Automotive Exports December 2022

1

Monthly automotive aftermarket magazine 

GROUP CHAIRMAN 

H. FERRUH ISIK 

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İstmag Magazin Gazetecilik 

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Reaping the fruits of export-drive 

As noted earlier in this column, the exports by Turkish automotive sector have reached 

remarkable figures in the last decade. The automotive industry has been active since 

the early seventies. Thus, Turkey has become a major production platform for global 

automotive manufacturers. 

As known, the auto parts industry has recorded a dynamic growth in line with the 

automotive industry. From simple components in the mid-1960s, the sector has ascended 

to produce high-tech components. 

The industry with its large capacity, wide variety of production and high standards, 

supports automotive industry production and the vehicles in Turkey and also has ample 

potential for additional exports. 

The leading foreign automotive parts manufacturers have established their presence in the 

country through joint-ventures, which dominate production and exports. There has also 

been substantial locally-owned investment by spare parts manufacturers. 

To sum up: 

- Quality of production improved dramatically, especially through the establishment of 

quality management systems. 

- The industry has adapted to EU regulations and has established an efficient and 

exemplary cooperation with public institutions in the transformation of the EU regulations 

to national regulations and their implementation. 

- Exports have risen sharply, and Turkish production has been integrated into 

manufacturers’ global planning. 

Key factors which attract foreign capital inflows to Turkey mainly include the market size, 

consumer composition, friendly investment legislation and liberal banking system together 

with other attractiveness arising from highly skilled human resources in production and 

management, the unsaturated domestic market with high potential, easy access to 

neighboring (regional) emerging markets, and low labor cost. 

The industry exhibits its full potential in major specialized fairs both at home and abroad. 

By participating in a series of fairs, our publications remain at the service of those 

businesses people seeking to increase their share in the increasingly competitive foreign 

markets. 

This month, we participate in Moroccan Automotive Industry Show, Casablanca. 

We are fully convinced that the event would pave the way for a series of new business 

opportunities. We wish all participants success and lucrative business. 

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automotiveexport 

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Germany ‘on course for 

recession’ as industrial 

orders drop 

German industrial orders have dropped by more than 

expected in September as foreign demand slumped, putting 

Europe’s largest economy on course for recession, data 

shows. 

New orders fell by 4.0 percent on the month on a seasonally 

and calendar-adjusted basis, the Federal Statistics Office said. 

Germany staved off the threat of recession in the third 

quarter with unexpected growth, but the economy remained 

in choppy waters as high inflation driven by a painful energy 

standoff with Russia surged, data showed. 

The orders data underlined the headwinds Germany is facing 

as the sluggish global economy, materials shortages and the 

energy crisis hamper production. 

Headed towards recession 

“The German economy is on course for recession - that 

much can be deduced from the disastrous new orders,” said 

Thomas Gitzel, chief economist VP Bank. 

While domestic orders increased by 0.5 percent, foreign 

orders plunged b y 7.0 percent. Within the euro zone, orders 

were down 8.0 percent while orders from outside the euro 

zone dropped 6.3 percent. 

“The high level of new orders that had set in after the 

coronavirus pandemic as a result of catch-up effects appears 

to have come to an end,” the economy ministry said. 

Decreases in the automotive and mechanical engineering 

sectors in particular, down 9.0 percent and 8.1 percent 

respectively, dragged down the overall index, according to the 

ministry. 

10

Famed Kapadokya most-loved color of 

Türkiye’s national car Togg 

Türkiye’s first national, fully electric car 

Togg, which recently saw the first massproduced 

vehicle come off from the 

production line, revealed its most-preferred 

color through a survey. 

The survey was conducted with the 

participation of 500,000 people from Togg’s 

social media account. 

According to the results, the color 

“Kapadokya” (Cappadocia in Turkish) 

which is among the total of six colors that 

“Togg took inspiration from the beauties of 

Türkiye” was the most popular color of the 

C-SUVs. 

The colors include “Anadolu” (Anatolia), 

“Gemlik,” “Oltu,” “Kula,” “Kapadokya” and 

“Pamukkale.” 

Kapadokya is the color representing the 

colors of the fairy chimneys in Türkiye’s 

famed touristic region of Cappadocia in the 

central province of Nevşehir. 

Anatolia is a red “reflecting the friendliness 

and passion of Anatolian lands.” 

Gemlik is a turquoise blue color which 

represents the blue waters under the 

shade of olive trees in Gemlik located on 

the coast of the Marmara sea. 

Kula is gray, taking its inspiration from 

the “magnificence of Kula, which carries 

millions of years of history of Earth to the 

present with its natural structure, rocks and 

valleys,” in Türkiye’s Aegean region. 

The black color of Oltu represents the 

eye-catching blackness, shiny texture and 

solid structure of the Oltu stone, one of 

the rare and fascinating gemstones found 

in the eastern Erzurum province. The color 

Pamukkale, meanwhile, is a while color, 

the dazzling whiteness of Pamukkale’s 

travertines in western Türkiye’s Denizli. 

In addition to the SUV, Togg will be 

manufacturing another four models – a 

sedan, C-hatchback, B-SUV and B-MPV – 

through 2030. 

Mass production of the SUV will be 

followed by the sedan. The vehicle is being 

produced by a consortium of five Turkish 

companies called the Automobile Initiative 

Group of Türkiye, or Togg in short, in 

cooperation with the Union of Chambers 

and Commodity Exchanges of Türkiye 

(TOBB). 

The brand aims to produce 1 million 

vehicles across the five segments by 2030. 

December 2022 14

Turkish auto sales jump nearly 15% in October 

Sales of passenger cars and light 

commercial vehicles in Türkiye rose 14.9% 

year-over-year in October, according to 

data provided by an industry group. 

A total of 65,222 vehicles were sold across 

the country, the Automotive Distributors 

Association (ODD) said in a statement. 

Passenger cars accounted for nearly 73% or 

47,440 of the sales, an increase of 17.1% 

during the same period. 

As many as 17,782 light commercial 

vehicles were also sold, up 9.5% from 

a year earlier. The association said the 

automotive market fell 4.6% compared to 

the average 10-year October sales. 

In the January-October period, Türkiye’s 

automotive market narrowed by 4.7% on 

an annual basis to 585,752 vehicles. 

Passenger car sales fell 6% to 446,664 units 

in the first 10 months of 2022 compared to 

the same period from a year ago. 


Turkish automotive exports remain robust 

despite global headwinds 

Turkish automotive exports jumped to 

$2.65 billion (TL 49.21 billion) in October, 

industry data showed , in an increase 

that comes despite global headwinds 

dominated by talks of recession and 

surging inflation. 

Exports increased by 1.8% year-over-over, 

the Uludağ Automotive Industry Exporters’ 

Association (OIB) said in a statement. At 

12.4%, the industry held the largest share 

of Türkiye’s overall exports. 

Foreign sales were up about 5% from a 

year ago in the January-October period to 

some $25 billion, the data showed. 

“Our automotive exports continue to 

increase” despite the growing global 

recession risks, contraction in the 

eurozone, the industry’s largest market, 

and surging inflation, OIB Chairman Baran 

Çelik said. 

The supply industry, tractors, buses, 

minibusses and midibuses all saw a doubledigit 

increase in sales in October, Çelik said. 

The supply industry topped exports with $1 

billion worth of sales, a 13% year-over-year 

increase. 

Çelik said exports to top markets such 

as Germany, Belgium and Russia also 

registered double-digit increases in the 

month. 

Sales to Germany were up 15% year-overyear 

in October to $404 million, while 

those to the United Kingdom rose 9% to 

$285 million, the data showed. Exports to 

France were down 12% to $252 million. 

Sales to Belgium, Russia, Romania and 

Portugal increased by 32%, 23%, 21% and 

79%, respectively. 


Togg invites citizens to test 

SUV model at new Istanbul center 

Türkiye’s first indigenous electric 

automobile brand Togg is opening its first 

experience center in Istanbul, enabling 

citizens to get to know its C-SUV model 

from a closer perspective. 

A total of 20 centers are expected to be 

opened across the country. 

The first Togg experience center opened 

its door in the metropolis’ Zorlu Center, 

welcoming citizens to examine the C-SUV 

model closely, particularly the parts they 

are curious about. The next experience 

centers will soon start operating in 

southern Adana, the capital Ankara, Gemlik 

and western Izmir province. 

