World Bulletin / News Desk
“In February 2017, EU demand for passenger cars increased only modestly, 2.2 percent, especially when compared to January’s double-digit figures," ACEA said in the report.
Overall passenger cars registration in February totaled 1,078,503 units, it said.
Despite the weak performance in February compared to the previous month’s 10.2 percent increase, the association noted that the new reading was close to February 2008 levels just before the economic crisis hit the automotive industry.
Among the major markets, France, Germany and U.K. all saw declines from a year earlier partially due to February having one working day less, the report said, adding the performance of 12 member states, who joined the bloc after 2004, drove the sales higher, showing a 15.9 percent hike in the month from a year earlier.
The EU is the largest export market for the Turkish automobile industry, which is vital for the Turkish economy as Turkey is home to several joint venture car companies such as Oyak Renault, Tofas-Fiat Chrysler, and Ford Otosan.
The Automotive Industry Association (OSD) of Turkey announced Monday that the auto exports in the first two months of the year surged 31 percent in numbers from a year earlier, and 60 percent in cars alone.
Total exports in January and February totaled $4.33 billion, up 21 percent compared to the same period last year, the OSD report said, adding passenger car sales jumped 92 percent, hitting $1.84 billion.
Office workers, farmers and radio hosts are taking on new nationalities, relocating their businesses or looking forward to lucrative alternative trade deals, as politicians struggle to come up with a plan.
The International Monetary Fund was going to be "attentive" to the consequences of the reform, which notably includes a sharply lower corporate tax rate, she told French radio station France Inter.
More than 9,000 new companies established in January, according to major business body
Company reaches settlement with EPA following investigation started in 2014
BIST 100 rises 0.51 percent; USD/TRY exchange rate drops to 3.7660
The European aircraft maker said in a statement that net profit nearly tripled to 2.87 billion euros ($3.6 billion) in 2017 from 995 million euros a year earlier.
BIST 100 rises 1.05 percent; USD/TRY exchange rate drops to 3.7820
Saudi Aramco's crude output in March will be 100,000 barrels per day (bpd) below its February level while exports will be kept below seven million bpd, the energy ministry said.
Turkish Central Bank says annual deficit rose to $47.1B in 2017
The figure follows up growth of 0.9 percent in the first quarter of 2017, 0.6 percent in the second, and 0.7 percent in the third -- all adjusted for price, seasonal and calendar effects.
BIST 100 rises 0.73 percent; USD/TRY exchange rate drops to 3.8040
Consumer Prices Index 12-month rate at 3 percent in January 2018, unchanged from December 2017
BIST 100 rises 0.43 percent, while USD/TRY exchange rate drops to 3.7980
Turkey has produced over 1.1 million tons red meat in 2017, TurkStat says
BIST 100 rises 0.88 pct; USD/TRY exchange rate falls to 3.80 while EUR/TRY exchange rate stays at 4.68
Olaf Scholz, of the Social Democratic Party (SDP) that this week struck a deal to reform Germany's so-called grand coalition government with Chancellor Angela Merkel, said Germany "doesn't need to dictate to other European states how they run themselves".