The production in the renting and leasing of motor vehicles sector in Turkey has shown a consistently positive growth rate over the past decade. By 2023, the sector stood at 25.85 billion New Turkish Liras, marking a year-on-year increase of 6.18%. Analysis of the trends reveals that between 2013 and 2023, the sector experienced an average annual growth rate (CAGR) of approximately 8.04% over the last five years. The most significant growth rates occurred between 2014 and 2018, with annual increases ranging from 20% to over 30%.

Overall, the industry has matured, leading to lower growth rates in recent years. From 2024 onwards, the forecast indicates a steady, albeit slower, growth with a 5-year CAGR of 3.93%, translating to an overall expected increase of 21.26% from 2024 to 2028.

Future trends to watch for:

Increasing adoption of electric vehicles (EVs) in leasing fleets due to environmental regulations and shifting consumer preferences.
Enhanced digital transformation influencing the operational models within the sector.
Potential market consolidation as larger players seek to diversify and capitalize on economies of scale.