The opening comes after the inauguration 

of Togg’s factory in the Gemlik district 

of Türkiye’s automotive capital Bursa, 

during which the first mass-produced SUV 

model left the production line. Following 

the announcement of the vehicle’s mass 

production, high interest in the first 

domestic electric car was seen both in the 

country and abroad. 

It has received thousands of orders 

coming from the public sector in Türkiye, 

including banks that were placed on the 

priority list for receiving their models 

earlier than others. Togg also received 

its first international order recently, from 

Azerbaijani President Ilham Aliyev who 

stated that he wants to purchase two cars 

for himself. Many citizens have also already 

listed their existing vehicles for sale on the 

internet in order to buy a Togg, which will 

hit the road in March 2023. Around 17,000 

to 18,000 vehicles are planned to be put 

up for sale in the first stage, throughout 

2023, after some five months of security 

procedures the car is set to pass through. 

The vehicle is being produced by a 

consortium of five Turkish companies called 

the Automobile Initiative Group of Türkiye, 

or Togg, in cooperation with the Union of 

Chambers and Commodity Exchanges of 

Türkiye (TOBB). 

Togg, which will have “300+” and “500+” 

kilometer range options with its inborn 

electric modular platform, will be 

constantly connected to the center and 

will be able to receive updates remotely 

via 4G/5G connection. The batteries of the 

vehicles which will be integrated into the 

model, and are compatible with the Euro 

NCAP 5-star level rating system are set to 

get 80% full in less than 30 minutes with 

fast charging option. 


Türkiye 

seeks energy 

production 

abroad, says 

Minister 

Dönmez 

Türkiye wants to engage in production 

activity in counties from which it buys 

natural gas or oil, Energy Minister Fatih 

Dönmez has said, adding that studies are 

underway to identify the location for a 

third nuclear plant. 

“This is our new energy strategy. We 

consider establishing partnerships with 

those countries to acquire a share in 

the production of natural gas or oil. We 

have been receiving offers, particularly 

from Africa, since we have increased 

our operations capabilities in the seas,” 

Dönmez said. 

“Those countries look very favorably upon 

this idea and we have invited them to our 

country. We can act together with friendly 

nations,” he said, unveiling the new energy 

strategy in a press meeting. 

“We traveled to Indonesia and Malaysia. 

In Malaysia, we discussed the prospects of 

natural gas exploration and cooperation.” 

Türkiye has played an important role over 

the past years in strengthening energy 

supply security for neighboring countries, 

Dönmez added. 

“While improving our own infrastructure, 

we have secured new resources. We are 

buying natural gas from Russia, Iran and 

Azerbaijan.” 

Türkiye has also increased its LNG capacity 

bbyputting two FRSUs (Floating Storage 

Regasification Unit) in use in addition to 

the already existing two LNG land terminals 

and a third FRSU will be launched in Saros, 

he noted.Dönmez stressed that Türkiye 

may further diversify its suppliers of natural 

gas. 

“The Gulf countries may deliver gas here. 

Israeli gas can arrive here, and we may 

buy gas from Nigeria. We are in talks with 

Libya.” 

The minister added that all natural gas 

storage facilities were full as of the end of 

September and ready for the winter. “They 

will be used if problems with deliveries via 

pipelines may occur.” 

He also said that work is ongoing to 

determine the location where the 

country’s third nuclear power plant 

will be established. “The likely location 

is the Thrace region,” Dönmez added. 

Construction of the Akkuyu Nuclear Power 

Plant continues at “full speed,” he said, 

recalling that a second nuclear plant is 

planned to be built in the province of 

Sinop. 


Russia increases gas exports 

to China, reducing market 

dependence on Europe 

In an attempt to wean the country from its 

dependence on the European gas market, 

Russia has increased gas exports to China, 

using the Siberia pipeline. 

The pipeline, also known as the Eastern 

Route, delivers energy “via the mega gas 

pipeline regularly” and it exceeds daily 

“contractual obligations”. 

The pipeline became functional in 2019, 

spanning 3,000 kilometres, and has the 

capacity of carrying 61 billion cubic metres 

of gas per year, with 38 billion cubic metres 

slated for export. 

The two countries are working toward 

developing another gas route through 

Mongolia called Soyuz Vostok. 

Expanding its energy market in China has 

been one of its top priorities for Russia. As 

Beijing is in the process of phasing down 

coal usage, the Kremlin seems eager to 

“exploit the opportunity” in light of their 

growing alliance. 

Gazprom, the Russian energy giant, said 

that it supplied 42.6 percent less gas to 

countries outside the Commonwealth of 

Independent States (CIS), a segment that 

includes most of the European Union. 

The Gazprom report noted that total 

exports had decreased from 158.8 billion 

cubic metres (bcm) of gas in the first ten 

months of 2021 to 91.2 bcm in the first ten 

months of 2022. 

European countries whose gas purchases 

from Gazprom remain capped have been 

stockpiling gas thanks to unusually mild 

autumn weather –– Bloomberg noted that 

in the past, Russia had regularly supplied 

about a third of Europe’s gas consumption. 

Even while EU gas storage sites remain 

at a 94 percent capacity, higher than the 

past five years’ seasonal average of 89 

percent, Bloomberg pointed out the words 

of Gazprom Chief Executive Officer Alexey 

Miller, who said if the weather were to 

get abnormally cold, Europe’s gas reserves 

wouldn’t keep citizens warm throughout 

the winter. 

Bloomberg quoted Miller as adding 

“Europe could lack some 800 million 

cubic metres of gas a day without Russian 

supplies during high demand.” 

According to Bloomberg, Gazprom 

continues to supply gas flows via Ukraine 

at capped levels and “those to Hungary 

and Serbia are going through one leg of the 

TurkStream pipeline” that runs from Russia 

to Türkiye 


More tourists to rush to Türkiye this 

winter as European prices soar 

Turkish travel companies are expecting a 

rush of European tourists in the months 

ahead amid higher demand following the 

coronavirus pandemic and as energy prices 

rocket. 

“This winter we expect more tourists 

than in previous years,” Cem Polatoğlu, 

spokesperson for the travel operators’ 

association Tur Operatörleri Platformu, told 

Deutsche Presse-Agentur (dpa). 

“During the pandemic, people could not go 

on holiday for a long time. Now that travel 

restrictions have been lifted, many tourists 

will feel as though they have ‘broken free 

from chains,’” he said. 

Additionally, the high costs of energy in 

Europe are also leading to an increase in 

reservations during the winter season, 

particularly for accommodation that costs 

less, he said. 

Europe faces an acute energy crunch 

heading into winter after Russia cut gas 

supplies in response to Western sanctions 

imposed over its invasion of Ukraine. 

“It is positive for the tourism sector that 

European tourists – especially pensioners 

– prefer long holidays in Türkiye during 

the winter months due to the increase in 

natural gas prices,” said Ali Onaran, chair of 

tour operator Prontotour. 

He said his data showed that demand 

was particularly high “from countries like 

Germany, England and the Netherlands.” 

Onaran said it was encouraging that more 

people were booking their holidays during 

the winter period despite global inflation. 

“There are developments such as rising fuel 

costs, energy expenses, food crises, which 

affect ticket and hotel prices and therefore 

people’s overall travel budget,” he said. 

Despite those factors, bookings were in line 

with tour operators’ expectations. 

A further incentive for people to head to 

Türkiye on their holidays may be the weak 

Turkish lira, according to Polatoğlu. 

For tourists, he said that booking a package 

holiday at a five-star hotel in Türkiye 

currently costs less than spending the time 

in Europe. “And with much more comfort 

than at home,” Polatoğlu added. 

Rebound in Türkiye’s critical tourism 

industry this year has been driven by 

a major leap in demand from Europe, 

spearheaded by Germany and the United 

Kingdom, as well as Russia. 

The number of holidaymakers more 

than doubled in the first eight months 

of the year. Around 29.3 million tourists 

arrived in Türkiye from January through 

August, marking a 108.5% climb from a 

year ago, on pace to roughly match the 

pre-pandemic levels of 2019, according to 

Culture and Tourism Ministry data. 

The first eight-month figure stood at 14.1 

million in 2021, 7.2 million in 2020 and 31 

million in 2019. 

The arrivals have been mainly backed by 

Russian visitors, who increasingly opted for 

Türkiye due to flight restrictions applied 

by Western countries after Russia invaded 

Ukraine, as well as tourists from Europe. 

However, the number of German and 

British visitors rose strongly this year. 

