Automotive Sector 2017-2023: A Global Analysis and Türkiye

Abstract

The automotive industry plays a crucial role in the global economy. This study examines the main changes and challenges facing the automotive industry since 2017 and analyses their impact on both the global market and the Turkish automotive industry. Using the document analysis method, one of the qualitative analysis methods, the study evaluates the status of automotive companies in the Forbes Global 2000 World's Largest Companies list and analyzes the Automotive Industry Association's Automotive Industry Global Assessment Reports for 2017, 2018, 2019, 2020, 2021. In addition, the study compares Turkey's automotive production, ranking among global countries, and domestic market sales in the specified period with 2016 data. The study states that there is stagnation and decline in the automotive sector, as in all sectors, especially in the face of the measures and other restrictions taken worldwide with the COVID-19 outbreak. And also states that there are 10 automotive companies in the top 200 of the Forbes Global 2000 list for 2022, Toyota maintains its place as the first automotive company in the list, Volkswagen Group, Daimler, Ford Motor and BMW Group follows Toyota. In addition, Türkiye's is set to make a rapid entry into the electric car market with its domestic brand TOGG states. In 2022, Turkey ranked 19th among the world's largest economies, and despite its decline in the global rankings, it has risen to 13th among automobile producing countries, and the increase in production is reflected in domestic market sales according to 2022 sales data.