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Country Report

Luxury Cars in

Luxury Cars in Turkey

Feb 2019

US$990

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Executive Summary

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Category growth driven by SUVs

The success of SUVs in luxury cars over the review period was such that most luxury car makers rushed into this space to attract new consumers. Luxury SUVs provide a greater sense of safety, extra boot space and a high driving position, giving the driver a better view of the road.

New trends in luxury cars in Turkey

Consumers who are ready to pay for a luxury car often seek legendary models, famous for their appearance in films such as the James Bond movies and the personality of their drivers. Manufacturers often respond to this demand by relaunching vintage models in limited editions, such as the Ferrari Dino in 2015 or the Aston Martin DB4 GT in 2017.

Luxury car makers expand their operations in Turkey

Turkey has just 200 cars per 1,000 people, compared to between 500 and 600 in Western Europe, while a high car age could also act as a purchase trigger in a country where GDP grew by 7.4% in 2017, substantially higher than in Western Europe.

COMPETITIVE LANDSCAPE

Mercedes-Benz remains the leading player in luxury cars in Turkey

Mercedes-Benz does not use a distributor like Audi and BMW in Turkey, instead running its own operations. Mercedes-Benz also publishes a price list in Turkish lira, unlike its rivals.

New retail concepts

New retail concepts have been developed to broaden distribution and target a wider customer base, for example digital showrooms. Audi City Istanbul, where visitors can obtain all information related to Audi and can see virtual versions of all Audi models in their exact size, was opened at Istinyepark.

Second-hand luxury car market continues to be a threat

Turkish banks started to also offer finance for second-hand cars over the last 10 years, with this adversely affecting the luxury car segment. Additionally, in Turkey, the price of a 3-year-old luxury car is almost 35% lower than its original cost.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Cars industry in Turkey with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Luxury Cars industry in Turkey, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Cars in Turkey market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Luxury Cars in Turkey?
What are the major brands in Turkey?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our

Luxury Goods market research database.

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Luxury Cars in Turkey - Category analysis

HEADLINES

PROSPECTS

Category growth driven by SUVs

New trends in luxury cars in Turkey

Luxury car makers expand their operations in Turkey

COMPETITIVE LANDSCAPE

Mercedes-Benz remains the leading player in luxury cars in Turkey

New retail concepts

Second-hand luxury car market continues to be a threat

CATEGORY DATA

Table 1 Sales of Luxury Cars: Value 2013-2018
Table 2 Sales of Luxury Cars: % Value Growth 2013-2018
Table 3 NBO Company Shares of Luxury Cars: % Value 2013-2017
Table 4 LBN Brand Shares of Luxury Cars: % Value 2014-2017
Table 5 Forecast Sales of Luxury Cars: Value 2018-2023
Table 6 Forecast Sales of Luxury Cars: % Value Growth 2018-2023

Luxury Goods in Turkey - Industry Overview

EXECUTIVE SUMMARY

Growth continues despite unfavourable developments

Signs of changing preferences

New luxury brands continue to enter the Turkish market

Internet retailing a promising channel

Further growth expected over the forecast period

MARKET INDICATORS

Table 7 Number of High Net Worth Individuals (HNWI): 2013-2018

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2013-2018
Table 9 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 11 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 12 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 14 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

Megatrends

Country Report

Luxury Cars in Turkey

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Category growth driven by SUVs

New trends in luxury cars in Turkey

Luxury car makers expand their operations in Turkey

COMPETITIVE LANDSCAPE

Mercedes-Benz remains the leading player in luxury cars in Turkey

New retail concepts

Second-hand luxury car market continues to be a threat

Overview

Why buy this report?

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Overview

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Table of Contents

Luxury Cars in Turkey - Category analysis

HEADLINES

PROSPECTS

Category growth driven by SUVs

New trends in luxury cars in Turkey

Luxury car makers expand their operations in Turkey

COMPETITIVE LANDSCAPE

Mercedes-Benz remains the leading player in luxury cars in Turkey

New retail concepts

Second-hand luxury car market continues to be a threat

CATEGORY DATA

Luxury Goods in Turkey - Industry Overview

EXECUTIVE SUMMARY

Growth continues despite unfavourable developments

Signs of changing preferences

New luxury brands continue to enter the Turkish market

Internet retailing a promising channel

Further growth expected over the forecast period

MARKET INDICATORS

MARKET DATA

SOURCES

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