Photo: Fiat
Turkey is a great example of how a country can base its economy, or most of it, on automotive manufacturing - cars, parts, as well as the associated services. The country has largely been immune to the European economic situation, yet this year analysts predict a 10% drop in the local car market.
However, the Turkish government is staying optimistic, and they have very big plans for the next decade. They plan on becoming one of the world’s 10th largest economies by 2023, which will coincide with the 100th anniversary of the creation of the Turkish republic. The automotive sector is currently the strongest component of their economy, and over the past 10 years, some 13 automakers have chosen to produce cars in the country, including Fiat, Renault, Ford, Hyundai, Toyota and Honda.
They plan to base this aggressive economic growth on the automotive industry, as well as the adjacent industries which it needs, in order to function optimally. Last year, they had a total output of 1.2-million cars, yet by 2023, they want to have closer to 4-million units, thus boosting their profits from $20-billion last year, to an estimated $75-billion.
Story via europe.autonews.com
They plan to base this aggressive economic growth on the automotive industry, as well as the adjacent industries which it needs, in order to function optimally. Last year, they had a total output of 1.2-million cars, yet by 2023, they want to have closer to 4-million units, thus boosting their profits from $20-billion last year, to an estimated $75-billion.
Story via europe.autonews.com
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