Istanbul-based TSKB research has published Turkish sales and production data for September that shows that vehicle production is continuing to expand, driven by exports. The domestic market is shwoing signs of life, but remains heavily down this year on a cumulative basis.
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Total motor vehicle production grew by 23% in September to 21,439 units and in the first nine months of the year rose by 7.5% over the same period of last year to stand at 242,031 units.
Passenger car production expanded by 15.9% in September to stand at 21,439 units and in the first nine months reached 143,571 units – 2.3% up on the same period last year.
In the first nine months of the year, light commercial vehicle exports expanded by 41% to 49,356 units while passenger car exports grew 6% to 117,257 units.
However, vehicle sales in Turkey were some 24.6% down in the first nine months at 107,938 units (in spite of a strong September, up 29%). Passenger car sales in the first nine months were 42% below last year’s level at 22,709 units (again, September showed a gain, 27%).
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By GlobalDataTSKB notes that while it has cut its 2002 domestic sales forecasts, its 2003 projection (growth in the range 20%-25%) stands. TSKB expects the Turkish economy to grow by 5% in 2003.
