Automotive Manufacturers Association (OSD) announced the production and export data in the sector in the first 5 months of 2024. Here are the details:
Decline in Production
According to OSD data, total production in the first 5 months of 2024 decreased by 2 percent compared to the same period last year, reaching 606 thousand 905 units. Automobile production increased by 1 percent and reached 391 thousand 932 units. Total production increased to 629 thousand 449 units including tractors.
Increase in Exports
While total automotive exports increased by 1 percent in terms of units in the first 5 months of the year, automobile exports increased by 2 percent. Total exports were 417 thousand 826 units, and automobile exports were 269 thousand 349 units.
Market Data
In the 5-month period of 2024, the total market increased by 5 percent and reached 491 thousand 482 units. The automobile market increased by 10 percent to 375 thousand 97 units. The capacity utilization rate of the automotive industry was 75 percent.
