In our country, the car industry did not just collapse for new customers. While production and exports continue to increase, imports continue to increase at a much higher rate. Unfortunately with this increase Long-term damage map started happening.

According to July data, Turkey is now running a foreign trade deficit in the automotive sector. In other words export figures lagged behind import figures.

In 2023 alone, $17.3 billion was spent on car imports:

According to the article shared by Abdurrahman Yıldırım from Habertürk, an astronomical increase in imports in Turkey’s automotive sector was observed. Import spending, which was $8.9 billion in January-July last year, rose to $17.3 billion in the first 7 months of 2023. In other words, the money allocated to cars at import increased by 93.5%. The import and export figures for the last 12 months were as follows:

• Last year’s import volume: $30.4 billion
• Last year’s export volume: $29.6 billion
• Difference: -$797 million

According to the information shared by journalist Emre Özpeynirci, Turkey has had a foreign trade surplus since 2016 and broke a record last year with a surplus of USD 9.1 billion. This positive picture, which has been going on for 7 years, seems to have come to an end in July 2023.

Emre Özpeynirci had recently reported on this situation:

There have been signs for some time that Turkey will turn negative in foreign trade in cars. However, the date when this situation will occur has only recently been announced. by Emre Ozpeynirci It was given in the above post on August 5th. Unfortunately, this date has come true.

Vehicle production is increasing, but imports are increasing even more:

This table in last month’s reports. it showed. According to the Automotive Industry Association’s June 2023 report, sales increased 13.2% in just one year. While this increase had a positive effect on export earnings, there were some depressing details in the import table.

According to the report, total car imports rose 69.6% in June compared to the previous year. For cars, this number was 66.2%. A total of 352,108 vehicles were imported in just 6 months. The number of productions was 462 thousand 401.

The number of exports was limited to 505 thousand 926. Exports increased by 8.3% compared to the same period last year.

Will Turkey be negative again in the automotive sector?

Looking at these rates of increase, we can say that the number of imports exceeds the number of productions and the number of exports is almost tomorrow, unless there is a contrary development. By the end of the year, the automotive industry may become one of the sectors that Turkey loses.