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By News Center

The Turkish automotive industry broke a historical record on a monthly basis in March. The sector's exports in March increased by 22.8 percent compared to the same period of the previous year and reached $3.3bn. The share of the industry, which ranks first in Turkiye's exports, was 13.9 percent. In the first three months of 2023, automotive industry exports increased by 15.8 percent and reached $8.6bn.

The exports of the supply industry, which is the largest product group of the automotive industry, increased by 15 percent reaching to $1.3bn last month. March exports of Passenger Cars increased by 47 percent and reached $1.7bn.

While exports to Germany, which is the country to which the most exports are made, increased by 13 percent. Besides that, export to Italy indicates 9 percent, which is one of the most important markets, and 29 percent to France, 350 percent to Russia and 11 percent to England. However, the export to USA decreased by 8 percent.

Further, the export of passenger cars increased by 238 percent to France, which is one of the important markets in passenger cars, 81 percent to Spain, 46 percent to Italy, 68 percent to the United Kingdom, 60 percent to Germany, 60 percent to Poland, 65 percent to Bulgaria, and export fell by 65 percent to Israel.

While exports to Germany, which is the largest market on a country basis, amounted to $475m in March, the second largest market was $434m to France with an increase by 97 percent, and to the United Kingdom with $309m with an increase by 15 percent.

Exports of $2.3bn were made to the European Union countries, which is the largest market with a share of 70 percent on the basis of a country group, with an increase of 29 percent. While other European countries ranked second among country groups with a share of 12 percent, exports to this country group increased by 20 percent. There was a 212 percent increase in exports to the Commonwealth of Independent States (CIS).

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