Vehicle prices have increased during the past few months which triggered the development of a new sector in the automotive industry in Turkey: the car leasing branch. Several reports indicate it is much convenient for individuals to lease cars they intend to use for various purposes. Turkey is also a preferred destination for car parts manufacturers which is why starting a business in the automotive industry will most likely develop over the next years. Our lawyers in Turkey can assist investors who want to create businesses in the automotive sector.
Since the beginning of the year, the Turkish government has imposed various taxes which have led to the increase in vehicle prices, affecting mostly the population. Together with the higher exchange rates, the prices of automobiles have increased even more which is why Turkish residents have found it more convenient to start leasing cars.
With respect to companies, most of them already use car leasing services, which is why this sector is expected to grow even further.
The end of 2017 is expected to bring a 10% to 12% increase in the car leasing sector in Turkey.
Our Turkish lawyers can help with the registration of a car leasing company in this country.
With increasing numbers in individuals and companies leasing vehicles rather than buying them, the car leasing sector in Turkey is expected to develop substantially, according to several reports. As mentioned above, the end of this year in expected to bring an increase in car leases of up to 12%, thanks to the rising demand coming from both Turkish companies and citizens who will find it better to have lower maintenance costs. Companies which have large car fleets, on the other hand, will also find it more reasonable to lease cars while reducing administrative costs and the risks related to vehicles ownership.
In 2018, the car leasing industry is expected to continue growing, however there is a high possibility of the increase to be slightly lower.
Foreign enterprisers interested in starting a business in the automotive industry are invited to contact our law firm in Turkey for guidance.