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Turkey Automotive Loan Market Share, Trends, Analysis, Opportunity, Size, Demand & Forecast

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The expansion of auto loans for electric and hybrid vehicles, rising car prices, and increasing private vehicle sales are the leading factors driving the Turkey automotive loan market during the projected period. According to TechSci Research report, “Turkey Automotive Loan Market– By Region, Competition Forecast & Opportunities, 2018-2028F,” the Turkey automotive loan market is anticipated to expand more quickly throughout the projected period. Due to the favorable benefits, it has on production and exports, the automotive industry has a substantial impact on the Turkish economy and the employment and tax revenues it generates through sales and after-sales dealers. A significant portion of the importance of the automotive industry is attributed to banks and other financial organizations that serve as intermediaries in the lending of automotive, which is driving the automotive loan market in Turkey during the forecast years.

The Important Factors of the Turkey Automotive Loan Market

Several financial institutions offer automotive loans, which aid in the purchase of a vehicle. Typically, the lender lends the money, and the borrower must pay it back in equal monthly installments (EMIs) over a predetermined period at a fixed interest rate. Based on vehicle type, there is a segment of two-wheeler loans that helps an individual to buy a motorcycle and scooter. Hatchbacks, sedans, SUVs, and MPVs are all types of passenger cars. A person obtains a loan to buy passenger cars. A vehicle for business or commercial purposes can be purchased with the help of a commercial car loan.

Light, medium, and heavy commercial vehicles are all classified as commercial vehicles. These vehicles are typically bought for business or industrial use, and the loans for commercial vehicles are used to pay for the purchase. The car loan is also typically offered by banks, NBFCs (non-banking financial services), OEM (original equipment manufacturers), and others (fintech businesses) over a certain length and interest rate.

According to the Hürriyet News 2022, with the help of good maturity and interest possibilities, which were started under the direction of public banks and supplied by the banking sector, the growth in vehicle loans reached USD588.62 million in 9 months of 2020.

It was reported that Honda, Hyundai, Fiat, Ford, Renault, and Toyota companies increased their prices despite the statements made in the joint statement from Ziraat Bank, Halkbank, and Vakfbank, and it was announced that these companies were excluded from the scope of the loan package.

Browse over XX market data Figures spread through XX pages and an in-depth TOC on the "Turkey Automotive Loan Market"


Turkey's auto loan market is segmented based on vehicle type, provider type, percentage of amount sanctioned, tenure, and region.

Depending on the type of vehicle, the market is segmented into two-wheelers, passenger cars, and commercial vehicles. Passenger automobiles have a substantial percentage during the projection period, followed by commercial vehicles.

The market is segmented into banks, NBFCs (non-banking financial services), OEM (original equipment manufacturers), and others (fintech companies) based on the type of provider, among which banks account for a considerable share. 

Furthermore, less than 25%, 25-50%, 51-75%, and more than 75% are segments divided based on a percentage of the amount sanctioned. Less than 3 years, 3-5 years, and more than 5 years are the segments based on tenure.

Key market players in the Turkey automotive loan market include:

  • Garanti Bankası A.Ş.
  • Kuveyt Türk Participation Bank
  • Ziraat Bankası A.Ş.
  • Türkiye Halk Bankası A.Ş.
  • Akbank T.A.Ş.
  • Albaraka Türk Katılım Bankası A.Ş.
  • QNB Finansbank A.Ş.
  • Yapı ve Kredi Bankası A.Ş.
  • TEB Finansman A.Ş. (TEB Cetelem)
  • Anadolubank A.Ş.


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“Due to the regular use of commercial vehicles by both businesses and private citizens, there is an increasing need for commercial vehicle loans. However, buying a car requires a major investment, and those with the lowest salaries must find the money for this expense from their budget. Throughout the predicted years is the potential benefits of taking out an auto loan to purchase a vehicle in particular situations is one factor boosting the Turkish automotive loan industry.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.


Turkey Automotive Loan Market, By Vehicle Type (Two-Wheeler, Passenger Car, Commercial Vehicle), By Provider Type ((Banks, NBFCs (Non-Banking Financial Services), OEM (Original Equipment Manufacturer), Others (Fintech Companies)), By Percentage of Amount Sanctioned (Less than 25%, 25-50%, 51-75%, More than 75%), By Tenure (Less than 3 Years, 3-5 Years, More than 5 Years), By Region, Competition Forecast & Opportunities, 2018-2028F, has evaluated the future growth potential of the automotive loan market in e Turkey and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Turkey automotive loan market.

Mr. Ken Mathews
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Tel: +1-646-360-1656
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Website: https://www.techsciresearch.com

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