Turkey’s car industry hits highest monthly export figure since 2008.

The automotive sector in June 2016 made its highest volume of monthly exports since July 2008, strengthening its top exporting status. The sector made exports worth $2.1 billion in June, a nine percent increase from the same month in 2015, according to data from the Automotive Industry Exporters Association (OİB). OİB President Orhan Sabuncu said it is very likely that the sector will reach its year end export target of $23 billion. The automotive sector, which takes a share of 18 percent in Turkey’s exports, made $11.7 billion worth of exports in the first half of the year with a 12 percent increase from the same period of 2015. Turkey’s car exports to its main market Germany surged to $330 million in June, a 15 percent increase compared to the same month of 2015. The sector’s exports to its second and third largest markets, Italy and France, rose by 54 percent and 3 percent respectively, hitting $508 million in total in June from the same month last year. More news here