The automotive industry registered serious growth last year in Turkey and the statistics for the first two months of 2017 show the same positive trend, according to the Automotive Industry Association. Exports have also rose in this sector, contributing significantly to the country’s economy at the beginning of the year. Our lawyers in Turkey can assist foreign investors interested in setting up companies in this well-performing industry.

The production of vehicles rose by 22% at the end of the year

According to the Automotive Industry Association’s report, the number of vehicles produced by Turkish companies in this sector reached 266,490 units, which is a significant number for only two-month’s work. The number represents an increase of 22% compared to the same period of 2016. The same statistics show that factories increased the production of auto vehicles dedicated to exports. The car output registered at the end of February rose by 46%.

The total number registered by the exports in the automotive industry in January and February rose to 219,434, 20% higher than the same months of last year, with car exports registering an increase of 60%. Last month, the total output of the industry rose by 15%, to 138,369 units.

Most of Turkey’s automotive exports go to the European Union

The European Union remains, just like last year, the greatest trading partner of Turkey, including in the automotive industry. This is because some of the largest car producers in countries like France and Italy have factories or subsidiaries of the main companies in Turkey. Besides, some of the largest car manufacturers in Asia have also set up factories in Turkey in cities like Izmir, where they produce spare parts.

Turkey’s exports towards European Union countries rose by 15% in January, which the largest jump in export numbers in four years. During the first two months of this year, exports rose by 11.2%.

If at the beginning of the year, the Automotive Distribution Association announced a 10% shrink in the sales of automobiles in 2017, the Industry Association’s report contradicted this percentage.

For assistance in starting a business in the automotive field, please feel free to contact our lawyer in Turkey. Our law firm in Turkey can also offer information on the legislation related to the Transportation Law.