Strong Increase in October Exports of the Automotive Sector

The Turkish automotive industry achieved significant success in exports in October. According to data from the Uludağ Automotive Industry Exporters' Association (OİB), the sector's exports in October reached 3 billion 582 million dollars, marking a 16.4% increase compared to the same period last year.

Maintaining its leading position with a 15.2% share of Turkey’s total exports, the automotive sector experienced a 6.5% increase in the first 10 months of 2024, achieving exports of 30 billion 511 million dollars. OİB Chairman Baran Çelik highlighted that the October data represents the highest monthly export figure to date, reporting a 31% growth in passenger cars and a 17% increase in the supply industry. Notably, exports to France increased by 27%. Germany and the United Kingdom followed France, with significant export growth observed for countries such as Slovenia, Romania, and Spain.

Strong growth in the supply industry and passenger cars
In October, the largest product group within the automotive sector was the Supply Industry, which reached 1 billion 395 million dollars with a 17% increase in exports. Exports of passenger cars increased by 31% to 1 billion 313 million dollars. However, exports of Motor Vehicles for Goods Transport declined by 12%, falling to 387 million dollars. Exports of buses, minibuses, and midibuses rose by 5%, reaching 224 million dollars.

The most notable increases by country were achieved through the supply industry to Germany and France, with exports to France seeing a 38% rise, to Romania a 71% increase, and to Spain a 72% increase. Exports of passenger cars to Slovenia increased by 197%. However, declines in exports were recorded in significant markets such as the United Kingdom and Italy for Vehicles for Goods Transport.

18% increase in exports to European Union countries
In October, there was an 18% increase in the automotive sector's exports to European Union countries. During this period, exports to EU countries reached a total of 2 billion 512 million dollars, accounting for 71% of the sector's total exports. Other European countries received an 11.5% share of exports, with exports to this group of countries increasing by 19%.

Exports to the North America Free Trade Zone rose by 17%, while exports to many African countries also increased by 15%. On the other hand, a 19% decrease was observed in exports to Middle Eastern countries. The extensive export activities of the automotive sector in global markets continue to demonstrate the sector's dynamism and competitiveness.