IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

Yes

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 01 Oct 2019 | Removal date: 31 Dec 2019

Localisation incentive

On 26 September 2019, three major Turkish state banks namely Ziraat Bank, Halkbank, and Vakifbank jointly announced a new loan program aimed at boosting the local automotive market. Under the new program, three state banks offer credit to customers with favorable interest rates in purchasing vehicles which are produced in Turkey. The loan will be up to 120,000 TRY (21,165 USD) per customer with a maturity of up to 36 months for non-commercial vehicles and 60 months for commercial vehicles.

Under the loan program, the following car manufacturers are considered eligible by the Banks:

For non-commercial vehicles: Fiat, Honda, Hyundai, Renault

For commercial vehicles: Fiat, Ford, Isuzu, Karsan, Temsa

Only the models which are produced in Turkey are eligible for the loan program.

The loan program will start on 1 October 2019 and expire on 31 December 2019.

On 30 September 2019, two car manufacturers namely Otokar and BMC are included in the program with their locally produced models.

On 2 October 2019, Toyota and Mercedes are also included in the loan program with their locally produced models. 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

491 Motor vehicles, trailers & semi-trailers; parts
8702 Motor vehicles for the transport of ten or more persons, including the driver.
870210 With compressionignition internal combustion piston engine (diesel or semidiesel)
8703 Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars.
870321 Of a cylinder capacity not exceeding 1,000 cc
870322 Of a cylinder capacity exceeding 1,000 cc but not exceeding 1,500 cc
870323 Of a cylinder capacity exceeding 1,500 cc but not exceeding 3,000 cc
870324 Of a cylinder capacity exceeding 3,000 cc
870331 Of a cylinder capacity not exceeding 1,500 cc
870332 Of a cylinder capacity exceeding 1,500 cc but not exceeding 2,500 cc
870333 Of a cylinder capacity exceeding 2,500 cc
870390 Other
8704 Motor vehicles for the transport of goods.
870421 g.v.w. not exceeding 5 tonnes
870431 g.v.w. not exceeding 5 tonnes
870490 Other

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