Car sales in Turkey after the coronavirus outbreak increased by 26.3% compared to the same month last year. General automobile sales increased by 30.3% after the global epidemic and reached 121,455. After quarantine in Turkey, while light commercial vehicle sales increased by 12.2% and reached 9,405.
After the coronavirus outbreak, sales in the automotive sector in Turkey have picked up. In addition, against the epidemic effects following the coronavirus, sales of electric vehicles increased by 115 to 3,832. Let’s examine the automotive market and car sales by engine types and compare production and sales.
After Coronavirus Outbreak | Automobile Export in Turkey Increased by 3%!
Following the coronavirus outbreak, car sales figures have risen in the automotive sector in Turkey. Following the coronavirus outbreak, the increase in the real estate sector has been 55.8% in Turkey. The increase in sales in the sectors following the global epidemic draws attention with its positive reflections on the economy.
Following the coronavirus outbreak, global trade was opened to discussion. Turkey draws attention due to its geographical location in a strategic sense and its ability to manage the crisis with its trade network. After the COVID-19 in the world, global trade has come to a halt and the import-export balance has been shaken. Since tourism and social life have come to a halt, it has had negative effects on the domestic markets. The crisis in all areas of life has also shaken the balance of production in the countries.
Disabling many countries, global trade restrictions have raised questions in mind about tomorrow. With advantages such as logistics network, strengthening economy, production volume, young labor force, a new era has started in Turkey. Aside from countries going through this process by turning in on themselves, the Turkish economy of a kind that has become stronger with the increase of the supply chain is foreseen.
Top Selling Vehicles in 2020 in Turkey
Even after the coronavirus outbreak in Turkey, vehicle sales rapidly approach the target. Given the strong health measures taken, Turkey continues to develop commercially without any breaks. Following the coronavirus outbreak, mobility is observed in all sectors ranging from construction to the automotive industries.
3 best-selling car brands in 2020 in Turkey:
FIAT: 12,781 Passenger Cars – 6,958 Commercial vehicles
RENAULT: 18,778 Passenger Cars – 606 Commercial vehicles
VW: 14,033 Passenger Cars – 3,441 Commercial vehicles
Coronavirus Outbreak | Breaking the Mold with Changing Normals!
The effects of the global epidemic in the wake of coronavirus in Turkey will have a positive leveraged impact on the course of economy. Turkey maintains its stability in the financial sense and continues to fight the virus in a balanced manner following the coronavirus outbreak. In addition, the new period will have extraordinary effects on the Turkish economy. Depending on the changes in the positions of the players in the global trade, Turkey’s predictions, as a key country, would be absolutely correct.
Having a robust healthcare system, Turkey has capitalized on the effects of the global epidemic. Due to its geographical location, strong supply chain and most importantly its capacity to manage the crisis, Turkey has drawn a great deal of attention. While the power of the Turkish health system shows itself in all areas of life, it has also protected the economy.
The coronavirus outbreak, which affects the whole world, will leave its mark in all major economies, especially in China. In many countries, life has come to a standstill; in addition, there are pauses in terms of logistics and production in the commercial network. In foreign-dependent countries worldwide that continue to trade with restrictions, the disruption of trade has caused defects that will not improve for many years.
The Understanding of Common Action in the Global Economy Will Dominate!
It’s essential to address the world economy in order to interpret the increase in sales in the automotive industry in Turkey after the coronavirus outbreak. After the crisis, export products, which are vital for every country, cannot be traded. Accordingly, the economic measures plans involve the production of critical products and opening the remaining essential requirements to foreign trade. It is of great importance for the world economy that the world develops the ability to act jointly and takes strategic steps in this regard.
The trade wars between the US and China, which shape all world economies, have transformed and evolved into mutual accusations. The coronavirus outbreak, which has caused massive social and economic damages, is increasingly ignited between the two global powers. The whole world, on the other hand, will suffer greatly in economic and commercial terms. With a possible heart attack between China and the US, the crisis will become more complex.
Coronavirus Outbreak: Following the Global Epidemic Announced by the World Health
World Health Organization, it is predicted that China will distribute the supply chain all over the world and that this will lead to a globalization effect beyond what is expected. The ability to act jointly will improve with global transformation in the supply chain and physical change in the trade network between countries. This situation is inevitable with varying trade balances after the coronavirus outbreak. The coronavirus outbreak poses a great threat to neoliberalism. An ideological transformation worldwide is seen to be likely.
An Increase of 59% in Heavy Commercial Vehicle Market in Turkey After Coronavirus Outbreak!
Targets in the automotive market in Turkey are being achieved following the coronavirus outbreak. In January, the total automotive market increased by 89% to 28.025. Commercial vehicle sales in Turkey have met expectations. An increase of 55% has been achieved in the commercial vehicle market compared to the same month of the previous year. An increase of 59% was realized in heavy commercial vehicle market!
Automobile exports of Turkey increased by 3% to 60.438. When the 2020 data are analyzed compared to the same month of the previous year, an increase of 4% was achieved in automotive exports while a 6% increase was achieved in Euro. Total automobile exports increased by 27% to US$ 1 billion 33 million. If we examine it in Euro, automobile exports increased by 31% to 930 million.
