Turkey Motor Vehicle Production Fell 29% in First Half


Turkey’s motor vehicle production dropped 29% in the first half, according to a statement by the Automotive Manufacturers Association (OSD) published on Sunday.

Production in June was down 5% from a year earlier to 103,273 units, a marked recovery from the decline of 54% in May, as government stimulus flows through to an economy stirring back to life following the shock of coronavirus.

Since June, buyers of domestically-made cars have been able to finance purchases with low-interest long-term loans from state banks.

Turkish motor vehicle exports fell 27% from a year earlier in June versus 60% in May.

©2020 Bloomberg L.P.

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