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Turkey Autos Report Q1 2011
Business Monitor International, Jan 2011, Pages: 68
The Turkey Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Turkey's automotive industry.
The Turkish auto industry has continued to develop in a dramatic fashion. Growth has already overtaken many forecasts for the year and BMI believes that Turkey's auto industry is quickly regaining its position as one of the global success stories in this market. Autos production in Turkey grew an impressive 29%year-on-year (y-o-y), to just under 917,700 units during the first 10 months of 2010, according to estimates from the country's Automotive Manufacturers' Association (OSD). With this performance, Turkey not only overshadows BMI's already-optimistic estimate for over 11% y-o-y output growth byend-2010, but is also likely to regain its position as the biggest carmaker in emerging Europe (outside of Russia). The Czech Republic overtook Turkey in terms of autos production in 2009, following the latter's26% y-o-y drop in output.
In view of these trends, BMI has revised up its 2011 production expectations to just under 1.1mn units, signaling a complete recovery from the over 26% y-o-y fall in production in 2009. When compared with the feeble 4.4% growth expected in Czech autos output, to just over a million by end-2010, Turkey seems to be making a clear breakthrough.
Turkish vehicle output surged 30.9% y-o-y to 108,624 units in October 2010, according to the country's Automotive Industrialists Association. In the first 10 months of the year, vehicle production rose 27.7%to 893,119 units. Production of commercial vehicles reported strong growth of 41% in the same period of the year. Turkish exports increased by 25.3% y-o-y to 630,943 units in the first 10 months. Further figures released show that new vehicle sales in Turkey also rose sharply by 165.06% y-o-y to 77,404 units in November 2010, compared with 29,202 units during the same period in 2009, according to the Automotive Manufacturers' Association (OSD). The increase came mainly from the low base effect due to low sales in 2009. Sales of passenger cars and commercial vehicles increased 181.54% and 139.41% y-o-y respectively in November 2010.
The Turkish Minister of Industry and Commerce, Nihat Ergun, has called for the creation of a domestic Turkish car brand. The nation is currently one of the largest producers of vehicles in Central and Eastern Europe, but does not have its own homegrown car brand. This is a significant problem if Turkey is to diversify its auto industry away from just being a centre of production. The country will need to develop a vehicle for domestically developed models to be produced. If any such domestic brand was established, it is likely that foreign technical assistance for development would still be required. The long-term hope, however, is that a Turkish marque could recreate some of the success of other newcomers, such as Cheryor Tata, to the global auto market.
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