January 07, 2015 PRESS REVIEW Passenger Car and Light Commercial Vehicle Market showed a decrease of 10% in 2014. Passenger Car Market Decreased 11.6%, Light Commercial Vehicle Market Decreased 4.4%. Turkish passenger car and light commercial vehicle total market decreased 10.04% in 2014 compared to the last year, to 767,681. In the twelve-month period of 2013, a total market sales figure of 853,378 was reached. Passenger car sales went down 11.63% in 2014, compared the last year, to 587,331. In 2013, the sales reached 664,655. In the twelve-month period 2014, light commercial vehicle market decreased 4.44%, in comparison to the year before, to 180,350. Last year, the sales reached 188,723. Passenger Car and Light Commercial Vehicle Market showed an increase of 13% in December 2014. Passenger Car Market Increased 8.75%, Light Commercial Vehicle Market Increased 29.5%. In December 2014 passenger car and light commercial vehicle market reached 146,989. In comparison to the total number of 129,718 in December 2013, the sales went up in a ratio of 13.31%. In December 2014, passenger car sales went up by 8.75% in comparison to the same month of the year before and became 110,054. Light commercial vehicle market increased 29.51% in December 2014 compared to December 2013, to 36,935.
In the twelve-month period of 2014, a decrease of 10.71% in the sales of passenger cars below 1600cc and 30.89% in the sales of passenger cars with a 1600-2000cc engine volume was observed. As for the sales of the passenger cars over 2000cc, a decrease of 3.6% was observed. In the twelve-month period of 2014, 22 electric cars below 85kW engine power and 25 electric cars above 121 kw engine power were sold. When the average emission values of the passenger car market in 2014 are considered, the passenger cars between 100-120g/km took the largest piece of the pie with a ratio of 39.52% and with a number of 232,129. In the twelve-month period of 2014, diesel passenger car sales grabbed a share of 61.5%, while the automatic transmission passenger cars had a share of 45.78%. In the January - December period of 2014, 84% of the passenger car market segment consisted of the vehicles in the A, B and C segments whose tax ratios are low. When evaluated according to segments, Segment C with a share of 52.27% reached the highest sales volume (307,020 unit). When evaluated according to frame, most preferred body type was again Sedan (47.42%, a quantity of 278,534). Passenger car and light commercial vehicle market went down in a ratio of 24.46% in the first quarter of 2014, 25.12% in the second quarter and 8.78% in the third while going up 10.17% in the fourth quarter. In 2014; Increases in rates of exchange and interest, Increase in passenger car SCT rates, Restrictions imposed by BDDK (Banking Regulatory and Supervisory Agency) toward credit transactions, Deceleration in growth, Weak private sector consumption and investments, caused a reduction of 10.04% in the passenger car and light commercial vehicle market.
In 2015; Expectation on interest-rate increase by U.S. Federal Reserve Bank (FED) in parallel with economic recovery, Decision to continue with monetary expansion by European Central Bank (ECB) in order to support economic recovery, Geopolitical developments, CBT's determination to fight against inflation, Improvement in current account deficit, Structural reforms to be made and forthcoming elections, will be decisive. We foresee that the automotive industry's total market for the year 2015 to be between 775 and 825 thousand in quantity. Hayri ERCE, PhD. Executive Coordinator Automotive Distributors Association
