PRLog (Press Release) – May 05, 2011 – Figures released show that new vehicle sales in Turkey rose sharply by 88% y-o-y, to 58,594 units, in February 2011, according to the Automotive Distributers Association. Sales of passenger cars and commercial vehicles increased y-o-y 89%, to 39,004, and 86%, to 19,590 respectively in February 2011. BMI stands by the view that robust domestic demand in Turkey will make its auto market a significant outperformer in Europe during the remainder of our forecast period to 2015.
Turkey is also poised to become a production base for electric cars, as it seeks to attract investment in this field. There is limited demand at present for electric vehicles (EVs) in emerging markets (EMs) such as Turkey, but the market in Turkey is predominately concerned with expanding production for external markets. Turkey has much more to offer carmakers than just sales. Its low cost of production and ideal location make it well positioned to undertake large scale EV manufacturing projects. Meanwhile, as consumers in Europe are shifting towards smaller and more fuel-efficient cars, Turkey is starting to become a producer of parts for the growing electric car industry.
Overall, with positive growth for Turkey's automotive sector in 2010, selling 38% more vehicles than it did in 2009, the market is expected to maintain strong growth in 2011, as it feels the effect of renewed economic growth both internally and externally. BMI forecasts growth in both output and domestic bmw M5 specification ic.com/736/2012-nissan-gt-r-u-s-spec.html">nissan GTR specification sales for the Turkish sector. Though output has not yet returned to pre-crisis levels, it is expected to return to such levels within the next two years. Output stood at 1,094,557 in 2010, eclipsing slightly 2007 production of 1,108,413, yet still not as great as 2008's 1,147,110.
Meanwhile, as the government attempts to make Turkey an important vehicle producer and exporter, the prime minister has called on Ford Motor to increase its passenger car production in the country. Without doubt, this presence makes Ford Otosan fairly well placed to capitalise on Turkey's growth potential. BMI forecasts sales will grow nearly 44% in the next five years. Help will also come from the carmaker's plans to launch its updated Ford Transit in 2012. In view of this it is reportedly looking to invest EUR1mn at its Kocaeli facility. The success of the model at home is critical for the company, as it will help Ford Otosan maintain second position in the Turkish light vehicle segment.
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