Automotive Manufacturers’ Association says growth will continue through the year.
Turkish automotive exports surged 32 % in the first two months of the year, the Automotive Manufacturers’ Association said in a statement on Thursday.
From January to February 2015, auto exports reached 99,000 according to the statement.
The increase is counter-trend to total Turkish exports, which saw a significant decline in the same period, the Turkish Exporters’ Association said on Wednesday.
The Turkish Exporters’ Assembly on March 1 announced that, for the same period, total exports dropped to $22.8 billion, a 6.7 % decline from the same period of the previous year.
“Tofas, which recently contracted for exports to the US, increasing production at Oyak Renault, Ford Otosan and Hyundai have boosted exports so far this year,” association coordinator Mucahit Sevim said.
“Most probably we will see similar annual growth for the sector, he added.”
Turkey manufactured one out of every 77 motor vehicles in the world in 2014, according to figures released this week by the International Organization of Motor Vehicle Manufacturers.