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Turkey Offers Incentives for Carmakers to Expand Production

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Turkey will allow carmakers that add at least 100,000 units annual capacity in Turkey to import additional vehicles equaling 15 percent of that amount without tariffs, Economy Minister Zafer Caglayan said.

Producers making new investments in engine production will be able to import the equivalent of 30 percent of the new car capacity to Turkey duty-free, Caglayan also said in a speech in Istanbul today. He didn’t say how many engines would be required for that tax break. The new import tax cut for cars only applies to those in the low-end A, B and C segments, he said.