It was announced that the automotive industry had a foreign trade deficit. The main reason for this is that even domestic cars are included in the 80 percent Special Consumption Tax bracket. As domestic cars lost their appeal, interest in imported models increased.
The automotive industry in Turkey has gone through its most interesting period in the last few years. For a while, we couldn’t find a car. In this case, literally black market environment formed. The cars left in the hands of the trapper became investment instruments. Well, this situation is behind us now, but what happened in the past, today continue to have effects does.
Emre Özpeynirci, who compiled EBS Consultancy’s “Automotive Sector Foreign Trade” data, stated that Turkey’s had a foreign trade deficit told. The last time this happened was in 2015. The sector has been giving a surplus since 2015, based on the studies carried out. According to the analysis, Turkey’s automotive-related foreign trade deficit is 3 billion dollars exceeded. According to Özpeynirci, the number one reason for this is the tax regulations in Turkey.
When even the SCT rates on domestic production increased, we imported
The current Special Consumption Tax regulations in Turkey are actually dysfunctional has become. Namely, the lowest SCT bracket for a car is normally 45 percent. However, the increase in prices caused all cars to fall into the 80 percent SCT category. In this case, citizens instead of domestic production turned to imports. This is very normal because the locals no longer have any charm. All of this returned as a foreign trade deficit.
According to the figures shared by Emre Özpeynirci, exports for the first 7 months of the year increased by 22.99 percent. $6.3 billion It was recorded as. In the same period, imports increased by 149.05 percent and reached 9.3 billion dollars. According to Özpeynirci, when August data is added, will exceed 4 billion dollars.
German, Spanish and Chinese automobiles brought the industry to this point
The compiled data shows that the main reason for the current account deficit in the automotive industry is Germany, Spain And Chinese revealed that it is. So much so that we did not even export a single item to China. On the other hand, imports stood at 447 million dollars. Imports from Germany are 147.95 percent, and imports from Spain are 147.95 percent. 160 percent While it is increasing, our exports to these countries are not encouraging. In fact, there was a decrease in our exports to Germany…
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