Vehicles sales in Turkey seen to hit 820,000 units this year

Article by Anita Panait, on September 1, 2013

Vehicle sales in Turkey are expected to reach around 820,000 units this year, according to Tofas chief executive Kamil Basaran. Tofas, a joint-venture between Fiat and Koc Holding, reiterated its production target for 2013 at 255,000 vehicles, of which 160,000 units will be exported. Tofas built 256,428 vehicles and exported 154,069 units in 2012.

Basaran told Reuters that economic conditions in Turkey in next month may results to a slightly lower than expected results, citing rising interest rates and a weakening Turkish Lira. He remarked that in September and October, the rising cost of loans, as well as exchange rate increases, little by little will be added into vehicle prices. He noted there will be an increase in prices of imported brands, due to pressure from the euro and dollar, adding that "competition will become more of an issue," he said.

Tofas imports Fiat Group vehicles from the Fiat, Alfa Romeo, Lancia, Jeep, Maserati and Ferrari brands. The Turkish economy only jumped 2.2 percent in 2012 as local demand slowed down. The Turkish economy is expected to grow between 3 and 4 percent this.

The Turkish Lira has dropped 14 percent against the dollar, hitting a record low on Wednesday due to concerns on a possible United States-led strikes against its neighbor Syria as well as following a decision by the central bank to rule out rate hikes to defend the currency. Tofas exports light commercial vehicles to 80 countries in Europe, the Middle East, North Africa and South America. The company will soon commence exporting its new Doblo van in North America.

Topics: turkey, sales

If you liked the article, share on:

Comments

Recommended

The Honda Ridgeline pickup turned out to be a success when it first came out in the market. In the first half of 2017, the company has already delivered over...
by - July 28, 2017
Rolls-Royce has been around for decades now, and we have seen the Rolls-Royce Phantom for eight generations in the span of around 100 years. Of all models, this is probably...
by - July 28, 2017
The first time Porsche revealed the Panamera Sport Turismo to the public was during the 2017 Geneva Motor Show earlier this year. And now it has already entered production, and...
by - July 27, 2017
Autocar has got some juicy rumours for us regarding a new McLaren hypercar. The British publication has inside sources claiming that a new model will be added to the Ultimate...
by - July 27, 2017
Ferrari has recently launched the New Power15 extended warranty program. The company developed this program in response to the notion that supercars are very expensive to maintain. Truth be told,...
by - July 27, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries