The decline in automotive production and exports accelerated in August. Car production and exports decreased by 40 percent and 37 percent, respectively. In addition to the slowdown in domestic and foreign demand, the long maintenance breaks in factories this year were also effective in the decline.
The Automotive Manufacturers’ Association (OSD) announced the production, export and market data for the January-August period of 2024. According to OSD data, total automotive production in August decreased by 26.7 percent compared to the same period of the previous year and amounted to 53,502 units.
In August, car production fell by 40.4 percent year-on-year to 29,398 units. Last month, sales in the total automotive market decreased by 0.4 percent to 93,792 units.
Exports down by 17.3%
In August, total automotive exports decreased by 17.3 percent year-on-year to 57,856 units, while car exports decreased by 37.7 percent year-on-year to 31,522 units. In August, total automotive exports decreased by 5.1 percent in dollar terms to USD 2.6 billion, while car exports decreased by 32.2 percent to USD 630.7 million in this period. In the January-August period of 2024, total automotive production decreased by 7 percent and car production decreased by 5 percent compared to the same period of the previous year.
In this period, total production was 877,152 units and car production stood at 571,575 units. In the first eight months of the year, sales in the total market were 792,256 units, in parallel with the same period of the previous year.
In the January-August period of 2024, compared to the same period of the previous year, total automotive exports decreased by 2.6 percent in terms of units and car exports decreased by 3 percent. In this period, total automotive exports amounted to 639,721 units and car exports to 411,905 units. In January-August 2024 period compared to the same period of the previous year, total automotive exports were at the same level in dollar terms and amounted to USD 23.3 billion. In the same period, car exports decreased by 5 percent to USD 6.8 billion.
