In 2020, the automotive industry in Turkey continued to play a significant role in the country’s exports. Thus it is counting for a substantial portion of total exports, as per to data from the Turkish Statistical Institute.
The automotive industry accounted for approximately 16% of Turkey’s total exports in 2020. Total export value of around $35 billion.
The most produced automotive parts in Turkey
Finally the key factor of to the success is manufacturing high quality and competitiveness products.
The industry produced a wide range of automotive products, including:
- Automotive parts,
- Brake Lining
- Spark plug
and other components, which were exported to markets around the world.
According to the Turkish Exporters Assembly (TIM), the automotive sector is one of the largest contributors to Turkey’s exports. As a result, here below export status of the automotive industry in Turkey in 2020:
- Total Automotive Exports to Total Exports Ratio: In 2020, the automotive sector accounted for 24.7% of Turkey’s total exports, amounting to a total of $22.7 billion.
- Passenger Car Exports to Total Automotive Exports Ratio: Passenger cars made up the largest share of automotive exports in 2018, accounting for 57.4% of total automotive exports, or $13 billion.
- Commercial Vehicle Exports to Total Automotive Exports Ratio: Commercial vehicles made up the second-largest share of automotive exports in 2020, accounting for 30.5% of total automotive exports, or $7 billion.
- Bus and Minibus Exports to Total Automotive Exports Ratio: Buses and minibuses made up the third-largest share of automotive exports in 2020, accounting for 5.6% of total automotive exports, or $1.3 billion.
- Truck Exports to Total Automotive Exports Ratio: Trucks made up the fourth-largest share of automotive exports in 2018, accounting for 4.6% of total automotive exports, or $1 billion.
Turkey’s position in the global market in the automotive industry market.
The largest export markets for Turkish automotive products in 2020 were in Europe;
Including Germany, France, Italy, the United Kingdom, and the Netherlands, among others. As a result of export to these countries accounted for approximately 56% of Turkey’s total automotive exports in 2019. Total combined value of $19.5 billion.
Besides, Turkey also exported automotive products to countries in the Middle East, North Africa, and other regions. Together with these markets accounting for approximately 17% of total exports, or $5.95 billion.
The reasons why the Turkish automotive industry will be a lucrative market for many years to come
Another factor contributing to the success of the Turkish automotive industry in 2020 was the country’s favorable location and well-developed transportation infrastructure.
Because of these advantages helped to make Turkey an attractive destination for investment and manufacturing, as well as to facilitate efficient and cost-effective exports.
Finally, the export performance of the automotive industry in Turkey in 2020 demonstrated the sector’s strength and potential for growth.
Together with a focus on innovation and competitiveness, the Turkish automotive industry is well-positioned to continue its success in the years to come and to further solidify its role as a major player in the global automotive market.
Local advantages of the automotive industry in Turkey.
- Growing Economy: Turkey has a rapidly growing economy, which is expected to continue in the coming years, and this has increased the purchasing power of consumers, leading to increased demand for vehicles.
- Strategic Location: Turkey’s location at the crossroads of Europe and Asia makes it an important hub for the automotive industry, providing easy access to both markets.
- Government Support: The Turkish government has implemented policies to support the growth of the country’s automotive industry, including tax incentives and subsidies.