Invest News DetailReferans – Economic deceleration as well as price increases in oil, steel and other raw materials have thrown a wrench in the production plans of the global automotive actors. As a result of the decrease in demand and price increases in the raw material at a worldwide level, especially some brands including Renault, BMW, Daimler, as well as, Volvo and companies particularly in USA and Western Europe have decided to suspend or stop the production processes of some new models. Daimler has decreased the number of the Mercedes automobiles they have previously intended to produce in their plants this year in Germany by 45,000. Renault has stopped working on the crossover vehicle aimed at being produced at the basis of Megane model. Furthermore, it has also suspended the production of the models to replace large minivan Espace and luxurious automobile Vel Satis. France will also slow down the production processes of Scenic and Megane models in Douai plant until the end of the year. While Volvo has put its production plans for the new versions of C30 model aside, production plans regarding the new luxurious vehicle to replace Signum, the luxurious vehicle of Opel, has also been abandoned. Türkiye has not been significantly affected by these decisions of new model production postponement given by producers. Turkish automotive industry, which predominantly exports commercial vehicles and small motor volume automobiles, plans to produce 1.3 million vehicles (950,000 of them will be exported) and an export revenue of $25 billion.