Automotive production soars in Jan-July

Automotive production increased by 10.7% this January-July compared to last year, according to the Automotive Manufacturers Association (OSD).

The OSD said automakers manufactured 705,079 vehicles — including automobiles, light commercial vehicles, and tractors — in the first seven months of 2021.

Automobile production rose by 2.1% year-on-year to 449,550 in the first seven months of 2021.

The overall auto sales market, including light trucks and other vehicles, grew by 31.4%, reaching 461,730 in the same period.

A report by the OSD revealed that automotive industry exports jumped 26.8% on a USD basis to USD 16.7bn between January and July.

Climbing 6.6%, the automobile sector’s export value reached USD 5.4bn, the report added.

The country exported 512,320 vehicles, of which 322,874 were passenger cars, during these months.

The capacity utilization rate in the sector was around 62% in January-July.

This July, automotive production fell by 44.6% year-on-year, reaching 65,418.

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