
Istanbul-based analysts TSKB Research noted that Ford has lowered its Turkey market outlook for this year based on domestic political and economic uncertainties.
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By GlobalDataOSD data also showed that Turkish passenger car sales are 18% up in the first half at 164,445 units, but the month of June showed a 5% decline on last year.
