Turkey's Automotive Production Hits 7-year Record İn Q1

Turkish automotive sector's production rose by 31 percent in the first quarter of the year to 335 thousand units, the highest level since in the same quarter of 2008, when it was at 351 thousand units, according to the Automotive Industry Association (AIA) data released on Thursday.

Turkey's car production rose to a new record level in the first quarter of the year at 198 thousand units, 19 percent higher than last year's 166 thousand and 6 percent higher than 187 thousand in the first quarter of 2008, on the eve of the global financial crisis.

Total sales in the Turkish automotive market rose by 50 percent to 184 thousand units in the first quarter, from 122 thousand in the first quarter of 2014, when the automotive sales hit by deep lira depreciation, soaring interest rates and financial measures to limit rapidly rising consumer loans.

Car sales rose by 42 percent in the first quarter to 127 thousand units against 89 thousand units in the same period of 2014, while light commercial vheicle sales rose by 78 percent to 46 thousand units over the same period. - Istanbul