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Shrinking automobile industry hits steel demand seriously in Turkey-2019 China(Guangzhou)Int’l Metal & Metallurgy E
xhibition-metal exhibition
12/24/2018 金属展-冶金展-钢铁展-steel expo-metal &metallurgy expo |
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Due to cash flow and credit problems, the production and sales volume of the Turkish auto industry continued to decline sharply, which in turn seriously affected the steel demand of the industry in the second half of the year.
It was reported that Turkish main automaker Tofaş’s Bursa plant had nine days of production (non-continuous). With the slowdown in the main end-user industry, sales of Turkish steel mills were negatively affected, and Turkish car sales fell further in November.
Automotive Distributors'' Association (ODD) data showed that in the first 11 months of this year, the total sales of Turkish passenger cars and light commercial vehicles fell by 33.7% year-on-year to 543,000 units roughly.
However, the latest data from the Automotive Manufacturers Association (OSD) showed that the export sales of the auto industry from January to November was relatively stable at 1.2 million units roughly.
The reaction to strong export sales and shrinking domestic market led to a sharp decline in Turkish car production in the first 11 months of this year.
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