Turkey has become the fastest growing nation for luxurious automobile brands. While luxurious brands experienced seven percent growth globally in the first five months of the year, in Turkey the rate of growth has reached the 100 percentile level.
The luxurious automotive segment experienced nearly double the growth level of the total passenger car market in the first five months of the year. While the total passenger car market increased by 20.75 percent to reach 223,816, luxurious vehicle sales increased by 37.5 percent. During the months of January to May, 21,837 luxurious vehicles were sold. During the same time period the year prior, 15,870 luxurious vehicles were sold.
RECORD RISE IN FIVE MONTHS
The figures from the first five months of the year are sending out signs that luxurious automotives may break a new record at the end of the year. For the past four years now, the luxurious automotive market has seen consistent growth while by the end of this year speculation is that 55,000 vehicles will be sold in the market.
With a fast start in 2013, Turkey’s level of growth in the luxurious segment rivals countries such as China and Russia. Turkey’s luxurious auto segment has also marked a first by becoming the country where luxurious brands experienced the most growth in the first five months of this year. In May, BMW’s global sales rose by 7.8 percent, Mercedes by 7.3 percent and Audi by 6.4 percent. The rise in Turkey however, saw the triple digits which has only worked to increased these brand’s global growth. In May, Mercedes experienced 103 percent growth while BMW rose by 36 percent. Audi’s sales increased by 2.6 percent.
MARKET DOUBLES IN FOUR YEARS
In 2009, the luxurious auto market was at 27,000 cars, in 2010 40,000, in 2011 48,000 and in 2012, 50,000 vehicles were sold. The luxurious segment has doubled over the past four years. The increase in smaller engine luxurious models, which maintain a tax advantage, has contributed significantly to the overall growth in the market.
LEADER IN LUXURY BMW
BMW has continued to be the highest selling brand in the luxury vehicle market in the first five months of the year, with 6,645 autos sold.
NEW MODEL DOPING
Mercedes takes the second spot in the luxurious vehicle market, energized by the introduction of new models. The brand sold 6,465 vehicles between Jan. to May.
AUDI COMES IN THIRD
Luxury brand Audi came in third with 5,505 vehicles sold in the first five months of the year.