Turkmenistan. In 2018 the market boomed 223%

Turkmenistan Vehicles Market

Turkmenistan Vehicles Market in 2018 almost tripled its volume from the previous year. Indeed, the ended with registrations at 3.360, soaring to 223%.

Economic Environment

The economic growth of Turkmenistan is carried out based on the national and state programs for short and long-term periods. Today, Turkmenistan has the diversified, multifunctional economy presented by enterprises of power industry, oil and gas production, oil-processing, chemical and petrochemical field, mechanical engineering and metal-processing, objects for producing building materials, light and food industry.

At the end of 2018, dynamic economic growth was ensured in all sectors, the well-being of the people was steadily increasing. The growth rate of Turkmenistan’s GDP in the year of 2018 made up 6,2 %. At the same time, the size of wages has increased. All the wages, pensions, welfare payments and students’ stipends were financed timely and in full volume.

Market Trend

Ashgabat, the country’s capital, is famously filled with marble buildings — so many it made it into the Guinness Book of World Records in 2013 with 543 new buildings clad with more than 48 million square feet of white marble and the President Gurbanguly Berdimuhamedov,re-elected for a third term on February 2017, believes white is a lucky color.

What’s the point?

Three years ago, it was banned the import of black cars in the country, and now all black and dark-coloured vehicles are banned from the country’s capital Ashgabat, with the culprit cars being seized by police and their owners told they must pay up to the equivalent of one year salary to have them re-painted silver or white.

In addition, according to Daily Mail UK,  women have been banned from driving in the country because they have been accused of causing most car accidents, meaning Turkmenistan replaces Saudi Arabia as the only country in the World where women are not allowed to drive.

In 2017 the market reported an impressive performance, growing by 27% with 1.038 units sold.

In 2018, registrations almost tripled, booming at 223% with 3.360 sales.

Service Solutions

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