Automotive Industry
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REPUBLIC OF TURKEY PRIME MINISTRY
Investment Support and Promotion Agency of Turkey
TURKISH AUTOMOTIVE INDUSTRY REPORT
AUGUST 2010 DECEMBER 2009
CONTENTS
1. 2. 2.1 2.2 2.2.1 2.2.2 2.3 2.4 2.5 2.6 Executive Summary Sector Overview Global Sector Domestic Sector Overview Main Players Positioning Map Sector Outlook SWOT Analysis Establishments and Institutions 3 4 4 7 7 11 14 15 16 18 19 20
LIST OF FIGURES ABBREVIATIONS
2
1.
Executive Summary
Turkey’s automotive sector’s foundations date back to the 1950s when the first production under license from Ford, Renault and Fiat, in a heavily protected domestic market, began. Over recent decades, it has grown substantially, due to two main factors: the large size of the domestic market where individuals were gaining increasing purchasing power as the economy developed; and the enormous expansion of international trade especially following the Customs Union Agreement signed with the EU in 1996. These fundamental factors also drive the long-term growth expectations. In recent years, the automotive sector has become the country’s leading exporter, with total exports of USD 1 16.9 billion in 2009, which constituted 17.4 percent of Turkey’s total export revenues. Exports were USD 2 8.7 billion in the first six months of 2010. Total production increased with a CAGR of 14.3 percent from 2002 to 2009. During 2009, 869,605 units 3 were produced, with over 85 percent of this figure by four main manufacturers alone. There has been a substantial amount of foreign investment in the sector. Three out of those four main producers, Ford Otosan, Oyak-Renault, and Tofas-Fiat, are partnerships between Turkish and foreign carmakers, while Toyota, the other main producer, is now wholly Japanese-owned. Automobile ownership per capita has increased considerably in Turkey over recent decades and it is expected to increase further as the current level of 104 cars per 1,000 people is still low compared with 5 countries such...
Investment Support and Promotion Agency of Turkey
TURKISH AUTOMOTIVE INDUSTRY REPORT
AUGUST 2010 DECEMBER 2009
CONTENTS
1. 2. 2.1 2.2 2.2.1 2.2.2 2.3 2.4 2.5 2.6 Executive Summary Sector Overview Global Sector Domestic Sector Overview Main Players Positioning Map Sector Outlook SWOT Analysis Establishments and Institutions 3 4 4 7 7 11 14 15 16 18 19 20
LIST OF FIGURES ABBREVIATIONS
2
1.
Executive Summary
Turkey’s automotive sector’s foundations date back to the 1950s when the first production under license from Ford, Renault and Fiat, in a heavily protected domestic market, began. Over recent decades, it has grown substantially, due to two main factors: the large size of the domestic market where individuals were gaining increasing purchasing power as the economy developed; and the enormous expansion of international trade especially following the Customs Union Agreement signed with the EU in 1996. These fundamental factors also drive the long-term growth expectations. In recent years, the automotive sector has become the country’s leading exporter, with total exports of USD 1 16.9 billion in 2009, which constituted 17.4 percent of Turkey’s total export revenues. Exports were USD 2 8.7 billion in the first six months of 2010. Total production increased with a CAGR of 14.3 percent from 2002 to 2009. During 2009, 869,605 units 3 were produced, with over 85 percent of this figure by four main manufacturers alone. There has been a substantial amount of foreign investment in the sector. Three out of those four main producers, Ford Otosan, Oyak-Renault, and Tofas-Fiat, are partnerships between Turkish and foreign carmakers, while Toyota, the other main producer, is now wholly Japanese-owned. Automobile ownership per capita has increased considerably in Turkey over recent decades and it is expected to increase further as the current level of 104 cars per 1,000 people is still low compared with 5 countries such...