Maybe you mean: 'turkiye-otomotiv-sektorune-genel-bakis-tr' or 'segmentler' or 'almanya-top-5-tr' or 'anasayfa-slider' or 'car-dealership' or 'goodnews-header'
IN THE AFTERMATH OF THE 2008 GLOBAL FINANCIAL CRISIS, AUTOMOTIVE PRODUCTION SHIFTED FROM NORTH AMERICA, EUROPE AND COUNTRIES LIKE JAPAN, WHICH HAVE BEEN STEADILY GROWING IN THIS SECTOR FOR YEARS, TO COUNTRIES WHERE CAR OWNERSHIP RATES ARE FAR FROM SATURATION LEVEL.
During that period, Turkey tripled its production. Number of companies that came to Turkey increased, direct foreign investments rose and the upsurge is still going on. The expectation that the East will further its advantage over the West is the significant factor behind this rise. Especially after 2000, the investments that global manufacturers made in Turkey shifted from assembly to technological renewal, new model investments and R&D aimed at gaining competitive edge. Turkey’s vehicle production (except tractors) grew by 12.7% during that period. Furthermore, automotive, as an R&D-intensive industry, became the country’s top exporter.
Turkey’s main automotive industry now has comparative superiority over many other countries in the automobile segment, as well as great competitive edge in the truck and bus segments. Among the countries with the highest increase in production performance in 2016, Turkey was 6th in Europe and 15th worldwide. It is also the leader in motor vehicle exports to the EU.
Turkey’s automotive production volume is expected to reach 100 million by 2018. This means an increase of 1.3% over 2017. Additionally, monetary policies of the Turkish Central Bank, the determination to fight inflation, shrinking current accounts deficit, and rapid economic growth will have a positive impact on the industry as well.
DEVELOPMENT OF VEHICLE EXPORTS
- Million $