OIB/Arıncı: The Automotive Industry Will Continue to Be the Locomotive of the Turkish Economy

Forex - Ertuğrul Tuna Arıncı, a board member of the Turkish Automotive Industry Exporters Association (OİB), spoke to industry representatives at the 5th World Automotive Meetings – Turkey Organization, which brings together automotive primary and secondary industry producers.

In his speech at the event held at the Bursa Merinos AKKM, Arıncı stated that the automotive industry continues to lead Turkey’s exports and, with its continuously improving structure, remains the locomotive of the Turkish economy.

Ertuğrul Tuna Arıncı highlighted in his remarks that the OİB has been working since 1991 to enhance Turkey's automotive exports. He recalled that the automotive industry reached a record export figure of $35 billion last year, during the 100th anniversary of the Republic, saying, "We have been the export champion 17 times over the last 18 years among all sectors. We continue to be the driving force behind our country's exports. I can already say that we will maintain our export leadership by the end of 2024."

"The development of our competitiveness is essential," he emphasized, noting that the increasing competition in the automotive industry necessitates monitoring new trends and technological advancements. "Therefore, it is crucial for the Turkish automotive industry to contribute more value to the national economy, enhance its competitiveness, and protect and increase our market shares in export destinations. It is also important to promote new projects that involve creativity, innovation, and originality, aiming for a high value-added and stable growth in our exports," he stated.

Citing a McKinsey report published this month, Arıncı noted that with the transformation of the sector, it is expected that European OEMs' global market share will decrease from 60% to 45% over the next decade. He said, "Keeping pace with the transformation is important."

"The research also indicates that European manufacturers can benefit from this transformation if they take the right steps. It suggests adopting innovative strategies and establishing a presence in growing global markets. While these discussions are happening in Europe, events like this are vital for us to follow the steps taken and develop a roadmap. To maintain our strong position in our largest market, we need to transform ahead of them."

"We want to elevate our export figures further," he added. "We take pride in the achievements of our automotive industry to date, but we never consider the current point sufficient, and we aim to increase the industry's export values with high value-added products in the future. As OİB, we are undertaking many projects to ensure that the Turkish automotive industry becomes a significant part of the ongoing transformation in the sector and to foster efficient collaborations in various areas from education to innovation."

"In the coming period, we aim to expand and strengthen our current activities in line with developments in the automotive industry, prepare our exporters for this transformation, and assist them. We will continue to work in close cooperation with industry stakeholders in Bursa and across the country during this transformational process."