Turkey's Motor Vehicle Output Continues Double-Digit Decline

(Bloomberg) -- Turkey’s motor vehicle production in January-April fell 13% from a year ago to 489,429 units, the Automotive Manufacturers Association said in a statement.

Car output fell 14% to 322,281 units in the first four months of the year. Total motor vehicle production has fallen by double digits every month on a cumulative basis in 2019, signaling that the auto industry has not yet recovered from recession.

Total vehicle exports dropped 8% to 426,026 units and car exports fell 14% to a value of $3.9 billion, as a decline in the lira failed to translate into a competitive advantage for Turkey’s auto industry. The lira is the worst performer in the second quarter among emerging-market currencies, falling 6.9% against the dollar.

To contact the reporter on this story: Baris Balci in Istanbul at bbalci4@bloomberg.net

To contact the editors responsible for this story: Onur Ant at oant@bloomberg.net, Neil Chatterjee, Nick Rigillo

©2019 Bloomberg L.P.