Automotive Production Plummets by 15.4% in November

Forex - Automotive production in November 2024 decreased by 15.4% compared to the same month last year. According to the report released by the Automotive Industry Association, production, which was 138,735 units last November, dropped to 117,377 units in the same month this year. Car production decreased by 17.4%, falling from 96,922 units to 80,058 units.

The automotive market increased by 3.5%, rising from 91,424 units to 94,595 units, while the car market grew by 4.7%, increasing from 119,527 units to 125,132 units. Exports in the automotive sector fell by 5.1%, decreasing from 91,019 units to 89,187 units; however, car exports increased by 1.1%, rising from 61,237 units to 61,882 units.

In dollar terms, automotive exports decreased by 0.5% to $3.1838 billion, and in euro terms, they fell by 1.6% to €2.9163 billion. In the car sector, exports rose by 11.2% to $1.0478 billion, while in euro terms, they increased by 9.8% to €959.8 million.

• January-November Period - In the January-November 2024 period, total automotive production decreased by 8% compared to the same period last year, while car production declined by 6%. During this period, total production amounted to 1,239,944 units, with car production reaching 822,361 units.

The total market in the January-November 2024 period decreased by 1% compared to the same period last year, amounting to 1,109,117 units. The car market experienced a 0.6% growth compared to last year, reaching 845,530 units.

In the commercial vehicle group, production in the January-November 2024 period decreased by 12%, with light commercial vehicles down by 10% and heavy commercial vehicles down by 25%. Compared to the previous January-November period, the commercial vehicle market decreased by 5%, the light commercial vehicle market by 4%, and the heavy commercial vehicle market by 10%.

In the January-November 2024 period, total automotive exports decreased by 1% in quantity compared to the same period last year, with car exports also declining by 1%. During this period, total automotive exports reached 915,446 units, while car exports amounted to 593,562 units.

During the January-November 2024 period, total automotive exports increased by 3% in dollar terms and by 2% in euro terms compared to the same period last year. Total automotive exports stood at $33.4 billion, while car exports rose by 2% to approximately $10 billion. In euro terms, car exports increased by 2% to about €9.2 billion.