Automobile sector plays a vital role in the Turkish economy as it has taken an important place in the export mix of the country. Automobile exports from Turkey made up nearly 75% of its total auto production in 2007, a straight growth of 18% from the previous year. Increasing export volumes are making Turkey the next export hub for automobile, says the RNCOS research report – “Turkey Automobile Sector Forecast (2008-2012)”.
The emergence of Turkey as an export center is attracting major players from across the world to invest in the auto sector. In fact, FDI inflow in the sector has been continuously increasing from past few years on account of the country’s strategic location and proximity with both European and the Middle East countries. And taking the benefits of government incentives, various automobile giants have made Turkey a gateway to enter the European auto markets.
This report comprehensively studies the Turkish automobile market, comprising of passenger cars, commercial vehicles, tractors, and automotive component market. It also evaluates the export market and opportunities for the automobile and its associated industries.
Key Findings of the Report
- Free Trade Zones (FTZs) are designed to encourage trade to and from Turkey, boosting the automobile sector of the country.
- Passenger car segment has the largest share in all aspects of the automobile industry, i.e., exports, production, imports and sales.
- Automobile production in Turkey grew by 11% in 2007 over 2006.
- Automotive component production grew at a CAGR of 21.55% during 2003–2007.
- The annual automobile production is estimated to increase to 1.8 Million by 2012.
- Exports by the Turkish automobile industry are projected to surge at a CAGR of 11.49% during 2008-2012.
Key Issues & Facts Analyzed in the Report
- What are the driving factors for the Turkish automobile industry?
- What are the trends in the automobile component industry?
- What are the opportunities for the automobile and associated industries?
- Which segment of the automobile sector holds major share?
- What would be the projected growth of the automobile industry?
- Who are the major players in the Turkish automobile industry in terms of production, exports and sales?
Research Methodology Used
The information has been taken from authentic and reliable sources like books, newspapers, trade journals, white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to more than 3000 paid databases.
Methods, like historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis, have been used in the report for prudent analysis.