In the twelve-month period of 2014, passenger car and light commercial vehicle total market presented a sales number of 767,681 in Turkey's automotive market. In comparison to the total number of 853,378 in the same period of 2013 in the passenger car and light commercial vehicle market, the sales went down in a ratio of 10.04%. In December 2014, passenger car and light commercial vehicle market presented a sales number of 146,989. In comparison to the total number of 129,718 in December 2013 in the passenger car and light commercial vehicle market, the sales went up in a ratio of 13.31%. Passenger car and light commercial vehicle market, in comparison to the average 10- year December sales, showed an increase of 44.61%. 40 30 20 10 0-10 -20-30 -40 Passenger Car and Light Commercial Vehicle Market Monthly and Quarterly Progress (%) 2013 1stQ : 12,41% %12,41 2013 2ndQ : 11,84% %12,41 2013 3rdQ :7,64% 2014 3rdQ : -8,78% 2014 1stQ :- 24,46% %12,41 %12,41 2014 2ndQ : -25,12% %12,41 2014 4thQ : 10,17% %12,41 2013 4thQ : 8,09% 1 2 3 4 5 6 7 8 9 10 11 12 2013/2012 (%) 20,23 16,90 6,00 16,88 14,97 4,26 14,91 11,86-2,39-3,21 10,59 12,41 2014/2013 (%) -8,03-27,50-30,82-27,55-28,66-18,80-16,33-7,45-2,11 14,75 1,66 13,31
In the twelve-month period of 2014, passenger car sales went down by 11.63% in comparison to the same period of the year before and became 587,331 in Turkey s automotive market. In the same period last year, the sales reached 664,655. In December 2014, passenger car sales went up by 8.75% in comparison to the same month of the year before and became 110,054. In December of the last year, the sales reached 101,199. The passenger car market, in comparison to the average 10-year December sales, showed an increase of 62.48%. Passenger Car Market Monthly and Quarterly Progress (%) 40 30 2013 2nd: 20.90% 2013 4thQ :20.17% 20 2013 3rdQ: 18.59% 10 2013 1stQ : 17.32% 2014 4thQ : 3.89% 0-10 2014 1stQ :- 21.92% 2014 2ndQ :-23.21% -20 2014 3rdQ :-12.01% -30-40 1 2 3 4 5 6 7 8 9 10 11 12 2013/2012 (%) 22,57 26,12 9,55 24,87 23,63 14,63 25,11 25,16 7,22 8,16 22,60 25,05 2014/2013 (%) -5,68-26,20-26,98-24,97-25,65-18,89-16,35-12,56-6,92 8,15-6,90 8,75
In January-December period of 2014, light commercial vehicle sales decreased 4.44% in comparison to the same period of the last year, to 180,350 in Turkey s automotive market. In the same period last year, the sales reached to 188,723. Light commercial vehicle market increased 29.51% in December 2014 compared to December of the last year, to 36,935. In December of the last year, the sales reached 28,519. The light commercial vehicle market, in comparison to the average 10-year December sales, showed an increase of 8.91%. 50 40 30 20 10 0-10 -20-30 -40-50 Light Commercial Vehicle Market Monthly and Quarterly Progress(%) 2013 1stQ :-0.12% 2013 2ndQ :-11.15% 2014 3rdQ :2.90% 2014 1stQ :- 32.08% 2014 2ndQ :-31.68% 2014 4thQ :34.51% 2013 3rdQ :-19,29% 2013 4thQ :-22.24% 1 2 3 4 5 6 7 8 9 10 11 12 2013/2012 (%) 14,41-5,29-3,55-4,21-6,46-21,82-10,63-20,58-25,81-33,15-21,78-17,27 2014/2013 (%) -14,31-31,66-42,50-36,44-38,48-18,48-16,24 12,18 14,84 42,89 37,82 29,51
When 2014 passenger car market is studied in terms of engine volume, the biggest slice of the pie was taken by passenger cars under 1600cc with a ratio of 95.18% and a number of 558,995. Passenger cars between 1600 to 2000cc followed them with a ratio of 3.84% and passenger cars above 2000cc with a ratio of 0.98%. When the twelve-month period of 2014 is compared to that of previous year, a decrease of 10.71% in the sales of passenger cars below 1600cc and 30.89% in the sales of passenger cars with a 1600-2000cc engine volume was observed. As for the sales of the passenger cars over 2000cc, a decrease of 3.60% was observed. At the end of twelve-month period of 2014, a total of 47 electric cars were sold with 22 electric cars below 85kW engine power and 25 electric cars above 121 kw engine power. ENGINE VOLUME ENGINE TYPE 2013'December(End) 2014'December(End) Qty Share Qty Share Change SCT VAT 1600cc B/D 626,047 94.19% 558,995 95.18% -10.71% 45% 18% 1601cc - 2000cc B/D 32,609 4.91% 22,536 3.84% -30.89% 90% 18% 2001cc B/D 5,968 0.90% 5,753 0.98% -3.60% 145% 18% 85 kw ELECTRIC 31 0.00% 22 0.00% -29.03% 3% 18% 86kW - 120kW ELECTRIC 0 0.00% 0 0.00% 7% 18% 121kW ELECTRIC 0 0.00% 25 0.00% 15% 18% Sum 664,655 100.00% 587,331 100.00% -11.63% TAX RATES When the January-December period of 2014 car market is studied in terms of average emission values, passenger cars between 100-120 g/km have the highest share again with 39.52% (232,129 unit) and following this, passenger cars between 120-140 g/km have a share of 31.45% (184,708 unit). CO2 AVERAGE EMISSION VALUES (gr/km) 2013'December(End) 2014'December(End) Qty Share Qty Share Change < 100 gr/km 56,570 8.51% 62,052 10.57% 9.69% 100 - < 120 gr/km 238,896 35.94% 232,129 39.52% -2.83% 120 - < 140 gr/km 215,936 32.49% 184,708 31.45% -14.46% 140 - < 160 gr/km 116,225 17.49% 81,103 13.81% -30.22% 160 gr/km 37,028 5.57% 27,339 4.65% -26.17% Sum 664,655 100.00% 587,331 100.00% -11.63%
