TSKB - Gndz Fndkolu PhD [email protected] Baar Yldrm...

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Turkish Automotive Industry Sep 2009 Gündüz F ı nd ı ı o ğ lu, PhD [email protected] TSKB RESEARCH Production The recessionary conditions, which penetrated the market 13 month ago, continue within context of manufacturing in automotive sector although the pace of contraction has eased. According OSD figures, the total automotive production -excluding tractors- reads as 615,995 units, which highlights 36% annual decline in the first nine month of 2009. Automotive production exhibited a m-o-m hike of 74% in September 2009 because of the the higher demand before the expiration of tax-incentive and also the base effect (factory maintenance in the previous month). Domestic Retail Sales Retail sales have boomed in September before the expiration of the PCT incentive as end of the month. Domestic retail sales mounted by 125% to 83,385 units in September compared to August, which is the highest monthly figure since December 2007. Jazzy September-only figures led passenger car and LCV sales to bid up by 7% y-o-y totally in the first nine months of 2009 whereas where HCV sales, the less incentive-affected segment, continued to exhibit a contraction, which narrowed by 46% y-o-y. Domestic Factory Sales In parallel with the retail sales figures above, total domestic wholesales swelled by 108% m-o-m, again mainly due to the dying of the tax incentive at the end of September. On monthly basis, main contributors to the hike were passenger car and LCV, which felt the positive impact of the incentive most. On the other hand, surprisingly high demand in the corresponding month was not enough to sustain a growth for nine months period. Exports Total automotive exports waned by 44% in the first nine months of 2009, where 435,303 units were exported. Exports rose by 76% in September compared to a month ago just because of the low exports in August due to factory maintenance. However dimuniton continues on y- o-m basis. Motor vehicle exports retreated by 11% compared to the same month of last year. Nov 4, 2009 Ba ş ar Y ı ld ı r ı m [email protected] 2006 2007 2008 9M08 9M09 % Sep.08 Sep.09 % Production 987,580 1,099,413 1,147,110 969,245 615,995 -36% 97,653 86,269 -12% Retail Sales 669,604 634,206 526,544 418,826 433,138 3% 46,828 83,385 78% Domestic Factory Sales 288,145 276,408 229,781 188,574 185,802 -1% 21,190 34,214 61% Exports 696,688 818,349 910,270 772,101 435,303 -44% 80,241 59,589 -26% CUR 82% 89% 78% 88% 54% 80% 68% Automotive Production (Units) 987,580 615,995 1,099,413 1,147,110 969,245 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 2006 2007 2008 9M08 9M09 Automotive Sales (Units) 669,604 634,206 526,544 418,826 433,138 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 2006 2007 2008 9M08 9M09 3% Motor Vehicle Exports (Units) 696,688 435,303 772,101 910,270 818,349 0 200,000 400,000 600,000 800,000 1,000,000 2006 2007 2008 9M08 9M09 -44% -36%
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Exhibit: 2 Automotive Production by manufacturer (9M09) TSKB RESEARCH Automotive Monthly Page 2 Source: Automotive Manufacturers Association (OSD), TSKB Research Source: Automotive Manufacturers Association (OSD), TSKB Research Exhibit: 1 Automotive Production in Turkey Production The recessionary conditions, which penetrated the market 13 month ago, continue within context of manufacturing in automotive sector although the pace of contraction has eased. According Automotive Manufacturer’s Association (OSD), the total automotive production - excluding tractors- reads as 615,995 units, which highlights 36% annual decline in the first nine month of 2009. In the relevant period, contraction in commercial vehicles segment continued to exceed the
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TSKB - Gndz Fndkolu PhD [email protected] Baar Yldrm...

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