Turkey Eyes Top 3 in Europe and Top 10 in the World in Automotive Sector

Turkey continues its efforts to develop own design in cooperation with its supply companies. Turkey aims to increase R&D investments locally and attract R&D investments from foreign countries. In fact Turkey would like to be referred to as “A Center of Excellence” as far as technology is concerned.

Turkey has not made any revisions to its existing strategy and targets to have a word in concerned sector, despite the negative impacts of the global crisis. Turkey is determined to reach its targets of 2 million production, 1,5 million exports, US$ 50 billion worth of exports and a total employment of 600 thousand in the near future.

Hence the Turkish Automotive Industry is expected to rank among top 10 in global motor vehicle production, top 3 in European Union countries and among top 5 in terms of R&D expenditures in EU.

This sector is certainly expected to become locomotive of Turkish exports which is estimated to reach US$ 500 billion by 2023.

01 April 2011
SECTOR/BUSINESS TURKEY TODAY