BGC Partners - BGC Partners: Turkish Automotive Export Data Apr-19: Tofas/Neutral, Ford Otosan/ Positive

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BGC Partners

Berna Kurbay

EUR 103.34 For Business Accounts Only

BGC Partners: Turkish Automotive Export Data Apr-19: Tofas/Neutral, Ford Otosan/ Positive

Turkish automotive exports declined by 9.7% y/y in Apr-19 with Tofasâ€™ exports down by 16.4% and Ford Otosanâ€™s up by 26.4%/TOASO-neutral, FROTO-slightly better. According to data from OSD (Automotive Manufacturersâ€™ Association), there was a 12.4% y/y decline in Turkish automotive sector exports to 107,020 units in Apr-19, while exports fell by 7.4% YTD to 431,005 units. Turkeyâ€™s automotive exports declined by 7% y/y to US$10,550mn in Jan-Apr â€™19. A weaker EUR against the USD as well as the contraction in the European passenger car market (-3.3% y/y in 1Q19) are the main culprits behind the decline. On a company basis,

14/05/2019 2 EN

Provider

BGC Partners

BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.

We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:

Mergers & Acquisitions
Equity Capital Markets
Debt Finance & Advisory

See profile

Analysts

Berna Kurbay

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BGC Partners: Turkish Automotive Export Data Apr-19: Tofas/Neutral, Ford Otosan/ Positive

BGC Partners: TURKEY - Central Government Budget continued to improve in February

BGC Partners: TURKEY - CBT Expectation Survey: No major change in inflation forecasts and a 50bps rate cut expectation from the CBT next week...

BGC Partners: TURKEY - Retail sales volume maintained a strong trend in January

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