At 3.85 million, tourists from Germany 

topped the list among nations and made up 

13% of all visitors in the first eight months, 

with arrivals jumping 105.73% from a year 

ago. Russians followed with just over 3 

million, a 22.8% year-over-year increase, 

and Britons ranked third with 2.36 million, 

a whopping 2,120% surge from the same 

period in 2021, according to the data. 

Tourism revenues are vital to Türkiye’s 

economy as the government’s new 

economic program focuses on flipping 

the chronic current account deficits to a 

surplus, prioritizing exports, production 

and investments, and aiming to lower the 

increase in consumer prices. 

The government raised its year-end targets 

in July to 47 million tourists and $37 billion 

in revenues, up from its earlier targets 

of 45 million arrivals and $35 billion in 

income. The number of foreign visitors 

soared 94.1% to 24.71 million last year 

when COVID-19 measures were eased 

compared to 2020. Tourism revenues 

doubled to almost $25 billion but remained 

well below the level recorded in 2019. 


10-month 

Turkish furniture, 

paper exports 

outperform 2021 

figures 

Türkiye’s total exports of furniture, paper 

and forestry industry products have 

reached $6.92 billion (TL 128.75 billion) 

in the January-October period, with an 

increase of 24% compared to the same 

period of the previous year, data showed. 

While the increase in overall exports across 

the country was 15% in 10 months, there 

was a 24% increase in the furniture sector. 

With this rise, the sector almost reached 

the exports made throughout 2021 which 

was $6.99 billion, the data by the Istanbul 

Furniture, Paper and Forest Products 

Exporters’ Association (ORSİAD) showed. 

The share of the furniture industry, 

meanwhile, in this figure amounted to 

$3.93 billion with an increase of 13.9%. 

Erkan Özkan, head of the ORSİAD, said 

that although there were difficulties in 

supplying raw material all over the world, 

adding, however, that “our exporting 

companies were affected by this at a 

minimum level with the bilateral relations 

they have established.” 

He said they aim to reach $5 billion in 

furniture exports by the end of this year by 

maintaining the current success. 

Iraq took the lion’s share with $432.1 

million among the countries to which the 

furniture industry exported the most, 

followed by Germany with $333 million and 

Israel with $207.8 million. 

Meanwhile, Türkiye’s furniture exports to 

Qatar rose by 97% making it the country 

with the highest increase in exports this 

year. 

The most exported products of the sector 

in the said period were bedsteads and 

cradles for children, wooden furniture for 

dining and living rooms, metal furniture 

and compact furniture that can be turned 

into a bed. 


Automotive exports top 

$2.6 billion in October 

Türkiye’s automotive exports increased 

by 1.8 percent in October from a year ago 

to $2.65 billion, the Uludağ Automotive 

Industry Exporters’ Association (OİB) has 

said. 

The industry’s share in the country’s overall 

export revenues was 12.4 percent. 

“Despite inflation, looming risks from the 

global recession and the contraction in 

the eurozone, our exports continued to 

grow,” said Baran Çelik, board chair of OİB, 

noting double-digit increases in sales to the 

German, Russian and Belgian markets. 

The supply industry’s exports rose by 13 

percent in October from the same month 

of 2021 to reach $1 billion but passenger 

car exports dropped 20 percent year-onyear 

to $748 million, according to data 

from the OİB. 

Exports of towing vehicles exhibited an 

annual increase of 95 percent to stand at 

$214 million. 

Germany was the largest market for 

local automotive companies. Exports to 

Germany grew 15 percent from a year ago 

to $404 million. The U.K. came second at 

$285 million, rising 9 percent on an annual 

basis. Exports to France increased by 12 

percent compared with October 2011 to 

$252 million. 

Data from the OİB also showed that 

exports to other key markets, namely 

Belgium, Russia, Romania and Portugal 

grew by 32 percent, 23 percent, 21 percent 

and 79 percent, respectively. 

From January to October, the automotive 

industry’s exports reached $25 billion, 

exhibiting an annual increase of 5 percent. 

Türkiye may become important global 

player 

Meanwhile, Tuğrul Arıkan, general manager 

of carmaker Anadolu Isuzu, said that no 

country in the global supply chain has as 

strong infrastructure in the automotive 

industry as Türkiye has. Türkiye may 

become an important global player in 

this field, replacing other companies as a 

supplier, he added. 

“There will be much better developments 

for the Turkish automotive sector going 

forward in 2023 and 2024. We need to 

catch up with the ongoing technological 

transformation in the supply and main 

automotive ndustries and we need 

to encourage the use of domestically 

manufactured products,” Arıkan said. 

As far as Anadolu Isuzu’s operations are 

concerned, Arıkan noted that last year the 

company introduced its first 8-meter-long 

electric bus to the market. “We are working 

to launch the 12-meter and 18-meter long 

buses in 2023 and thereafter. We are also 

working on an electric minibus,” he said. 

Anadolu Isuzu is also looking into hydrogen 

technology, Arıkan added. 

“Our main focus is electric [cars] but we 

have started studies on hydrogen. We have 

identified the companies which we are 

going to work with. Hopefully, we will be 

able to introduce our hydrogen vehicle, 

which will be more likely an inner-city bus, 

at the end of 2024 or in early 2025,” he 

said. 


Turkish Airlines teams up with exporters 

Under the deal, the flag carrier will 

offer discounts between 5 to 30 percent 

for cargo weighing more than 1 ton to 

be delivered to 40 destinations in 31 

countries. 

Turkish Airlines will deliver regular goods as 

well as perishable products such as fruits, 

vegetables, fish and eggs. 

Turkish Cargo was the fastest growing 

air cargo carrier in the world in 2021 

and 2022 and increased its share in the 

market to 5 percent, said Ahmet Bolat, the 

chairman of Turkish Airlines’ board and 

executive committee, noting that with its 

performance Turkish Cargo was ranked 

fourth among the top air cargo companies 

in the world. 

Bolat recalled that the carrier previously 

signed two protocols with the TİM during 

the pandemic to deliver exporters’ cargos 

to different destinations. 

The latest agreement inked with the TİM 

foresees an export volume of $2.1 billion, 

he added. 

“Türkiye’s average export range is presently 

3,065 kilometers, but we want to increase 

this to the world average of 4,744 

kilometers,” said Mustafa Gültepe, the 

president of the TİM. 

This year, exports by air have reached $10.3 

billion and 158,000 tons of goods were 

delivered by air cargo, he added. 

Turkish Airlines reported earlier this month 

that its cargo revenues soared 140 percent 

in January-September this year from the 

same period of 2019 to $2.92 billion. 


Türkiye’s historical record in the 

Global Innovation Index 

In the Global Innovation Index announced 

by the World Intellectual Property 

Organization, the Switzerland-based 

organization of the United Nations, and 

in which 132 countries compete, Türkiye 

rose four steps in 2022 to the 37th place. 

Rising 14 places in the last two years, 

Türkiye managed to enter the top 40 in the 

index for the first time. The 2022 Global 

Innovation Index was announced by the 

World Intellectual Property Organization 

(WIPO), the Swiss-based agency of the 

United Nations, with the main theme 

“What is the Future of Innovation-Driven 

Growth?”. In the index, which evaluates 

132 countries, Türkiye continued its upward 

trend and reached the best position in its 

history with 37th place. Türkiye, which has 

improved by 14 steps in the last two years, 

also maintained its 4th place among the 

upper-middle income group countries. 

Among the upper-middle income group 

countries, Türkiye performed above 

the group averages in six of the 7 main 

components. Türkiye’s best performing 

component was “Innovative Outcomes”. 

In this component, Türkiye ranked 15th 

with an increase of 20 steps compared to 

last year, ranking first among the North 

Africa/West Asia group countries. In the 

“Versatility of Markets” component, it rose 

12 places to 37th. This year, Türkiye, which 

outperformed its inputs in innovation 

outputs, managed to take place in the 

top 10 in 6 indicators. Türkiye ranked first 

among 132 countries in the “industrial 

designs by origin” indicator. 

The report also highlighted that Istanbul 

and Ankara are home to two leading 

science and technology clusters. Istanbul 

moved up four spots to 46th among the 

best science and technology clusters, 

overtaking Brussels, Barcelona, and Zurich. 

Evaluating the Global Innovation Index 

2022 Report, Industry and Technology 

Minister Mustafa Varank said, “Türkiye is 

at its highest level in its history. We have 

moved up 14 places in the last two years, 

ranking 37th out of 132 countries. The R&D 

and innovation ecosystem that we have 

built from scratch in 20 years will continue 

to write new success stories.” 

