Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 335

Turkish Automotive Industry

Posted by fidest press agency su martedì, 11 ottobre 2011

Etox is a new Turkish sports car brand, based ...

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London. 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 (http://www.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.
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.
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 p.m. BST. Programme Manager, Mohamed Mubarak, together with Research Manager, Melih Nalcioglu, will introduce opportunities in the Turkish light and electric vehicle market.
Frost & Sullivan, 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. To join our Growth Partnership, please visit http://www.frost.com.

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