12/8/2010

Turkey emerges as auto production powerhouse

Wall Street Journal - Turkey, rarely thought of as a global automotive hub, will this year overtake the Czech Republic as the biggest car maker in Eastern and emerging Europe outside of Russia, according to industry forecasts. Turkey is producing almost one-third more cars this year than last. Sales of cars and light commercial vehicles in Turkey were up 31 percent this year through November, compared with a year earlier and manufacturers say they are struggling to meet demand.

"Turkey is developing into a globally competitive auto hub, largely under the radar. It has a huge domestic market and the government appears to be reforming the economy in a way investors find attractive, so its growth is likely to continue," said John Wormald, Director of Autopolis, an auto-industry consulting firm.

Auto exports are surging. Seven out of every 10 vehicles made in Turkey are exported. The USD 22 billion auto industry employs more than 230,000 workers, and accounts for 20 percent of Turkey's total exports, according to Deloitte, a financial-advisory firm.
turkey; automotive industry; automotive production; automotive exports; Czech republic; autopolis; deloitte