There are many industries which contribute to the Turkish economy, however, in the last year, the automotive export became one of the most important players. Since the beginning of the year, this sector kept a steady pace and continued to grow up to the point in which it reached the highest peak in March. Investors who want to explore this industry must comply with specific regulations which can be explained by a lawyer in Turkey.

The Turkish automotive sector, the best industry in February and March

Turkey started 2018 on a good path from an economic point of view. Several industries registered good results in the first trimester, however, automotive exports had the best results. While in February, exports of automobiles and spare parts brought an income of more than 3 billion USD, March was even better. Exports rose by 16% from one month to another, as the total exports in the automotive industry reached a record-breaking value of 3,14 billion USD. This means that auto vehicles exports represented 21% of the total exports recorded by Turkey since the beginning of the year.

Our law firm in Turkey can help foreign enterprisers interested in setting up trading companies.

Some of the largest automotive companies are operating in Turkey

The automotive industry was performing the best since the end of 2017, when it registered good results in both production and export numbers. In terms of production, Turkish companies registered a 13% increase, meaning they produced 1,674,000 units.

Another record registered in 2017 was surpassing the 1 million units produced before the end of the year. Also, compared to 2016, this industry rose by 18%. In the last 10 years, automobile production has grown twice, representing the most spectacular development of a Turkish industry in such a short time span.

At the moment, some of the largest automotive companies in countries like the USA, Japan, Italy and Germany have production plants in Turkey, without mentioning the national production of vehicles dedicated to passenger transport.

For full information on the legislation related to starting a business in the automobile industry, please contact our Turkish lawyers. We can also guide you through the company registration procedure.