Turkish automotive companies focused on Russian market
Turkish automotive exporters stay focused on the Russian market where they have achieved the largest increase in sales. The reason is reports show Russia was the most growing market in automotive in 2017 with sales of 1 million 595 thousand units. In fact it is also reported that this year the Russian automobile market has made a good start and in January only sales of cars and light commercial vehicles in Russia increased by more than 102 percent to over 102 thousand units. According to European Business Association (AEB) data, sales of new passenger cars and light commercial vehicles (LCVs) in Russia increased by 31.3 percent in January compared to the same month of last year and reached 102.4 thousand.
Russian AvtoVAZ vehicles were the best-selling brand with Lada enjoying a sales increase of 29 percent to 21,000 cars, followed by Kia enjoying a sales increase of 49 percent to 15.3 thousand and Hyundai to 31.88 thousand followed by Renault 51 to 7.9 thousand and Volkswagen with a 22 percent increase to 5.6 thousand units.
Russia’s automotive imports, which amounted to 31 billion dollars in 2014, have dropped to 15 billion dollars in recent years. However, Russia’s motor vehicle market has grown again last year, reaching 1.6 million people.
As the Russian motor vehicle market is expected to reach 2.3 million units in 2020, the attention of Turkish automotive companies has been focused on Russia, again. In fact, the companies located in Bursa which an industry center have stepped into action to increase its share of the Russian market.
Within this scope, 10 Turkish companies have recently organized a tour of “Automotive Sectoral Trade Mission” to the Autonomous Republic of Tatarstan under the leadership of Uludağ Automotive Industry Exporters Union (OİB).
