Turkish Automotive Production Rose In 2014 Despite Sales Fall

- Turkish automotiv sector's annual production rose in 2014, despite a shrinkage in the domestic market, due to soaring exports, according to the data released on Monday.

Turkish automotive sector's total production rose by 4.0 percent to 1.17 million units in 2014, against the previous year, while car production rose by 16 percent to 733 thousand units, over the same period, said in the statement released by Automotive Manufacturers Association.

Automotive production rose sharply by 45 percent in December on annual basis, to 121 thousand units, while automobile production up by 38 percent to 70 thousand units in the same month.

Automobile exports rose by 20 percent to 582 thousand units in 2014, against the year before, when total exports of the sector rose by 7 percent to 885 thousand units.

Domestic sales of the industry fell by 10 percent in 2014 while automobile sales shrinked by 12 percent to 587 thousand units, due to consumer loan regulations and lira depreciation, lifting the vehicle prices up.

Lira depreciation hit the automobile and light commercial vehicle imports in 2014, as well, pulling automobile imports by 20.4 percent to below 500 thousand units at 430 thousand and light commercial vehicle imports by 9.8 percent to 82 thousand units.

Luxury car imports were also fell in 2014 due to lira depreciation; Ferrari imports fell to 11 units from 23 units the year before, Jaguar imports fell to 52 units from 97 and Lamborghini imports fell to 2 from 4, over the same period, while Bentley imparts stayed unchanged at 21 units and Maserati imports soared to 83 units from 49 units.