According to data provided by the Uludağ Exporters Union (UİB) on Monday, auto exports from Turkey amounted to $13.9 billion in the first 11 months of 2009, while the country saw $22.96 billion in total auto exports in 2008. The Turkish auto industry made $15 billion in exports in 2006. Even though the automotive sector hopes to reach $16 billion in exports by the end of December, the total loss in exports compared to 2008 would still hover at around $7 billion.
Turkey has enjoyed a continuing rise in its auto exports since 1993. The country’s total auto exports climbed to $22.96 billion by the end of 2008, a historic record, from $643.7 million in 1992. The increase in Turkey’s auto exports gained momentum in 2001, despite a serious credit crunch at the time. Turkey enjoyed a $1.22 billion rise in auto exports in 2001 over the preceding year, while the year-on-year increase in 2004 compared to 2003 was $3.5 billion.
Under the best case scenario, Turkish auto industry representatives expect auto exports to increase to $20 billion in 2010, provided that traditional export markets, such as the EU, see a boost in business. The sector expects the government to introduce a cash-for-clunkers incentive and reductions in value-added tax (KDV) for commercial vehicles in a bid to reinvigorate the domestic market, which will also have a positive impact on exports.
