Turkey's auto production drops in Jan-May

By Elif Ferhan Yesilyurt

ANKARA

Turkey's automotive production from January to May dropped two percent on a yearly basis, according to the Automotive Manufacturers Association (OSD) on Saturday.

Automakers in Turkey produced 711,99 vehicles -- including automobiles, light commercial vehicles, and tractors -- in the first five months of 2018, according to the monthly report.

The report showed that automobile production also fell 7 percent during the same period, to reach 471,634.

The Turkish market for auto sales (including light trucks and other vehicles) narrowed 4 percent annually, standing at 311,566 between January and May.

Turkey's automotive exports dropped three percent to 577,820 in the first five months of 2018, compared with the same period last year.

However, the export value rose to $14.1 billion, up 18 percent during the same period, due to high level of the dollar-lira parity, it said.

The five-month average U.S. dollar/Turkish lira exchange rate this year was around 3.99, while last year one dollar traded for 3.65 liras on average.