5/31/2010

USD 5 billion invested in Turkish automotive industry in five years

 

Sabah - The Turkish automotive sector has received investments worth USD 5 billion between 2006 and 2010. The peak was reached during the pre-crisis year of 2008, when investments reached USD 1.3 billion. The year 2006 saw the Turkish automotive industry receive USD 1 billion 36 million worth of investments, marking the second highest amount in half a decade. Meanwhile, last year saw a decline in the amount of investments, caused by the global financial crisis, however, Turkish car makers still managed to invest USD 672 million, which is poised to increase in 2010 as the economic recovery starts to pick up. Investments in the automotive sector largely are channeled to the manufacturing of new models, followed by capacity increases, modernizations, quality increases and indigenous production. 

Turkey; automotive sector; automotive investments; car maker; economic recovery

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