Turkey 2019. Yamaha shines in a market down only 1%

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Turkish Motorcycles Market in the 2019 performed better than expected, while the car industry collapsed. Indeed, motorcycles sales have been 154.619, down an acceptable 1.5%. Honda recovered the leadership lost last year while Yamaha jumped up 39% and BMW lead premium segment.

 

Economic Environment

Turkish economic landscape has improved somewhat in recent months as the economy returned to growth on an annual basis for the first time in a year in the third quarter. This came on the back of solid public consumption growth and a revival of private consumption, buttressed by a strong credit impulse amid laxer monetary policy. However, recovering domestic activity led to a surge in imports in the quarter, and the external sector consequently weighed on the economy. Turning to the final quarter of 2019, annual economic growth should have accelerated further, partly due to a supportive base effect. 

This year the economy should continue growing owing to a weak base effect and the impetus provided by looser monetary policy. However, as domestic demand gains traction, the external sector will likely weigh on the economy as imports outweigh exports. Moreover, risks remain tilted to the downside as geopolitical tensions and market volatility linger. 

 

Market Trend

According to data released by the Turkish Association of Motorcycles Manufacturers, the Turkish two-wheeler industry in the 2019 performed better than expected when considering the real collapse of the automotive industry .

Indeed during 2019, Turkish two-wheelers sales have been 154.619, down an acceptable 1.5%. However, the data confirm a progressive decline started sixth years ago when the market was over the annual 180.000 sales.

After having lost the leadership in the 2018, Honda is now back on top of the list, having sold 24.196 units (-1.5%) with 15.9% of market share.

In second place there is the local brand KUBA with 20.093 units (-32.0%) followed by Mondial with 20.007 units (-17.7%).  

Behind there is Yamaha reporting an astonishing performance with 13.728 sales, up 39.6%. The leader among Premium brands was again BMW with 1.119 sales.

 

Motorcycles Industry Heritage

This century started up with 53.000 sales in the 2000, well below the level of the record of 94.000 units touched in the 1997 and in the following years was in a sharp crisis with sales fallen down at a record-low of only 16.000 units in the 2002. Then the crisis was over and the market took a rushing path, with sales  near the record in the 2004 (92.000) and then above, with 2005 at 174.000 and in the 2006, in the sky, at the actual record of 390.000 units.

Too fast too soon, and in the 2007 and 2008 sales fell at 192.000 units (the current third best ever level), with a rapid fall at 134.000 in the 2010, a rapid recovery in the 2011, at the current second best record, 199.000.

Since then a progressive slow declining pathway is in place, with 2016 at the lower level in this decade (143.677) followed a recovery in the 2017 due to the reduction of compulsory traffic insurance tariff and ownership tax cut, ending the year at 157.755 units.

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