Jump to content
Sign in to follow this  
Abby Yuan

Sales of automobiles fell sharply due to Turkey's economic crisis

1 post in this topic

Recommended Posts

According to foreign media reports, Turkey's economic crisis has had a serious impact on car companies including Ford, Toyota and Fiat Chrysler. After the devaluation of Turkey's Lira, Turkey's new car prices rose, leading to a drop in new car sales by about a third in 2018.

New car sales in Turkey fell 34% to 543,231 in the first 11 months of 2018 compared with the same period last year, and fell 42% to 58,204 in the first 11 months of November, according to data from the Association of Automobile Dealers in early December. The Turkish Association of Automobile Manufacturers said that by the end of November 2018, Turkish automobile production had fallen by 8% to 1.43 million vehicles from a year earlier, and export volume was basically the same as last year, to 1.22 million vehicles.

It is reported that Turkey attracts many car companies to put into production mainly because of its low production costs, rich resources of skilled and semi-skilled workers, and easy access to the European Union, Eurasia and the Middle East market. Many car companies have localized production in Turkey and provided customized models for the local market. European consumers prefer hatchbacks, while Turkish consumers prefer cars, which account for about half of the local market.

As a supplier of automotive parts, Feilong Jiangli is sure to look forward to the recovery of the automotive market, so that parts suppliers can slowly recover.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  
- Back to Top -

×