Stating that they have implemented 

policies and mechanisms that support 

innovation with the vision of the National 

Technology Move for Türkiye, and that 

they have deepened our R&D, innovation 

and entrepreneurship ecosystem day by 

day, Minister of Industry and Technology 

Mustafa Varank emphasized that the index 

is an effective policy tool in evaluating and 

improving the innovation performance of 

countries. Varank said in his statement: 

“I think the index has 3 main benefits. 

Firstly, it allows to analyze innovation 

performance from different angles on 

an annual basis and with comprehensive 

indicators. Secondly, it allows to discover 

potential areas of intervention by seeing 


the strengths and weaknesses of the 

ecosystem. Finally, it lays the groundwork 

for the development of evidence-based 

structural reforms to address these areas of 

intervention. In this direction, we have first 

established the Türkiye Global Innovation 

Index Task Force. Then, we determined 

the responsible institutions for the missing 

or outdated data in the index, and we 

started the cooperation process with the 

international organizations that provide 

data to the index. In order to monitor the 

developments in the indicators, we have 

established the Global Innovation Index 

Coordination and Monitoring Platform. As a 

result of the policies we have implemented, 

support mechanisms and initiatives we 

have initiated, our country has achieved 

this historic success.” 

Evaluating the Global Innovation Index 

2022 Report, Minister of Trade Dr. Mehmet 

Muş made the following assessment: 

“Today, innovation is consolidating its 

place among the main determinants of 

economic growth and competitiveness 

in the international arena day by day. 

From the invention of agriculture and the 

discovery of the wheel to the present day, 

when we have smartphones in our hands 

that have millions of times more powerful 

operating capacity than the computers 

in the control room of Apollo 11, which 

carried astronauts to the moon in 1969, 

mankind has always been in elbow contact 

with innovation. With the beginning of 

the 21st century, the innovation that 

emerged in many areas such as self-driving 

tools, artificial intelligence applications 

and blockchain technologies, big data 

applications, which we came across 

in science fiction novels or films a few 

decades ago, has started to rapidly shape 

and transform the future of countries and 

humanity. In innovation, speed is not our 

enemy, on the contrary, it is our closest 

friend today, where innovative ideas and 

practices are faster than ever before. For 

this reason, Türkiye’s reaching the place 

it deserves in the world in the innovation 

race is perhaps one of the guarantees of 

taking firm steps forward to the future as 

an existential issue. Moreover, I believe 

that it has become impossible to predict 

the fate of countries from now on free 

from the efforts and outputs of innovation 

and technological development. 

The effective innovation requires a strong 

innovation ecosystem that emerges 

with the harmonious cooperation and 

interaction of many stakeholders and 

elements such as public and private 

sector institutions and organizations, 

universities, investors, companies, 

supportive political and legal 

infrastructure, resource allocation. 

Here, in addition to what the public 

should do, all our companies, especially 

our exporter companies, Innovative a 

necessity to make a technology-oriented 

future planning with a perspective, 

innovation I think raising awareness is a 

vital issue. As a matter of fact, the fact 

that we have started to reap the fruits of 

our R&D studies in the defense industry 

has proved to all of us how important 

this field is. We, as the Ministry, always 

work with our companies’ technology 

and innovation we see assisting and 

consulting with their focused efforts as a 

necessity beyond satisfaction. 

When we look at the patent application 

data of the World Intellectual Property 

Rights Organization, we see that there 

is a positive trend in Türkiye’s patent 

applications and that approximately 10 

thousand patent applications have been 

filed annually in recent years. I believe 

that technology and innovation with 

the further increase of focused business 

culture and awareness, our country will 

rise to much higher ranks in the world 

in both our R&D expenditures and 

international patent applications and 

acceptances.” 

TİM Chairman Mustafa Gültepe, who 

participated in the introductory meeting 

of the Global Innovation Index 2022 

with a video message, said that they 

lead exporters to adapt to the digital age 

with innovation. Emphasizing Türkiye’s 

success in innovation, TİM Chairman 

Gültepe continued: 

“Under the leadership of Mr. President, 

with the support of our Ministries and 

the contributions of our institutions 

in the task force, we rose 10 places 

to 41st in the index in 2021. Last 

year, we also broke the record in the 

history of the Republic by reaching 

225 billion dollars in exports. With 

TİM’s efforts towards the innovation 

and entrepreneurship ecosystem and 

the increasing competitiveness of our 

companies, Türkiye continued its rise this 

year. In 2022, we broke the record of 15 

years in which the index was published 

and reached the highest position in our 

history with the 37th place. Innovationoriented 

growth will increase the 

competitiveness of our exporters and 

enable them to find a stronger place in 

global trade. 

Within the scope of the Investment 

Environment Improvement Coordination 

Board (YOIKK) Action Plan, the “Global 

Innovation Index Action Plan” studies 

were launched in 2020. At the meeting 

held under the chairmanship of Vice 

President Fuat Oktay on June 30, 2020, it 

was decided to establish a task force to 

accelerate the work to increase Türkiye’s 

position in the Global Innovation Index. 

Global Innovation Index Türkiye Action 

Plan and Strategy (2021-2023) was 

prepared. The strategy document, which 

was prepared with the coordination of 

the Ministry of Industry and Technology, 

the TİM Secretariat and the contributions 

of 20 different public institutions and 

organizations, will be presented to WIPO 

Director Daren Tang this year. 

December 

2022 

42

China’s chip 

maker to raise 

billions amid US 

export curbs 

Chinese chip manufacturer Hua Hong 

Semiconductor has received regulatory 

approval for an 18 billion yuan ($2.5 billion) 

IPO in Shanghai, according to a Hong Kong 

stock exchange filing. 

The planned initial public offering (IPO) 

comes as China’s chip companies gear up 

for steeper competition with the United 

States due to geopolitical tensions. 

US President Joe Biden introduced 

unprecedented export curbs aimed at 

stopping Beijing from acquiring advanced 

semiconductor technology. 

New rules bar American citizens, residents 

and green-card holders from working with 

China’s chip makers. Hua Hong says it 

intends to use the money to invest in a new 

fabrication plant – or fab – in the eastern 

city of Wuxi, with construction set to 

begin in 2023 and an eventual production 

capacity of 83,000 wafers per month. 

The company currently has four fabs in 

total – three 8-inch fabs in Shanghai, 

and one 12-inch fab in Wuxi currently 

expanding to 95,000 wafers per month. 

The proceeds from the IPO will also go 

to upgrading the latter fab, according to 

its prospectus. Hua Hong’s Shanghai IPO 

will follow that of China’s Semiconductor 

Manufacturing International Corp (SMIC), 

China largest chip manufacturer. 

Washington has barred US-based 

equipment makers from selling tools to 

Chinese foundries for production of logic 

chips produced at 14-nanometers and 

below. Hua Hong specialises in mature 

technology, and generates most of its 

revenue making chips using 55-nanometer 

process technology. 

The company has a global market share 

of 3.2 percent of the foundry business, 

according to research firm TrendForce. 


Türkiye foresees 5% economic growth for 2022, 2023 

The leading indicators of the economy for 

the second half of 2022 point to moderate 

growth and Türkiye’s gross domestic 

product to grow 5% in 2022, amid a global 

slowdown, Treasury and Finance Minister 

Nureddin Nebati said. 

Speaking to Parliament’s Planning and 

Budget Committee, Nebati said the 

economic growth, expected to maintain its 

balanced outlook in 2023, is targeted to be 

5% again next year. 

“In a period when challenging global 

conditions are experienced and the global 

conjuncture is changing rapidly, the 

‘Türkiye Economy Model’ aims to ensure 

macroeconomic and financial stability and 

price stability simultaneously, to encourage 

high value-added production, to turn the 

change in supply chains into an opportunity 

and to permanently solve the current 

account deficit problem,” Nebati reiterated. 

Stating that a significant improvement was 

achieved in the non-energy current account 

balance, significant gains were achieved in 

investment, employment, production and 

exports, Nebati said, “In this period when 

the risk of recession has increased for 

many developed and developing countries, 

the Turkish economy continues to grow 

strongly thanks to our model, and the 

composition of the growth also displays a 

balanced outlook.” 

“Türkiye is the fastest growing country in 

the G-20 with a GDP growth of 11.4% in 

2021 and recorded the highest growth rate 

in the last 50 years,” he said. 

Nebati noted that some 6.6 points of this 

growth come from domestic demand and 

4.8 points from net foreign demand and 

the net foreign demand to growth is the 

highest figure reached after 2001. 

