Automotive Sector Set For Record

automotive-sektorTurkish automotive sector is expected to set record in terms of production, domestic market and exports in 2015.

In 2015, Turkish automotive exports expected to break record with the number of 925 thousand units and as for the production to reach over 1,225 thousand units Turkish automotive sector is predicted to reach foreseeable record level in terms of total vehicle production and exports in 2015, expectation for the next year would be in the same level. Suheyl Baybali, General Coordinator of TAYSAD, the Association of Automotive Parts & Components Manufacturers, said; “We predict the total production will be 1,3 million units and the automotive exports will be nearly 900 thousand units in 2016.” According to the expectations from Turkish Automotive Manufacturers Association, the sector exports will reach by the number of over 925 thousand units, production to the number of over 1,225 thousand units with the effect of the new project investments and models, as well as activity in the European market.

The automotive sector has a special importance in terms of Turkey’s overall exports targets that set for 2023. While the sector has the targets to achieve 4 million unit in the production and 3 million in the exports; as for the export income worth $75 billion is expected to accomplish by 2023. In this scope, the investment incentives which had been carried out in 2012 and 2013 have supported acceleration in the investments of the sector. In line with the sector investments, many Turkish automotive and supplier firms such as Tofas, Ford Otosan, Renault and Toyota have announced their investment decisions. Evaluating the automotive and supplier industry exports, Suheyl Baybali stated the sector exports had increased both based on unit and euro, in response regarding dollar has gotten value globally, the sector export value recorded plunge.

Meanwhile the Turkish automotive and supplier industry tries to increase market share based on dollar in the U.S., Iran and African countries. Following traditional European market of Turkish automotive industry, the U.S market comes on the line. Turkish automotive exports to this country increased 90 percent to $560 million in the first nine months. Meanwhile an outstanding rise is expected in the exports by the new trade relations to this country in 2016. Baybali said the export volume would boost together with Ford Otosan’s Transit exports and new trade connections to the U.S. with the cooperation to be started in Detroit which is the automobile manufacturing center of the U.S.