Price: $ 1295
Autos production in Turkey is starting to increase more rapidly, driven by ongoing growth in export volumes. Indeed, it has long been BMI's core view that, after a moribund H113, autos output in the country would trend higher in H213. This continues to play out, with a 23.9% y-o-y increase in output during August. Over 8M13, vehicle production increased 4.7% y-o-y, to 1,105,568 units, according to figures from the Turkish Automotive Manufacturers Association (OSD). We expect to see ongoing production increases in the latter part of the year, although the strong August rate is unlikely to be sustained, on the back of strong export growth and solid fundamentals. Accordingly, we maintain our 2013 production forecast for a 3.1% increase across the auto sector (passenger cars plus commercial vehi ...
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