“Despite the uncertainty caused by the 

war between Russia and Ukraine and the 

weakening global economy, our gross 

domestic product grew by 7.5% in real 

terms in the first half of 2022,” he said, 

noting: “With a growth rate of 7.6% as of 

the second quarter, Turkey was among 

the fastest growing countries in the OECD. 

In the first half of the year, our economy 

maintained its balanced outlook in line 

with our sustainable and healthy growth 

target.” 

Goldman Sachs and Moody’s have also 

raised recently their forecast for Türkiye’s 

2022 economic growth. Goldman Sachs 

said it revised upward its GDP growth 

forecast for Türkiye for this year to 5.5% 

from 3.5% while lifting its 2022 current 

account deficit forecast to $45 billion from 

$36 billion. Moody’s also said in a report 

in September that it raised its 2022 growth 

estimate to 4.5%, up from 3.5%. 

Nebati further commented that total 

employment in the country rose above 

the pre-pandemic period and reached 

historically high levels. 

Emphasizing that exports continue to 

break historical records, Nebati stated that 

with the steps taken within the scope of 

the Turkish Economy Model, exporters 

succeeded in turning the disruptions in the 

global supply chain into opportunities and 

made exports the locomotive of growth. 

“Our exports broke a record in every month 

of 2022 and reached the highest level in 

the history of the republic, exceeding the 

annualized $253 billion in October.” 

Nebati stated that total imports increased 

with energy imports, which remained high 

due to rising global energy prices. 

Pointing out that tourism has grown 

at a rate above the world average and 

outperformed its pre-pandemic levels, 

Nebati noted that they expect the course of 

tourism to continue for the rest of the year 

and a performance well above the record 

revenue in 2019. 

Nebati said, “While the current account 

balance gives a deficit due to energy 

imports, the current account balance 

excluding energy continues to have a 

surplus.” 

Nebati stated that the country aims to 

permanently improve the current account 

balance in the medium and long term with 

the policies implemented. 

Apart from the investments made in the 

renewables sector, the country aims to 

reduce foreign dependency on energy 

and to further reduce the pressure on 

the current account balance and external 

financing needs by commissioning the 

natural gas discovered in the Black Sea by 

2023, he added. 

Speaking on the fight against inflation, 

Nebati stated that they gave up TL 276.8 

billion ($14.89 billion) of tax revenue this 

year as part of this. Drawing attention 

to the tax cuts aimed at increasing the 

purchasing power and welfare of the 

citizens, Nebati said that they also support 

the most basic expenditures of the citizens. 

Reminding that they provide an 80% 

subsidy for natural gas used in households 

and 50% subsidies for electricity, Nebati 

said, “We provide electricity consumption 

support up to 150 kilowatt-hours to 2.1 

million households. Our target is to increase 

this support to 4 million households.” 


Winter eurozone recession looms as inflation hangs on 

The eurozone economy will slide into 

recession over the winter and will 

grow less than expected next year, the 

European Union’s executive commission 

said.The warning comes as peak inflation 

hangs on for longer than expected 

and high fuel and heating costs erode 

consumer purchasing power. 

High energy prices, the rising cost of 

living, higher interest rates and slowing 

global trade “are expected to tip the EU, 

the euro area, and most member states 

into recession in the last quarter of the 

year,” the forecast highlighted. 

The growth forecast for all of 2023 was 

lowered to 0.3% from the 1.4% expected 

in the previous forecast from July. 

“The EU economy is at a turning 

point,” said Paolo Gentiloni, European 

commissioner for the economy. 

“After a surprisingly strong first half of the 

year, the EU economy lost momentum in 

the third quarter and recent survey data 

point to a contraction for the winter,” he 

told reporters in Brussels. “The outlook 

for next year has weakened significantly.” 

The worst performer next year is likely to 

be Germany, Europe’s largest economy 

and one of the most dependent on 

Russian natural gas before the war in 

Ukraine. Germany was expected to see 

the output shrink by 0.6% over the next 

year. 

Gas and electricity prices have soared as 

Russia has dialed back supplies to Europe 

to a mere trickle of what they were before 

the invasion of Ukraine. European officials 

say the cutbacks are energy warfare by 

Russia to punish EU member countries 

for their support for Ukraine, while 

state-owned supplier Gazprom has cited 

technical reasons and a refusal by some 

customers to pay for gas in rubles. 

Inflation will peak later than expected, 

near the end of the year, and will lift the 

average rate to 8.5% for 2022 and to 

6.1% for 2023 in the eurozone. That is an 

upward revision of nearly 1 percentage 

point for 2022 and over 2 points for 2023. 

Two consecutive quarters of falling output 

is one common definition of recession, 

although the economists on the eurozone 

business cycle dating committee use a 

broader set of data including employment 

figures. 

“We are approaching the end of a year 

in which Russia has cast the dark shadow 

of war across our continent once again,” 

Gentiloni said. 

But apart from the expected technical 

recession, the eurozone’s unemployment 

rate, aggregated deficit, and debt or 

the current account balance will not 

deteriorate much, if at all, the forecasts 

showed. The commission indicated that 

the job market was likely to hold up 

relatively well despite shrinking output 

over the winter, forecasting an increase 

in the unemployment rate from 6.8% this 

year to 7.2% next and a decrease to 7% in 

2024. 

“The EU economy has shown great 

resilience to the shockwaves this has 

caused. Yet soaring energy prices and 

rampant inflation are now taking their 

toll and we face a very challenging period 

both socially and economically,” Gentiloni 

added. 


Europe could face gas 

shortage next year: IEA 

Europe must act immediately to prevent 

a shortage of natural gas next year as 

Russia slashes deliveries in the wake of 

the Ukraine war, the International Energy 

Agency warned. 

The IEA said the shortfall would occur if 

Russia stops pipelines deliveries completely 

and China steps up its imports of liquefied 

natural gas, which Europe has relied upon 

to replace Russian supplies. 

The region could lack 30 billion cubic 

metres that it needs “to fuel its economy 

and sufficiently refill storage sites during 

the summer of 2023, jeopardising its 

preparations for the winter of 2023- 

24,” the Paris-based agency said in a 

report. “We believe Europe needs to take 

immediate action to avoid risks of natural 

gas shortage next year,” EA Executive 

Director Fatih Birol told reporters. 

“We’re ringing alarm bells for the European 

governments and for the European 

Commission for next year,” he said. 

Russia has drastically cut supplies to Europe 

in suspected retaliation against Western 

sanctions over its 

invasion of Ukraine, 

but the region 

was able to fill 

storage sites for this 

upcoming winter. 

The IEA said Moscow delivered 60 billion 

cubic metres of gas to Europe this year but 

that it was “highly unlikely” that Russia 

would provide the same amount in 2023 

and could cease deliveries entirely. 

And while Chinese LNG imports were 

lower in the first 10 months of this year, 

the world’s second biggest economy could 

grab 85 percent of the expected increase in 

global LNG supplies if its purchases recover 

next year. 

European Union governments have urged 

business and households to conserve 

energy this winter in efforts to lower 

demand and scrambled to find alternative 

suppliers. 

Norway has overtaken Russia as Europe’s 

main natural gas supplier. The region has 

also shipping LNG from other countries at 

a rate that has caused bottlenecks at ports. 

Gas prices, meanwhile, have fallen sharply. 

But Birol said Europe’s gas storage sites 

may only be 65 percent full in 2023, 

compared to 95 percent this year. 

“With the recent mild weather and 

lower gas prices, there is a danger 

of complacency creeping into the 

conversation around Europe’s gas supplies, 

but we are by no means out of the woods 

yet,” Birol said in a separate statement. 

Birol warned that Europe will face “an even 

sterner challenge” next winter. 

“This is why governments need to be 

taking immediate action to speed up 

improvements in energy efficiency and 

accelerate the deployment of renewables 

and heat pumps -- and other steps to 

structurally reduce gas demand,” he said. 


Türkiye eyes wider share in 

global services exports’ 

Türkiye wants to expand its share in global 

services exports with newly-developed 

incentives, Deputy Trade Minister Özgür 

Volkan Ağar said at the Services Export 

Summit, held under the scope of the 

Türkiye Export Campaign, launched by the 

Sabah daily. 

Noting that Türkiye only had a 1% share 

in the global services sector in 2021, with 

$61 billion worth of services exported, 

Ağar said the country’s new support and 

incentive package announced by the 

government in 2022 will boost these 

numbers. 

