(MENAFNEditorial)
A sharp decline in commercial vehicle (CV) manufacturing resulted in a decline in Turkish vehicle production of 1% year-on-year (y-o-y) in the first eight months of 2014 to 719501 units. A surge in passenger car output during this period was not enough to arrest this decline. BMI forecasts a 0.5% increase in total vehicle output in 2014 due to sustained growth in the passenger car segment and a modest recovery in CV production.
BMI maintains a bullish view on the country's autos exports outlook following an increase in vehicle exports in 2014 to date of 5% y-o-y to 569973. This reflects the European passenger car market's resurgence from a period of marked declines and sustained currency weakness which makes Turkish exports more competitive. Furthermore a number of auto manufacturers have invested in the country for export.
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Despite the growth in passenger car exports CV exports remain weak and we expect this segment to continue to register declines over the full year.
Total vehicle sales in Turkey in 8M14 declined 21% y-o-y to 430158 units. Generally sales in both the passenger car and CV segments have remained weak over the year to date. BMI forecasts a decline of 21% in vehicle sales in 2014.
The Turkey Autos Report features the latest data and forecasts covering production sales imports and exports.
Business Monitor International (BMI)'s Turkey Autos Report provides industry professionals and strategists corporate analysts auto associations government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Turkey.
Key Benefits
* Benchmark BMI's independent automotives industry forecasts on Turkey to test other views - a key input for successful budgetary and planning in the Turkish automotives market.
* Target business opportunities and risks in the Turkish automotives sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in Turkey.
* Assess the activities and market position of your competitors partners and clients via our Competitive Landscape Analysis.
Coverage
BMI Industry View
Summary of BMI's key industry forecasts and views covering production sales and the introduction of new technology or products.
Global Regional and Country Industry Overviews
In-depth analysis of the major global and regional developments in the market which can be linked with the country industry overview providing cross-country investment product and financing trends that will affect each market supported by BMI’s global and regional industry forecasts.
Business Environment Rankings
BMI's proprietary Autos Business Environment Rankings are a unique country-comparative Risk-Reward Rankings index that separately analyses the risks and rewards of operating in each market. It is aimed at investors (including manufacturers suppliers and dealers) who seek to either identify and compare market opportunities or evaluate country-specific operational challenges.
The rankings methodology makes sophisticated use of over 40 industries economic and demographic data points.
BMI Industry Forecasts
Historic data series and forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions plus analysis of key downside risks to the main forecast including:
Total production value (US$bn); total production of units; production by vehicle-type (including cars commercial vehicles trucks and buses); total sales value (US$bn); sales by vehicle-type including passenger cars and commercial vehicles (vans and microbuses pickups trucks and buses 4 wheel drive); total exports by value (US$bn) and by units; total imports by value (US$bn) and by units; contribution to GDP; employment in industry.
BMI Economic Forecasts
BMI forecasts to end-2018 for all headline macroeconomic indicators including real GDP growth inflation fiscal balance trade balance current account and external debt.
Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles enabling a full evaluation of recent company performance and future growth prospects.
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