POST Online Media Lite Edition



 

Turkish auto production and exports to hit record

Staff writer |
Turkish auto production and exports are set to hit a record this year as big investments in capacity last year yield results and sales to Europe increase.

Article continues below






Auto makers invested a total of $4.5 billion in 2013-2014 in a bid to raise production capacity, Kudret Onen, the chairman of the Automotive Manufacturers Association told reporters.

"The first half of 2015 has been the time in which these investments have started to bear fruit," Onen said.

Production is likely to rise almost 5 percent this year to a record 1.225 million vehicles, with 925,000 of those marked for export, he said.

Last year auto makers produced 1.17 million vehicles, 885,000 million of which were exported. Onen said he had not seen any impact so far from the Greek debt crisis.

Major producers in Turkey include Toyota Motor, Renault joint venture Oyak Renault, Fiat Chrysler's unit Tofas and Ford Otosan.

Onen said the lifting of the embargo imposed on Iran will have a positive impact on the Turkish automotive sector.

"We are watching developments in Iran closely. It is an important export market for our parts industry," he said.

"The development of Iran's automotive industry is important for Turkey."