Meanwhile, associate professor Mustafa 

Aydın, the deputy president of the services 

export association, noted that the sector, 

which includes 10 sub-categories, including 

education, health and port services, makes 

great contributions to the Turkish economy 

and the current account deficit. 

“It is crucial to produce paths for new 

initiatives, new fields and markets in the 

services export sector,” he told the panel. 


Moroccan Automotive Industry Show 

International Automobile Spare Part Fair 

organized by Global Fairs & Events within 

the Office des Changes of Casablanca 

attracts global interest. 

During the last decade, the automotive 

industry has been constantly rising to 

sustainable levels of growth in Morocco. 

Its outstanding performance allowed 

the country to become the number 1 

Manufacturer in Africa, and generated 

more than 72 billion MAD in export, 

making the automotive industry the 

top exporting sector in the country. 

Additionally, it is expected to grow even 

more in the upcoming 5 years and is 

expected to register a CAGR of 5.6% by 

2025. 

As an international industrial trade show 

dedicated to the spare parts sector and 

automotive industry, MATS strives to 

assemble the best and widest range 

on offer from product and equipment 

manufacturers and distributors. MATS 

fulfils its role both as a major industry 

event and as a decision-making tool 

to choose the right solutions for car 

repairs, servicing and equipment or for 

sourcing new suppliers for importers and 

distributors. You will be able to meet your 

suppliers in international manufacturers 

of auto parts and components seminars 

dedicated to localization plans and hold 

negotiations with domestic and foreign 

suppliers 

Major products to be exhibited are: 

Parts and Components • Engine and 

mechanical systems • Gearbox, exhaust, 

axle, steering brakes and suspension 

• Electrical and electronic systems 

• Tires, Wheels and batteries. Accessories 

and spare parts • Interior lining 

• Car audio and video systems 

• Navigation and telecommunications 

systems 

• Air conditioning systems • Vehicle safety 

and security systems Repair & maintenance 

• Equipment and tools • Body repair 

• Protection against corrosion • Disposal 

and recycling 

• Lubricants, oils and auxiliary materials. 

Car wash, service station and car care • 

Washing facilities and accessories 

• Cleaning and maintenance products 

• Charging station and equipment 


Türkiye says on course to achieve 

$250B exports despite challenges 

Trade Minister Mehmet Muş said Türkiye 

remained on course to achieve its year-end 

exports target, despite global uncertainties 

spearheaded by deteriorating demand in 

Europe. Demand in the country’s largest 

market is expected to weaken even further 

in the coming period, constituting a serious 

risk for Türkiye’s trade. The gloomy outlook 

was affirmed by data that showed demand 

in Türkiye’s key export markets continued 

to weaken in October. 

“As of now, we think we will achieve 

this (2022) goal. There is no question of 

any deviation from this goal,” Muş told 

the sixth edition of the Türkiye Export 

Mobilization Summit. 

The event was organized by Türkiye’s 

leading media group and Daily Sabah’s 

parent company, Turkuvaz Media, in 

Istanbul. Türkiye’s exports remained 

buoyant and rose 15.4% from January 

through October this year to $209.5 billion, 

according to official data, marking an 

all-time 10-month high. Türkiye has set a 

$250 billion export target for this year, after 

reaching a record $225 billion in 2021. 

Regarding 2023, Muş said they would 

“reflect all our energy on the field” to 

ensure exports stay on the upward path. 

Muş said there has been a slowdown 

in the growth trend of exports, citing 

weakening demand in the European 

Union, where almost half of the Türkiye’s 

shipments go. 

“A slowdown there (in Europe), whether 

we want it or not, a drop in demand there 

affects our exports,” he said. 

Shipments to the EU jumped 13.5% in the 

first ten months, with Türkiye enjoying a 

$9.7 billion surplus in trade with the bloc. 

Muş stressed Türkiye’s efforts to diversify 

markets and cited the government’s 

strategy to boost sales to remote 

countries. 

“The share we have in the world exports is 

1%, but the share we hold in the countries 

we identify as distant countries is 0.25%. 

Therefore, we have a goal to raise it to the 

same level,” he added. 

“We want to increase our share here to 

the average level of 1%, which is the share 

we receive from the world. This means 

an increase in exports to us with today’s 

figures of an additional $80 billion.” 

This is a difficult process, Muş said, citing 

challenges regarding logistics, planning 

and distribution channels. But he noted 

the expanded trips, fairs and organizations 

in the targeted markets. 

Muş expressed that the image of Türkiye 

and Turkish products in remote countries 

is “very positive,” stressing that they 

would focus very intensively on them in 

the coming period and that these studies 

may take up to four months. 

He stated that the EU would retain its 

weight in this period but said markets of 

similar importance may emerge in the 

period ahead. 

Muş said the uncertainty was the main 

factor triggering the slowdown in demand 

for exports, warning that 2023 would be 

an even more challenging year for the 

world. 

“Costs are financed in some way, the 

size of financial costs or the size of 

investment costs are somehow endured, 

but the negativity of expectations about 

the future, the expectation of what will 

happen, stops everything,” the minister 

said. 

“In other words, another development 

can happen in a country when you never 

expect it. Therefore, this expectation 

inevitably reduces investment decisions 

and demand incredibly.” 

Muş cited downward revisions by 

international organizations for the global 

economy, including the EU. 

“They are revising downward their growth 

expectations for trade for 2023. Therefore, 

the year 2023 will be more difficult for the 

world than 2022,” he said. 


Turkish Airlines receives sustainability award 

Turkish Airlines has been awarded the 

“Airline Sustainability Innovation of the 

Year” award by the Centre for Aviation 

(CAPA). 

“Turkish Airlines, which puts sustainability 

at the center of its business model, won 

this award within the scope of sustainable 

innovation with the ‘Microalgae Based 

Sustainable Bio-Jet Fuel Project [MICRO- 

JET],’ in which it worked closely with 

scientists to develop the world’s first 

carbon negative sustainable aviation fuel 

[SAF],” the flag carrier said in a statement. 

Micro-Jet, jointly carried out with Boğaziçi 

University, aims to produce biofuels from 

microalgae using hydro-processed fatty 

acids and hydrothermal liquefaction 

methods. Turkish Airlines plans to use 

this biofuel, which will be obtained from 

sustainable sources and is a project output 

that contributes to nine of the United 

Nations Sustainable Development Goals, 

in its flights after the engine tests to be 

carried out by Turkish Technic. 

When the national flag carrier uses this 

fuel, it will be one of the few global 

companies that can use the cleanest type 

of biofuel, the statement added. 

“As the airline that flies to more countries 

than any other airline in the world, we 

appreciate the sustainable aviation fuel as 

a key element in our sustainability strategy 

on reducing aviation’s environmental 

impact,” said Levent Konukçu, chief 

investment and technology officer at 

Turkish Airlines. 

“We will continue to invest and support 

sustainable aviation fuels and focus on the 

future of our world.” 

Turkish Airlines said it received APEX World 

Class and 2023 Five Star Global Airline 

awards with its service standard from the 

Airline Passenger Experience Association 

(APEX ), one of the world’s most trusted 

and prominent aviation organizations. 


Europe’s Electric vehicle 2022 sales grow in 

Q3 despite economic challenges 

Following a series of economic downturns, the European electric 

vehicle (EV) market is showing resilience despite the prevailing 

macroeconomic factors that have impacted consumer spending. 

In particular, data acquired and calculated by Finbold on November 

29 indicates that as of Q3 2022, the total number of Battery Electric 

(BEV) and Plug-in Hybrid Electric (PHEV) new passenger vehicles 

registrations in Europe stood at 571,377. The value represents 

a quarterly increase of about 1.98% from Q2’s value of 560,266. 

During Q1, the region recorded a registration of 562,276 units. 

A breakdown of the car types indicates that BEVs stood at 355,336 

in Q3, slightly increasing from Q2’s figure of 322,144, while in the 

first quarter, the registration was 325,285. Elsewhere, during the 

third quarter of 2022, the total registered PHEVs was 216,041, a 

drop from Q2’s 238,122. During Q1, the region had 236,991 new 

PHEV units. 

Notably, the total number of new passenger car registrations across 

Europe with an alternative fuel type recorded a quarterly drop 

of 2.47% to 1,265,947 in Q3. In Q2, the cars stood at 1,297,966, 

representing a drop of 2.88% from Q1’s 1,336,523. 

