Impacts Of 2001 And 2008 Economic Crises On Turkish Automotive Market

7216 words - 29 pages

ABSTRACTThe automotive industry is undoubtly an area that has significant effects concerning to the world economy as well as influencing every household world wide. Changes in the supply and demand of automobiles impact the current and future purchases of consumers. Consumers must determine the budget that they can allocate to certain necessities. Because most consumers have a limited budget, the budget spent on transportation it limited. Since numbers of industries have an influence on the economy, the automotive industry has potential impacts exceeding that of other industries.The aim of this study is providing a brief understanding of general overview of automotive industry and the importance of the industry in large. In this framework, this study initially will look at the conditions led to economics crises in 2001 and 2008 and the consequences of those crises, from interest and inflation rates to consumption. The following part of the study will evaluate the impacts of 2001 and 2008 crises over Turkish automotive industry. In this context, this study will look at changes in production and sales and employment levels in Turkish automotive industry by making comparison between pre-crisis and in-crisis periods.TABLE OF CONTENTSPages51. INTRODUCTION 62. AUTOMOTIVE INDUSTRY 62.1. Industry Overview 72.2. Brief History of Automobile Industry 72.3. The History and Development of the Turkish Automobile Sector 112.4. The Importance of the Automobile Industry 112.4.1. Contribution of Turkish Automobile Industry to Exports 112.4.2. Contribution to Turkish Transportation and Logistics 122.4.3. Contribution to Technology and the Attraction of Foreign Investment 122.4.4. Contribution to Labor Force 122.5. The Major Players in the Market 143. 2001 AND 2008 ECONOMIC CRISIS 143.1. Anaemic catching-up process until the 2001 economic crisis 193.2. The 2000/2001 crisis 203.3. The ongoing economic crisis of 2008 213.3.1 The mid-2006 episode 223.3.2. Significant negative impact in the real economy 234. 2001 CRISIS AND AUTOMOTIVE INDUSTRY 234.1. Impacts of 2001 Crisis on Turkish Automotive Industry 234.1.1. Production Dvelopment Turkish Automotive Industry 244.1.2. Imports of Turkish Automotive Sector (1993 -2003) 264.1.3. Exports of Turkish Automotive Industry (1993 -2004) 284.2. Impacts of 2008 Crisis on Turkish Automotive Industry 284.2.1. Market 294.2.2. Production 304.2.3. Foreign Trade 325. CONCLUSION 33REFERENCES LIST OF FIGURES9Figure 1: Manufacturing Plants of Turkish Automobile Firms 13Figure 2: Real GDP per capita (United States=100) 14Figure 3: Growth of real GDP per capita 15Figure 4: Real GDP Growth 16Figure 5: Inflation and the exchange rate 17Figure 6: Inflation and interest rate 24Figure 7: Imports of Turkish Automotive Industry (Milion Dollar) 24Figure 8: Exports of Turkish Automotive Industry (Million USD) 26Figure 9: Total market change(%) 28Figure 10: Total Production and Automobile Production 29Figure 11: Export/Total production (Including...

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