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APD | Turkish auto industry's sales doubled in October

By APD writer Muhammad

Sales of Turkey’s car and light commercial vehicle in October 2019 increased by 127.5 percent year-on-year basis, reported local media while quoting the Automotive Distributors' Association.

According to the figures, a total of 49,075 automobiles were sold last the month with passenger cars sale of 39,996 automobiles, rising 138 percent while light commercial vehicle sales increased by 91 percent.

The figures further showed that the passenger car and light commercial vehicle total market narrowed 31.88 percent on an annual basis during the first 10 months of this ongoing year.

Another data from the country’s exporters association revealed that Turkey's automotive industry’s exports reached have touched a mark of 25.4 billion U.S. dollars with a slight increase in the first 10 months of this year.

The country's exports were recorded at around 2.5 billion U.S. dollars per month on average during the same period, while the Turkish automotive industry's exports were 2.8 billion U.S. dollars in October.

The auto industry of Turkey ranked first by taking a 17 percent share from the country's total exports in the month, the data revealed.

Last month, car exports, which constituted 43 percent of automotive exports, rose one percent to 1.2 billion U.S. dollars while the exports of motor vehicles for goods transport dropped by 18 percent to 388 million U.S. dollars.

(ASIA PACIFIC DAILY)

Business & Economy