Diesel passenger car sales in 2014 decreased 6.99% in comparison to the last year. Diesel share in passenger car sales in the end of 2014, when compared to the same period of 2013, have increased from 58.43% to 61.50% (361,209 unit). 2013'December(End) 2014'December(End) DIESEL Share in Share in the Change Qty Qty the Segment Segment A (Mini) 69 2.33% 26 0.59% -62.32% B (Entry) 126,973 55.31% 107,402 58.89% -15.41% C (Compact) 205,649 60.66% 201,215 65.54% -2.16% D (Medium) 40,817 57.29% 39,359 56.46% -3.57% E (Luxury) 12,178 64.23% 9,833 48.69% -19.26% F (Upper Luxury) 2,651 91.23% 3,374 93.20% 27.27% Sum 388,337 58.43% 361,209 61.50% -6.99% In 2014 January-December period, automatic transmission passenger car sales numbers, in comparison to the same period in 2013, increased 4.84%. In 2014, automatic transmission passenger car sale shares in 12 months, in comparison to last year, increased from 38.58% to 45.78% (a number of 268,851). 2013'December(End) 2014'December(End) AUTOMATIC Share in Change TRANSMISSION Share in the Qty Qty the Segment Segment A (Mini) 1,329 44.91% 3,058 69.12% 130.10% B (Entry) 49,278 21.47% 49,274 27.02% -0.01% C (Compact) 130,110 38.38% 139,476 45.43% 7.20% D (Medium) 56,269 78.98% 58,006 83.21% 3.09% E (Luxury) 16,670 87.92% 15,479 76.65% -7.14% F (Upper Luxury) 2,789 95.97% 3,558 98.29% 27.57% Sum 256,445 38.58% 268,851 45.78% 4.84% In 2014, 84% of the passenger car market segment again consisted of the passenger cars in the A, B and C segments whose tax ratios are low. When evaluated according to segments, Segment C with a share of 52.27% has the highest sales volume (307,020 unit) and Segment B follows it with a share of 31.05% (182,362 unit). In January-December period of 2014, when evaluated according to frame, most preferred body type was again Sedan (47.42%, a quantity of 278,534). Following Sedan passenger cars, Hatchback frame with a share of 33.78% and a sales volume of 198,422 and SUV with a share of 12.61% and total sales volume of 74,067.
OVERVIEW OF 2014/2015; PRESS RELEASE According to October 2014 estimations of IMF World Economic Outlook Report, 2014&2015 growth rate estimations for the World is 3.3% and 3.8%, respectively. The report suggests that 2014&2015 growth rates of the U.S., pacemaker of the world economy will be 2.2% and 3.1%, respectively. It is also estimated that Turkish automotive industry exports to Europe which is crucial for the Turkish economy will increase 0.8% in 2014 and 1.3% in 2015. LMC Automotive has published 2014&2015 World automotive market estimations as of 2014, 3rd quarter. According to the 3rd quarter results, 2014 World total autumotive market is expected to show an increase of 2.3% in comparison to the last year and reach a number of 89.5 M. In 2015, World autumotive market is expected to show an increase of 4.1% and reach a number of 93.2 M in comparison to the last year. LMC Automotive has published 2014&2015 World autumotive manufacture estimations as of 2014, 3rd quarter. According to the 3rd quarter results of LMC Automotive, 2014 World automotive manufacture is expected to show an increase of 3.3% in comparison to the last year and reach a number of 91.2 M. In 2015, World autumotive manufacture is expected to show an increase of 3.9% and reach a number of 94.8 M in comparison to the last year. According to the Medium Term Program published in October 2014, Turkey's growth rate is expected to be around 3.3% in 2014 and 4% in 2015. According to IMF World Economic Outlook Report for October, we see that 2014 and 2015 growth estimations for Turkey are 3%. In accordance with above mentioned indications, we foresee that the automotive industry's total market for the year 2015 to be between 775 and 825 thousand in quantity.