Turkish automotive industry exports fell 37.9% year-on-year last month to $1.4bn from last year’s $2.254 billion.
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The top exporting auto industry suffered the largest loss among the country’s top five exporting sectors, Reuters said, citing data from the the Turkish Exporters Association (TIM).
Ford Otosan – home of the popular Transit Connect small van sold across Europe – stopped production between 25 October and 2 November due to what it saw as lower demand in the sector, the report said.
Turkish vehicle exports plummeted 42% year in the first three weeks of November due to tumbling consumer demand in Europe, according to the Uludag Exporters Union.
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