Drivers of Europe’s EV market growth 

The research acknowledged that the European EV market had 

grown significantly while highlighting some key drivers. According 

to the research report: 

“In general, the European EV market’s previous growth has 

been attributed to factors like increased income levels within a 

climate-conscious population, robust government support for the 

EV industry, and an extensive public-private partnership for EV 

charging infrastructure.” 

Despite the growth, the EV space still faces several hurdles, with 

the cost factor emerging as a critical obstacle. At the same time, 

how the prevailing economic conditions will impact the sector is yet 

to be seen. 

Read the full story with statistics here: https://finbold.com/ 

europes-electric-vehicle-2022-sales-grow-in-q3-despite-economicchallenges/ 

Find one of the charts below: 


Renault unveils 

major revamp, 

internalcombustion 

JV 

with Geely 

French automaker Renault announced 

a major reorganization, splitting its 

operations into a new electric vehicle unit 

and a separate internal combustion engine 

division with China’s Geely. 

The flagship division of its revamp, electric 

vehicle and software entity Ampere, was 

being prepared for an initial public offering 

(IPO) on the Euronext Paris in the latter 

half of next year at the earliest, it said in a 

statement. 

The new entity will employ around 10,000 

staff in France and produce the R5 and 4L 

electric vehicles in the north of the country, 

the carmaker said as it outlined the revamp 

for investors. 

The electric vehicle market is expected to 

grow rapidly in response to consumers’ 

worries about climate change, putting 

pressure on manufacturers to develop less 

polluting products. 

The European Union agreed to phase out 

new carbon dioxide-emitting vehicles 

by 2035, a move set to turbo-charge the 

production of electric prototypes on the 

continent. 

Renault said it plans to invite investment 

in Ampere but would remain the majority 

shareholder with “the support of potential 

strategic cornerstone investors.” 

Renault also intends to combine its 

technological, manufacturing and research 

and development activities for its hybrid 

and internal-combustion vehicles with 

Chinese automaker Geely in a new entity, 

“Horse.” 

The groups will share the division to design, 

develop, produce and sell components and 

systems for hybrid and internal-combustion 

vehicles, employing 19,000 people at 17 

powertrain factories and three research 

and development hubs across Europe, 

China and South America. 

In 2020, Renault suffered a historic loss 

and its recovery was destabilized by its 

withdrawal from Russia following Moscow’s 

invasion of Ukraine. The value of traditional 

car manufacturers pales in comparison to 

new players on the market specializing in 

electric vehicles such as Elon Musk’s Tesla 

or Chinese firm BYD. 

Renault still needs a large investment 

to accelerate its electric transformation 

according to plans it presented in 2020. 

U.S. giant Ford has taken similar steps, 

announcing the the “Ford Model E” 

earlier this year. The announcement 

comes as the sales of traditional internalcombustion 

vehicles fall. In the first nine 

months of 2022, hybrid and electric 

vehicles represented 38% of the brand’s 

registrations in Europe, a year-on-year 

increase of 12%. 

The separation of Renault’s activities 

has concerned trade unions after several 

waves of job cuts. Investors expressed their 

interest in Renault’s transformation, with 

the group’s stock value climbing 3.77% on 

the Paris stock market. 


Wiesmann reveals next generation technologies for 

latest Project Thunderball – the world’s first 

all-electric convertible roadster 

Wiesmann, the luxury sports car marque, 

has revealed further technical details of 

its highly-anticipated all-electric vehicle 

codenamed Project Thunderball – a 

vehicle that represents a return for the 

iconic brand with the world’s first electric 

convertible roadster. Designed with 

Wiesmann’s DNA running throughout, the 

car is an evolution of the exclusive German 

brand’s history combining the distinctive, 

sleek, looks of a Wiesmann with a modern, 

highly engineered, electric powertrain 

providing breath-taking performance. 

The two-seater, rear-wheel drive Project 

Thunderball sees twin electric rear-mid 

mounted motors delivering up to 500kW 

(680hp) to the rear wheels and 1100 Nm 

of torque, bringing phenomenal straightline 

performance and a targeted 0-62mph 

(0-100km/h) sprint acceleration time of 2.9 

seconds. Wiesmann’s precise engineering 

of the cutting-edge electric powertrain 

is key to delivering an emotional driving 

experience that is a trademark of 

Wiesmann sports car, embodied in timeless 

design that befits a performance EV of the 

modern era. 

Platform and packaging 

Project Thunderball has been built on 

a bespoke chassis architecture with its 

powertrain components cleverly packaged 

to provide the lowest possible centre 

of gravity. To keep the typical roadster 

proportions, the position of the driver and 

passenger are positioned as far backward 

as possible, presenting a challenge to 

integrate the drivetrain and large battery 

into the vehicle’s small footprint. 

The challenge was welcomed by its 

engineers who have pushed the limits 

of architecture configuration by locating 

the drivetrain behind the driver’s seat 

and battery modules in a T-shape along 

the centre tunnel and into the front of 

the vehicle along with the twin Axial flux, 

PMSM e-motors. With lightweighting key 

to efficiency, the vehicle’s powertrain 

combined with its carbon fibre body 

astonishingly weighs in at little more than 

1700kg (3747lb), providing an outstanding 

2.5kg per HP of performance. 

Battery power 

At the heart of the vehicle lies one of the 

most energy and power-dense battery 

packs available, providing a target range 

of 500km (310 miles). The 92kWh (83kWh 

available), Li-ion NMC, “module-to-pack” 

technology is based on series modules with 


integrated pouch cells, which in total weigh 

a very lightweight 500kg, 

The impressive battery capacity is uniquely 

high for a roadster and more akin to that 

of a sedan or SUV. Installing this capacity 

into a roadster will bridge the gap from 

a pure short-trip leisure car to a serious 

weekend car. In addition to this, owners 

can forget about charging anxiety thanks 

to its state-of-the-art 800V high-voltage 

architecture enabling ultra-rapid 300kW 

DC fast charging at a public charger 

or charging domestically via its 22kW 

onboard charger. Charging is provided via 

a standard Type-2 charging port with ACand 

DC charge ports. To keep the battery 

performing at such a high level, Wiesmann 

engineers have developed a sophisticated 

thermal management system for the 

battery module. Using a water-glycol mix, 

the modules are cooled via a bespoke 

designed, flow-simulated and optimized 

cooling plate, which transfers the heat 

to the base of the module as quickly as 

possible. 

A bespoke Battery Management System 

[BMS] has also been developed, which has 

given Wiesmann engineers the freedom to 

adjust, calibrate and fine-tune the vehicle’s 

drivability that is optimised for all driving 

states and ambient conditions. 

Regenerative braking system 

Wiesmann’s mission with Project 

Thunderball is to imbue its sports car 

with the emotion and immersive feel so 

many modern EVs lack. To create that 

incomparable driver-orientated Wiesmann 

experience, and to implement their own 

idea of how an emotional EV drives, a 

unique Intelligent Regenerative Braking 

System has been specifically developed. 

With five setting levels available, the 

steering wheel-mounted paddles allow 

instant adjustment of the car’s regenerative 

braking power, much like the shifting of 

gears on an ICE car, so drivers are more 

involved. 

As well as providing driving pleasure, the 

driver can change the twin electric motors’ 

feel to give a powerful engine braking 

effect when going downhill or braking 

into corners, which recharges the battery 

to regain additional range, and allowing 

optimum use and minimal waste of energy. 

The return of Wiesmann 

Roheen Berry, CEO of Wiesmann said, 

“The continued development of Project 

Thunderball is bringing Wiesmann ever 

closer to the goal of producing what 

will be the world’s most exciting electric 

sports car. Thanks to endless research and 

testing, the roadster will blend our bespoke 

cutting-edge powertrain technology with 

Wiesmann’s trademark German engineering 

excellence. We are putting the emotion 

back into EVs. Which is why technology has 

been a key part of this project, creating a 

vehicle that not only has the stunning looks 

of a true Wiesmann, but also drives like a 

world-class sports car. Iam equally pleased 

to say that we have had an enthusiastic 

response from customers. Since opening the 

reservations list at the end of September, 

we have ¾ of the first year of production 

slots allocated, proof that they are just as 

excited about the new technology in Project 

Thunderball as we are.” 


2022 

72

The goal is to 

build a global 

brand! 

Osman Öğüten, General Manager of MC Filter 

MC Filter, which has succeeded in being the 46th of Türkiye’s Top 100 Fastest Growing 

Companies in 2021, continues its production with the dream of building a global brand. 

