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Follow on Google News | Turkey Autos Report Q3 2010: New research report available at Fast Market ResearchNew Transportation research report from Business Monitor International is now available from Fast Market Research
Economic indicators thus far in 2010 have also given cause for cautious optimism. BMI forecasts strong GDP growth of 4.9% in 2010. Indeed, we expect Turkey to be a regional outperformer this year. Its healthy banking sector, diversified economic base and historically low interest rates and inflation all provide promising opportunities for domestic demand. Moreover, Turkish carmakers suffered from under-utilised capacities in almost all segments in 2009 and this concern largely remains as recovery in external markets is expected to remain weak. But the OECD has warned that growth could be curtailed by macroeconomic tinkering linked to the electoral cycle, with a general election due in 2011 and the government's popularity faltering, The OECD is also forecast rising unemployment, from 13.7% at the end of 2009, to 14.9% in 2010 and 15.9% in 2011 - relatively high levels for an OECD country. Unemployment tends to have a negative effect on the vehicle market as it reduces households' disposable income and damages consumer confidence. On a more positive note for the sector, the central bank may delay interest rate hikes to ward off the effects of the eurozone financial turmoil. This is likely to benefit the automotive market by keeping borrowing relatively cheap, supporting both financed purchases and consumer confidence. On the other hand, a significant rise in inflation owing to a rate freeze would corrode consumer spending power. Also, industry experts have warned that the end of scrappage schemes in Europe and the ongoing effects of the financial crisis and the bailout of Greece could have serious implications for Turkey. But the longer-term outlook is still strong. Foreign firms are looking to join forces with Turkish carmakers as the country increases its exposure to newer export markets, while also promising strong domestic demand. BMI estimates that a near doubling of the country's auto exports, and a more than 40% increase in domestic demand between 2009 and 2014, will ensure that total auto production capacity in Turkey exceeds 1.5mn units by 2014, nearly double the level seen in 2009. Meanwhile, the Turkish automotive industry attracted investments totalling US$5bn between 2006 and 2010, according to a June report in Balkans.com Business News. Investments peaked at US$1.3bn in 2008, with the second highest amount US$1.36bn in 2006. In 2009, levels tailed off to US$672mn, though the Invest in Turkey agency expects that to pick up in 2010 as the economic recovery kicks in. Investments largely go towards manufacturing new models, with capacity increases, modernisation, quality upgrades and indigenous production. For more information or to purchase this report, go to: - http://www.fastmr.com/ Report Table of Contents: Executive Summary SWOT Analysis - Turkey Auto Industry SWOT - Turkey Political SWOT - Turkey Economic SWOT - Turkey Business Environment SWOT Industry Developments - Europe - Crisis At Toyota - Table: Toyota Vehicle Recall Timeline - Toyota's European Dream - Opportunities For Some - Risk To The Industry Business Environment Ratings - Table: Western, Central And Eastern Europe Business Environment Ratings Industry Forecast Scenario - Table: Turkey Auto - Historical Data And Forecasts, Production - Table: Turkey Auto - Historical Data And Forecasts, Sales - Table: Turkey Auto - Historical Data And Forecasts, Ownership Rates - Trade - Table: Turkey Auto - Historical Data And Forecasts, Exports/Imports Macroeconomic Forecast - Table: Turkey - Economic Activity, 2007-2014 Competitive Landscape - Market Overview - Latest Developments - Government Policy - Commercial Vehicles - Suppliers - European Auto Suppliers In Global Rankings - Table: Europe - Top Automotive Suppliers (US$mn) Company Monitor - PSA Peugeot Citroen Regional Profile - Financial Woes - Focus On Faurecia - Merger Opportunity - Eye On Eastern Europe Company Profiles - Oyak Renault - Turk Otomobil Fabrikasi - Toyota Motor - Ford Otosan - Hyundai Assan Country Snapshot: Turkey Demographic Data - Section 1: Population - Table: Demographic Indicators, 2005-2030 - Table: Rural/Urban Breakdown, 2005-2030 - Section 2: Education And Healthcare - Table: Education, 2002-2005 - Table: Vital Statistics, 2005-2030 - Section 3: Labour Market And Spending Power - Table: Employment Indicators, 2001-2006 - Table: Consumer Expenditure, 2000-2012 (US$) BMI Methodology - How We Generate Our Forecasting Model - Sources About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. End
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