October 18, 2023
In 2023, the 100th year after the Republic of Turkey was founded, the automotive industry will surpass the “1 million” mark in all three production, export, and sales metrics. The newest information provided by Cengiz Eroldu, president of the Automotive Industry Association (OSD), indicates that by the end of the year, overall automotive production will exceed 1.5 million units, and exports will surpass 1 million units.
More than 1.15 million units will be sold. With these outcomes, the car market will surpass the one million mark for the first time in history, shattering the previous record. Although they will not quite match the record-breaking year of 2017, when 1.6 million units were produced and 1.1 million units were exported, production and exports will nonetheless surpass 2018 in both categories.
“At a press conference held in Istanbul last week to present the latest figures on the sector, the 60-year-old automotive industry, which has grown with the republic, now operates with a capacity of 2 million units in 17 production facilities,” stated OSD President Cengiz Eroldu.
Of that capacity, 1.4 million units are being used by us. There are 15 R&D centers among our 13 members. As a sector, we employ over 500,000 people and invest $1 billion a year. With $30 billion in yearly exports, we continue to be the market leader and support the Turkish economy.”
Eroldu stated that automobile exports might amount $35 billion by the end of 2023 and that the production of automobiles surpassed one million units between January and September of that year.
“The automobile industry’s figures in 2023 are supported by both the growth of the home market and the rise of exports. In the first nine months, we have surpassed the 1 million production milestone. This indicates that our production levels before to the epidemic have been reached again.”
Eroldu stated that while they anticipate a 10 percent fall in the market as a whole for automobile sales in 2024, they do not anticipate a reduction of that magnitude in exports or production.
“We are hopeful on the export side, we think exports can cover the loss in the domestic market,” he stated.
Eroldu noted that although the car industry has long been a source of excess international trade, this year has seen a worsening of the situation.
Source: Hürriyet Daily News
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