Frost & Sullivan Report Predicts Growth in Turkish Operational Leasing Market
Frost & Sullivan has released a new analysis of the fleet leasing marketplace in Turkey, finding that growing awareness of the advantages of operational leasing is attracting new customers. The report, titled Strategic Analysis of the Turkish Fleet Leasing Market, predicts that new vehicle sales to operational leasing companies will grow from 69,000 in 2012 to 123,000 in 2018.
“Benefits such as lower costs and superior operational fleet management have encouraged the adoption of fleet leasing services in Turkey,” said Frost & Sullivan Automotive and Transportation Research Analyst Hikmet Cakmak. “High vehicle taxes in the country too, push bulk fleet buyers to choose operational leasing over outright purchases.”
According to Frost & Sullivan’s report, three types of companies, those in the pharmaceutical, health care, and consumer goods markets, contribute the highest to market revenues. The company also predicts that the operational leasing car parc will reach 300,000 units by 2019.
"While new business models and enhanced service quality will spur operational leasing, the lack of relevant legislations hampers market development," said Cakmak. "Regulations that restrict the leasing of light commercial vehicles add to the challenge. Operational leasing enterprises must educate and try to convince the government to enforce controlling mechanisms for operational leasing."