TURKEY AUTO SECTOR GROWS, BUT SLOWLY BECAUSE OF HIGH TAXES
March 15th, 2014
Turkey's automotive market grew strongly in 2013, driven by strong economic growth and a government incentive scheme designed to boost investments in the sector. However, high taxes are limiting growth and imports still dominate the market.According to data from Turkey's Automotive Manufacturers Association (OSD - Otomotiv Sanayii Dernegi), the passenger car and light commercial vehicle market grew 9.7% in 2013, with total sales reaching 853,378, compared with 777,761 in 2012. The passenger car market grew 19.48% to 664,655, although the light commercial vehicle ...
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