Automotive Exports - May 2023

Turkish Auto Industry Eyes Over $500M In Exports To Russia

The leader of national exports, Turkey’s automotive industry expects its exports to Russia to exceed $500 million in 2019, according to the vice-chairman of the Uludag Automotive Industry Exporters Association (OIB).

Turkey Grants TL 28B In Support To Auto Industry

Turkey, seen as having the best chance to host the new factory of German carmaker Volkswagen, has been the investment base of the automotive industry over the last five years.

Volvo's Electric Brand Polestar Inaugurates China Factory With Exports To US, Europe On Sight

Amid rising trade tension, Volvo’s electric brand, Polestar, is going ahead with plans to export its first Chinese-made model to the United States next year, the automaker’s CEO said. Polestar opened a factory in the western city of Chengdu to produce the Polestar 1, a two-door, gasoline-electric hybrid coupe with a carbon-fiber body.

OECD Revises Turkey's Growth Estimate,cuts Global Outlook To Post-Crisis Low

The Organization for Economic Co-operation and Development (OECD) made a major revision in its projection for Turkish economic growth in 2019, as it warned about escalating trade tensions are eroding global growth prospects,

Turkey To Attract More FDI Despite Global Reduction

Having received around $13 billion in foreign direct investment (FDI) in 2018, Turkey will continue to attract more investments from across the globe, according to strategist and analyst Cüneyt Paksoy.

Foreign Direct Investment Records 6.3% Rise In First Half

Foreign direct investment (FDI) in Turkey increased by 6.3% from June last year to June 2019, reaching approximately $12.4 billion.

Turkish Auto Sector Records Rising Exports To European Union

The automotive sector, the engine of Turkish exports, achieved $1.3 billion in exports to European Union countries in August, an increase of nearly 10% compared to the same month last year.

Cezeri, Turkey's First Flying Car Debuts At Teknofest

Turkey’s first flying car, Cezeri became the most notable product at this year’s Teknofest, the country’s top aerospace and technology festival visited by nearly 2 million people from Sept. 17-22.

Turkish manufacturer enjoys 45% rise in overseas sales

TürkTraktör, the Turkish automotive industry’s first manufacturer that is still operational, saw its overseas sales turnover increase by 45% in the January-June period, the company said in a statement.

Turkish automotive sector keeps its lion's share in total exports

It is reported by Automotive Manufacturers Association (OSD) that automotive sector keeps its lion’s share in Turkey’s total exports during the first six months of the year.