Turkey is one of the most prominent export oriented automobile markets in the world. The country is driven by high production volumes and a very high ratio of exports to production. Domestic market is characterised by tremendous demand potential, low penetration, and favourable regulatory policies. Supported by all these factors, the production growth of automobile production again increased in 2010 and sales grew faster than the previous year. It is expected that the sales of vehicles in terms of volume will increase at a CAGR of around 13.5% during 2011-2014.
According to our latest research report “Turkey Automobile Sector Forecast 2014”, the automobile industry witnessed a sharp comeback during 2010 after a slump in 2009. General economic conditions are continously improving in the country leading to higher disposable incomes and stable business environments, thereby promoting the need for both personal use and commercial use. As demand will increase due to the aforementioned and various other factors discussed in the report, vehicle production will also continue to rise. Besides, global manufacturers will look for capacity expansions in coming years.
The automobile trade market in Turkey is extremely developed as it is seen as a strategic export location for manufacturers producing vehicles and components in the country and then exporting it to countries, such as France, Italy, Germany, the UK, Spain, etc. It also provides significant opportunities for component manufacturers as vehicle manufacturers in the region look towards them for high quality auto parts with a reasonable price tag. Automotive component and other supplementary industries are also set to gain from the improving market conditions.
Besides, the report analysis factors critical to the success of the automobile industry in Turkey. It has also identified key players in the market and contains their detail business description along with their recent activities. Additionally, the report not only discusses the market structure, current, and past market performance of the automobile industry in Turkey, but also sheds light on the emerging market trends. Forecast for both sales and production of all important segments of market, such as Passenger Cars, Trucks, and Buses have also been included to provide a better understanding of the automobile sector in the country.
