Automotive exports hit $2.9 bln in October

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Turkey‘s automotive industry exports rose 3.7% to $2.9 billion this October, hitting the highest monthly export figures for October in two years, according to industry figures released on Nov. 4.

The country’s automotive exports to EU countries- its largest market – also climbed 6% to $2.8 billion, said data from the Uludag Automotive Industry Exporters’ Association (OIB).

The sector also saw a 9% increase in exports to Middle Eastern countries.

In the first 10 months overall, however, exports fell 21% to $20.1 billion, due to the fallout from the coronavirus pandemic.

“October exports were the third-highest monthly value we have reached so far,” Baran Çelik, the OIB’s head, said in a statement.

During the month, he noted, supply industry exports rose 5%, and exports of motor vehicles for the transportation of goods leaped 48%.

A total of 76,341 vehicles were sold across Turkey last month, a 90.9% rise from October 2019.

Hurriyet Daily News

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