Coronavirus Outbreak: Global Trade Trends
The coronavirus outbreak has had a significant impact on all sectors worldwide, including the automotive industry. Turkey has entered a recovery process in production and exports in the automotive sector in 2020. The number of light and heavy commercial vehicles and passenger cars increased. This growth trend is expected to continue throughout 2020. Especially in the automotive industry, the first 9- and last 3-month fluctuations in 2019 also affected the sales of 2020.
The automobile production in Turkey has increased by 6% compared to the same month of the previous year, according to data from January 2020. Total production was 109.783 and total automobile production was 75.396.
According to data from January, the total market share in Turkey increased by 101% to 22.016, compared to the same month last year. Following the global epidemic, it was determined by statistics that the domestic market progressed positively in exports as well as employment and production. When the trend of global trade balances is examined, it’s confirmed that the Turkish economy develops along with sectoral developments, which thus paves the way for foreign investments.
After the Coronavirus Outbreak, Trade Relations with the EU Are Being Re-Questioned!
We have said before that following the coronavirus outbreak, neoliberalism was put to some kind of test. In fact, we can see the global health crisis and this extraordinary commercial situation as a test for neoliberalism. It is possible that the countries will have a closed economic order after the coronavirus outbreak. A number of sanctions that had to be arranged and narrowed down in the neoliberal order were clearly visible. However, a radical transformation may be required after this epidemic.
While the effects of the coronavirus outbreak continue to spread rapidly in Germany, Italy and Spain, EU relations are being revised. Questions are growing rapidly in mind. While Germany was affected little in commercial terms due to its pluses, it is predicted that Italy and Spain will have serious problems and experience a long-term crisis. Even if it is a bold analysis, ideologies are expected to be questioned again. It is a definite fact that commercial problems will disrupt the possible balances. However, global actors are expected to act jointly with a common goal. It’s certain that with the right moves, Turkey will take advantage at certain points. You can read our more detailed article about the Turkish economy here. With this data, you will have many reasons to invest in Turkey after the coronavirus outbreak.
The most important detail we should consider after the global pandemic crisis is the origins of the global economy. It is certain that the measures taken in order to avoid a global liquidity crisis will be provided by a joint action.
Review Sectoral Performance with PESTEL Analysis!
It would be a good start to collect data to carry out an analytical prediction with PESTEL Analysis. In fact, it is very important to collect data before investing. You can analyze the institution you’ll invest in with PESTEL Analysis, which is used in combination with analysis tools such as SWOT analysis. As a result of appropriate research, you can collect the most accurate data. You can make an accurate performance evaluation by comparing with past data and analyzing long-term effects on sectors of problems such as the coronavirus outbreak or climate crisis.
What is PESTEL Analysis?
If you ask what PESTEL Analysis is, it is the evaluation report reached by examining the values that have an impact on an organization. It will enable you to evaluate the sector you will invest in by analyzing macro-environmental factors.
POLITICAL:
Political factors are the effects of government on sectors in a country. It shows the government’s policies and restrictions on businesses. Decisions that have a major impact on commercial activities have been taken by the government. For this reason, the decisions taken by the government should be examined first.
ECONOMIC:
If you’re planning investment activities in Turkey, economic performance in the country is the effective factor. Figures such as economic growth, inflation and interest rates, per capita income will greatly affect your investment. Situations such as the supply-demand balance in the economy have an influence on situations such as pricing in the sector you will invest. It is important for you to know and evaluate the economic factors of the sector or the company you will invest in.
SOCIAL:
Examine the social impacts on the sector or institution you will invest in. Factors determining the local workforce such as traditions and changes in the demographic structure of the population are important. All of these are also effective in marketing. It is vital to examine the charts of the sector or companies belonging to this sector before investing.
TECHNOLOGICAL:
You should follow the trends if you are going to invest in Turkey. Technological developments affect the operations of industries and markets. Technological developments are accompanied by sectoral developments. These developments may bring along the need for external resources or change the trends of the sector you will invest in. For this reason, you should examine the technological developments while doing this analysis.
ENVIRONMENTAL:
Although not as vital as other effective elements, it is a factor that has become important recently. It especially affects sectors such as tourism, insurance and agriculture. Measurement of carbon footprint, namely greenhouse gas emissions determined by the governments, environmental factors that have potential effects on the climate change crisis has gained importance.
There are practices embraced by companies around some ecological decisions determined by the government. Factors such as weather and environmental factors may have reflections at least as negative as the coronavirus outbreak. For this reason, measures are taken on sectors to prevent crises such as climate or health. In line with these measures, you should know and apply changes and precautionary decisions regarding the sector you will invest in.
LEGAL:
One thing that you need to consider before investing is the legal factors. Specific laws such as consumer protection laws, copyright and patent rights existing in the country should be known. One of the factors affecting global trade is the rules and regulations of countries. Any legislative changes made should be followed. It is recommended that you act in the company of a lawyer or legal advisor so that your movements are not restricted during any commercial activity.
All these factors vary from country to country or from industry to industry. For this reason, if you are planning an investment activity in any country, you should consider these factors.
