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Automotive Suppliers Keen on Quality Production for Exports Find Opportunities in the Turkish Automotive Industry Finds Frost & Sullivan - Upcoming web conference reveals: domestic annual light vehicle sales volumes to reach 1 million units before 2015; annual domestic production to touch 1.5 million units by 2020 - Automotive.Frost.com
Automotive Suppliers Keen on Quality Production for Exports Find Opportunities in the Turkish Automotive Industry Finds Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2011/10/11 - Upcoming web conference reveals: domestic annual light vehicle sales volumes to reach 1 million units before 2015; annual domestic production to touch 1.5 million units by 2020 - Automotive.Frost.com.

   
 
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A gross domestic product (GDP) growth of over 7 per cent, rising incomes and an unsaturated domestic demand with just 110 cars per 1,000 people have considerably amplified the demand for light vehicles in Turkey. The production of the Chery, as well as the increase in the production capacity of the Hyundai i20 and Ford Transit models are expected to be notable production developments in the next five years.

New analysis from Frost & Sullivan (automotive.frost.com), CEO 360 Degree Perspective of the Automotive Industry in Turkey, finds that there will be about 30 megacities with a population above 10 million by 2025. Nearly 55 per cent of the world’s population will be living in the top 20 cities identified by Frost & Sullivan. Istanbul with over 13 million people is one of the megacities posing mobility challenges and offering opportunities for new mobility models. With a population of over 4 million Ankara and Izmir are defined as super cities and another 9 emerging cities will further nourish the need for new mobility models. Frost & Sullivan also identified three mega corridors; Marmara, Aegeon and Cukurova which will witness heavy truck movement and demand new dealership and service networks.

The Turkish production industry is entirely focused on exports to Europe and the United States, with Europe alone accounting for 65 per cent of the exports. However, Turkey will have to find other export markets in the Middle East and Northern Africa to reduce its dependence on the volatile Western European automotive market.

“Well-defined government support for setting up production, a young population (64 per cent of the population is between 15 and 59 years) and R&D units will attract substantial foreign investments to the automotive segment,” says Frost & Sullivan Programme Manager Mohamed Mubarak M M. “Fiscal reforms, along with an escalating population, low costs and a culture of high-quality production, make Turkey an attractive investment destination for global automotive OEMs and suppliers.”

Frost & Sullivan has identified 7 customer segments based on vehicle pricing and length. Vehicles in the price range of 25,000 Turkish Lira (TL) to 50,000 TL, and with lengths of between 3,700mm to 4,500 mm, cater to three different customer segments. These are low-medium family, lower-medium fleet/family and upper-medium family.

Another analysis of the vehicles’ pricing and variants has revealed that most of the high-selling models cater to the (low/upper) medium customer/fleet segment. The high-selling compact cars and sedans targeted at the medium family consumer segment have more than 20 variants. Meanwhile, models catering to the medium-fleet customer segment are priced between 24,000 TL to 40,000 TL, but they do not have numerous variants. Instead, they offer several options within a limited number of variants.

One of the biggest challenges for automotive manufacturers is the heavy tax on passenger cars. The special consumption tax (SCT), which is levied on luxury goods, is also applied to passenger cars. This tax increases the price of cars with an engine capacity higher than 1600 cc by more than 60 per cent. Additional value-added tax (VAT), applied at 18 per cent above the SCT, raises the price by more than 80 per cent for cars with an engine capacity greater than 1600 cc.

As fuel prices in the country are already among the highest in the world, most consumers find the cost of owning a vehicle prohibitive. The SCT is a major source of revenue for the government, as it covers the import revenue losses after the Customs Union Agreement in 2009. However, these taxes impede automotive sales, which would otherwise foster the growth of the Turkish economy.

“Cars are expensive in Turkey, primarily because 70-75 per cent of the vehicles sold are imported,” notes Mubarak. “With the economic growth pushing domestic demand, Frost & Sullivan believes that Turkey can produce vehicles locally to cater to the domestic market.”

Frost & Sullivan will hold a complimentary web conference, entitled Growth Opportunities in Turkish Passenger and Electric Vehicle Market, taking place on Wednesday, 2nd November 2011, at 3 pm. BST. Programme Manager, Mohamed Mubarak, together with Research Manager, Melih Nalcioglu, will introduce opportunities in the Turkish light and electric vehicle market.

The web conference – which is open to everyone interested in this market - will investigate the impact of urbanisation and other mega trends on personal mobility and the future of the automotive industry in Turkey. It will demonstrate existing opportunities in the yet to emerge Turkish electric vehicle market and outline a customer segmentation for each vehicle launch. Further focus points will be the dealership structure in Turkey, the fitment of standard versus optional features as well as the overall EV infrastructure and eco-system.

The web conference benefits component manufacturers, distributors and vehicle manufacturers by discussing emerging trends and providing forward projections for the Turkish light vehicle and electric vehicle market.

For more information on the study or to participate in the complimentary web conference, please email Katja Feick at katja.feick[.]frost.com with your full contact details. Upon receipt of the above information, a registration link will be emailed to you. You may also register to receive a recorded version of the briefing at anytime by submitting the aforementioned contact details.

CEO 360 Degree Perspective of The Automotive Industry in Turkey is part of the Visionary Innovation Research program, which also includes research in the following markets: Impact of Urbanization and Development of Megacities on Mobility and Vehicle Technology Planning, Strategic Analysis of the European Microcars Market, Sustainable and Innovative Personal Transport Solutions - Strategic Analysis of Carsharing Market in Europe, Russian Automotive Market Outlook in 2008 - 2010: Impact of Economic Slowdown on the Future of Auto Sales and Production, How the Economic Crisis is Affecting the Passenger and Light Commercial Vehicle Market in Mexico, Implementation Roadmap of CO2 Tax Banding in European Countries and Impact Analysis on Powertrain and Green Technology Adoption, and Identification of the Top 25 Fastest Growing Automotive Supplier based on Analysis of Geographic, Technology and Financial Portfolio. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

CEO 360 Degree Perspective of the Automotive Industry in Turkey - M69B
360-Degree Analysis of the Electric Vehicle Market in Turkey - M795

 
 
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Automotive Suppliers Keen on Quality Production for Exports Find Opportunities in the Turkish Automotive Industry Finds Frost & Sullivan

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Frost & Sullivan |
Publisher Contact: Katja Feick 
+49 (0) 69 7703343 katja.feick[.]frost.com
 
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