Turkey Autos Report - Business Monitor International - Industry Reports

Turkey Autos Report

Turkey Autos Report - Business Monitor International - Industry Reports
Turkey Autos Report
Published Sep 24, 2016
38 pages — Published Sep 24, 2016
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Abstract:

Iran - Vehicle sales, units, y-o-y (RHS) Iran - Vehicle sales, units (LHS) ----e ----e ----f ----f ----f ----f ----f - ---,--- -,---,--- -,---,--- -,---,--- -,---,--- --- - -- -- -- e/f=BMI estimate/forecast. Source: BMI/Statistical Centre of Iran While sanctions were in place, Turkish vehicle producers were unable to tap into Iran s large and expanding vehicle market. One of the key reasons for this has been the high rates of foreign ownership of Turkey s domestic manufacturers. Many of Turkey s vehicle producers are either fully-controlled or, at least, partly- controlled and owned by European- and US-based companies, which were subject to strong restrictions on their business operations with Iran.This meant that Turkish vehicle exports to the country remained underdeveloped with less than - of Turkey s vehicle and vehicle parts exports in ---- being destined for the Iranian market despite the fact that the two countries share a border and a history of good trade links. However, with sanctions now removed Turkish truck and car makers can benefit from the high levels of pent-up demand for foreign brands that has built up in Iran over the last few years. ...However, with sanctions now removed Turkish truck and car makers can benefit from the high levels of pent-up demand for foreign brands that has built up in Iran over the last few years. In addition to the strong annual sales growth, we stress that the majority of new demand in Iran will be aimed at expanding

...Over ----, and through to ----, we maintain a bullish view on the country s autos exports outlook as the European market continues to build towards its former strength after a period of historically low volumes. We forecast vehicle sales in the EU region to expand a further -.- in ---- reaching --.--mn units and for sales expansions to average -.- between ---- and ---- (see chart below). ...We forecast vehicle sales in the EU region to expand a further -.- in ---- reaching --.--mn units and for sales expansions to average -.- between ---- and ---- (see chart below). Furthermore, our Country Risk team continues to forecast sustained depreciation in the lira-euro and lira-USD exchange rates due to structural macroeconomic factors which will also make Turkish exports cheaper in euro terms, giving Turkish vehicle manufacturers a competitive edge in EU markets. However, some gains are negated by the high reliance on imported parts (which are now more expensive in lira terms). ...However, some gains are negated by the high reliance on imported parts (which are now more expensive in lira terms). Thus, growth in exports will favour producers with a higher rate of local content.

...Sales of heavy trucks and buses have significantly underperformed compared with other segments. The introduction of Euro VI regulations caused more pre-emptive purchases of heavy duty vehicles in ---- than originally expected, leading to a severe drop in pent-up demand for ----. ...

  
Source:
Document ID
1749-0227
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Turkey Autos Report" Sep 24, 2016. Alacra Store. Dec 02, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Turkey-Autos-Report-2026-2663>
  
APA:
Business Monitor International - Industry Reports. (2016). Turkey Autos Report Sep 24, 2016. New York, NY: Alacra Store. Retrieved Dec 02, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Turkey-Autos-Report-2026-2663>
  
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