Turkish automotive sector going through a rapid industrialization and advancement period has been turned into a fully-fledged industry with the ability of design and extensive production capacity from partnerships mainly based on assembly. Investments made by original equipment manufacturers (OEM) in the sector have significantly developed the manufacturing capabilities of manufacturers and have made Turkey an important actor of the global value chain of international OEMs. Due to the advantages provided by its competitive and qualified labor, dynamic domestic market and convenient geographical location, the vehicle production in Turkey exceeded 1,7 million vehicles in 2017. The significant performance of the automotive sector enabled Turkey to be the 14th largest automotive manufacturer of the world and the 5th largest automotive producer of Europe as of the end of 2017.
OYAK Renault, one of the group companies of OYAK operating in the Turkish automobile sector as a manufacturer, produced 365 thousand automobiles and exported 288 thousand automobiles as of the end of 2017, and managed to be on the top of the list in the sector in terms of both the production and export of automobiles. The company ranked 4th in the general ranking of Turkey and in the sectoral ranking in the list of top one thousand exporters for 2017 as announced by the Turkish Exporters Assembly (TIM) in June 2018. OYAK Renault ranked 5th in the ISO 500 list based on the data of 2017.
Our subsidiary, MAİS, providing sales and after-sales services, had a market share of 18,7% in the automobile and light commercial vehicle market with Renault and Dacia brands in 2017.
According to the data of the Central Bank of the Republic of Turkey, total vehicle loans stock by the end of 2017 has increased to TRY 52,9 billion, up by 10,9% compared to 2016. As of the end of 2017, the total volume of vehicle loans of financing companies has increased to TRY 28,0 billion, and total volume vehicle loans of banking sector has increased to TRY 24,9 billion. TRY 18,0 billion of the said vehicle loan stock is consisted of consumer loans, while TRY 34,9 billion is consisted of business consumer loans.
Operating in the field of automotive financing, ORFİN Finansman A.Ş. gathers together all the loan and related insurance products needed for the sales network of Renault MAIS, and offers high quality automotive financing solutions to its clients through advantageous campaigns and wide product and service range.
The amount of loan granted during 2017, excluding the dealer stock financing, has increased by 59% to TRY 2 billion. The live loan balance size, including the dealer stock financing, has increased by 59%, compared to 2016, to TRY 2,8 billion at the end of 2017, and the company has taken its place among the leading companies of the sector by reaching to 10% of the total live vehicle loans balance of the financing companies.
The advantageous geographical position of Turkey offering an easy access to Europe, Central Asia, Middle East and North Africa allows Turkey to act as a base for cargo transportation in the region. The Turkish logistics sector has a 12-13% share in the country’s GDP with its current volume.
Logistics and Transport sector has been one of the 9 sectors prioritized for transformation in the 10th Five-Year Development Plan prepared by the Ministry of Development. The sector has recorded an average annual growth of 17,05% during the period of 2009-2013, and it is estimated that the total size of the sector will increase to USD 250 billion according to the GDP targets for 2023.
Ranking second after tourism in service export, which our country is a net exporter, the Logistics sector provides a foreign currency contribution of more than USD 15 billion annually to the Turkish economy. The share of Logistics sector in the service export, which is targeted to be USD 150 billion in 2023, is estimated to be around USD 60 billion.
OMSAN Lojistik, a subsidiary of OYAK operating in the logistics sector as one of the pioneering and innovative companies, offers logistics services within the scope of domestic and international land, sea, air and rail transport, storage, distribution, warehouse management, home and office logistics, customs clearance and insurance services for the pioneer firms of many sectors including, in particular, automotive, iron-steel, cement-construction, fuel, textile, retail and communication sectors.