Turkey Cars Market in 2015 celebrates the new all time record not far from the 1 million wall. Despite recent months were reported flat, the industry boomed 26% advancing in 18th place in the World’s ranking.
Economic Outlook
Turkey’s economy defied all expectations and showed strong resilience in Q3 despite the inflamed political turmoil following June’s elections, which resulted in a hung parliament and dampened economic sentiment. GDP expanded 4.0% annually in Q3, which was above the 3.8% tallied in Q2. More recent data suggest that positive spillovers from November’s election carried into the final quarter of 2015.
In December, the manufacturing PMI hit a 13-month high and, despite moderating, business sentiment remained in positive territory. In recent months the government decided to intensify its offensive against Kurdish insurgents who have declared some neighborhoods in parts of southeastern Turkey “outside” the authority of the state. While this operation has been limited to certain cities thus far, if sustained it has the potential to escalate further and to add to an already entangled geopolitical situation.
Market Outlook
Despite during the last four months the market has been reported flat, during the 2015 the Turkish automotive industry flourished with a grow above any observer’s expectations.
As reported by the O.D.D., Otomotiv Distribütörleri Derneği (Car Distributors Association in Turkey), during the year light vehicles (cars plus LCVs) sales had been 968.015, (+26.1%) establishing the new all time record outpacing the previous, fixed in the 2011, by 104.000 units.
The crucial 1 million level is very close now, but according to our forecast will not be passed next year when the market is foreseen weak.
Volkswagen has confirmed the leadership with 139.043 sales in the year (+28.0%) with 14.4% of market share. Thanks to a roaring +36.6%, mainly driven by LCVs models, Ford advanced two spots n second place with 118.640 units, just ahead of Renault with 117.363 (+18.9%) and Fiat with 109.490 (+22.8%).
Volkswagen led the ranking at group wise as well with 20.6% of market share followed by Renault Nissan with 19.5% and Ford with 12.3%.
The Toyota Corolla was the best-selling model (in this case LCVs has not been considered) with 35.237 sales (+50.2%) ahead of the Fiat Linea with 35.041 (+8.7%) and the Renault Fluence with 33.764 (+4.7%).
Wishing to see the best-selling cars ranking with statistics for the top 100 models, see the report dedicated.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models