Founded in Samsun in 2008 by 

two brothers, MC Filter produces 

approximately 2000 types of filters in 

the Automotive and Industrial group 

with its professional staff. Declaring 

that they continue their activities 

in their new production facilities 

in March, Osman Öğüten, General 

Manager of MC Filter answered our 

questions about production, export 

and other their activities. 

In line with this goal, with the 

understanding of quality, continuous 

improvement and after-sales support; 

it produces filters for Industrial use 

and automotive industry with its 

expert staff. 

First of all, can you tell us about 

your brand? 

The primary goal of MC Filter is 

to ensure customer satisfaction 

and gain the trust of the customer. 


What distinguishes yourself from your 

competitors? 

MC Filter aims to offer quality products to 

its customers at competitive prices. In this 

direction, MC Filter has a rapidly increasing 

product variety with its molding workshop, 

metal forming workshop and plastic 

injection workshop, quality reliability 

thanks to its laboratory, professional 

production techniques with a staff of 36 

engineers and with its innovation skills 

through 15-person R&D team. 

MC Filter distinguishes itself from its 

competitors by delivering quality products 

to its customers in the fastest way with 

competitive prices. 

What about your export activities? 

What are your goals? 

Our company exports to 35 countries, 

especially European countries. We export 

approximately 35% of our production. Our 

goal is to proudly represent our country all 

over the world as a strong global brand. 

Could you inform us about your new 

production facility? 

Our company produces approximately 2000 

types of filters with its 2 facilities of 7500 

m² and a staff of 340 people in a total open 

area of 15.000 m². 

We now have a more integrated facility by 

using the technological investments we 

made with our new facility. We are also 

in the approval phase for our R&D Center 

application. In order to become an original 

equipment manufacturer, we quickly make 

up for our shortcomings. 

Our approximate production capacity in 

the fields we describe as Automotive and 

Industrial is 700,000 units/month. 

In order to increase customer satisfaction, 

product diversity, product and process 

quality and production capacity, we serve 

with the amateur spirit of the first day, 

with the principle of “no excuses, only 

solutions” in our new facility. 


77 2022

Deteriorating 

European 

demand flagged 

as risk for 

Turkish exports 

Trade Minister Mehmet Muş warned of 

uncertainties for the period ahead as 

he said the demand that is expected to 

deteriorate further in Europe constituted a 

serious risk for Türkiye’s trade. 

“Uncertainties are likely to increase even 

more in the coming period,” Muş said 

during budget talks at Parliament’s Plan 

and Budget Commission. 

The gloomy outlook was affirmed by 

data measuring conditions in key export 

markets, showing demand in Türkiye’s key 

export markets continued to weaken in 

October. 

Türkiye’s Manufacturing Export Climate 

Index dropped to 47.9, a survey by the 

Istanbul Chamber of Industry (ISO) showed, 

marking a fall for the third consecutive 

month. 

The reading had run above the threshold 

level of 50 separating growth from 

contraction for 19 months before slipping 

to 48.8 in August. It was unchanged in 

September. 

The deterioration in October was the 

highest since June 2020 when Türkiye 

was plagued by the first wave of the 

coronavirus pandemic, ISO said. 

Muş cited the growing risk stemming from 

weakening demand in the European Union, 

Türkiye’s biggest export market. 

“This is why we are carrying out the 

necessary studies to strengthen our market 

diversification by directing our exporters to 

alternative markets,” said the minister. 

“Uncertainties are likely to increase even 

more in the coming period. A difficult 

period is ahead facing all countries on a 

global level.” 

The survey by ISO said output in Germany, 

the largest export market for Turkish 

manufacturers in Europe, declined for 

the fourth month in a row, with the fall 

accelerating compared to September. 

The United Arab Emirates (UAE) was the 

only country of Türkiye’s top 18 export 

markets that registered an increase in 

economic activity in October, the survey 

said. 

“The fact that only the UAE remains in 

the growth zone among the main export 

markets ... clearly shows that the slowdown 

in the global economy is widespread,” said 

Andrew Harker, economics director at S&P 

Global Market Intelligence. 

“Current trends suggest that manufacturers 

will continue to have difficulty obtaining 

new orders from export markets at least for 

the rest of 2022,” Harker noted. 

Türkiye’s exports remained buoyant and 

rose 15.4% from January through October 

this year to $209.5 billion, according to 

official data, marking an all-time 10-month 

high. 

Türkiye has set a $250 billion export target 

for this year, after reaching a record $225 

billion in 2021. 

Shipments to the EU jumped 13.5% in the 

said period, Muş said, stressing Türkiye 

enjoyed a $9.7 billion surplus in trade with 

the bloc. 

“This successful performance was achieved 

despite the negative factors on a global 

scale, as well as the serious negative effects 

of the decline in (foreign exchange) parity 

on our foreign trade,” he added. 

Muş said exports would have been $12 

billion higher and the trade deficit some 

$2.8 lower in the first 10 months had the 

euro not declined against the dollar. 

Imports, on the other hand, surged 

39.5% from January through October to 

$300.55 billion, the data showed, driven by 

rocketing energy costs and a jump in gold 

purchases. 

Energy imports leaped 118.4% year-overyear 

to $43.7 billion, while gold purchases 

soared 198.4% to $10.1 billion. 

Approximately 63% of the increase in 

imports stemmed from energy and gold, 

Muş said. Muş also said the volume of 

e-commerce that gained major pace with 

the pandemic more than doubled in the 

first half of this year. 

“The e-commerce volume that stood at TL 

161 billion in the first six months of 2021 

increased to TL 348 billion in the same 

period of 2022,” the minister said. 

Muş informed that TL 13.3 billion out of 

the TL 17.12 billion budget estimated for 

the ministry in 2023 would be used for 

rearrangement and development of trade. 


Firms’ FX assets 

at $171 billion 

Foreign exchange assests of non-financial 

companies declined by $260 million from 

July to $171.4 billion in August, data from 

the Central Bank have shown. 

Liabilities of those companies, on the other 

hand, fell by $2.3 billion in the same period 

to $260.5 billion. 

“Net foreign exchange deficit was $89.1 

billion indicating a decrease of $2.02 

million compared to July,” the Central 

Bank said. On the asset side, deposits held 

by domestic banks decreased by $970 

million, while export receivables and direct 

investments abroad increased by $446 

million and $259 million, respectively. 

“On the liability side; while domestic 

loans decreased by $4.3 billion, external 

loans -excluding trade credits- and import 

payables increased by $1.1 billion and $993 

million, respectively,” the bank said. 

Short-term external loans were down by 

$733 million, but longterm external loans 

increased by $1.3 billion over the same 

period. 

Foreign trade in Turkish Lira leap 110 percent 

Türkiye’s foreign trade volume in the 

Turkish Liras increased by 110 percent in 

the first 10 months of 2022 from a year ago 

to stand at 297 billion liras, the latest data 

from the Trade Ministry have shown. 

Exports in the local currency amounted to 

98 billion liras in January-October, rising 

from 51.25 billion liras in the same period 

of last year, while imports increased from 

90 billion liras to 199 billion liras. 

The number of countries that Türkiye sold 

its products in Turkish lira was 164, while 

the number of local companies engaged 

in exports in local currency reached nearly 

6,900 in September. The country’s exports 

increased by 2.8 percent year-on-year for 

an all-time-high October figure of $21.3 

billion. Imports grew nearly 32 percent on 

an annual basis to $29.3 billion. 

Türkiye’s foreign trade gap consequently 

widened more than 430 percent month 

from a year ago to $8 billion. 

Data from the ministry also showed that 

exports of high-tech products exhibited 

an annual decline of 3.2 percent to $2.2 

billion, while exports of medium hightech 

production rose by 12 percent to 

$9.2 billion. Medium low-tech products 

generated $9.5 billion in revenues, leaping 

72 percent from October last year. 

Nissan, Mitsubishi considering to invest in 

Renault’s new electric car brand 

Nissan Motor and Mitsubishi Motors may invest in Renault’s 

new electric vehicle company Ampere, the French automaker 

said Tuesday. 

“Renault Group revolutionizes itself focusing resources on the 

value chains arising from the transformation of the automotive 

and mobility industry: electric vehicles (EV), software, new 

mobility services, circular economy, in addition to ICE (internal 

combustion engine) & hybrid vehicles,” it said in a statement. 

The French automaker said it aims to list the new company 

in Europe in the second half of 2023, opening to external 

investors to hasten R&D and ecosystem development. 

Ampere, which will be based in France and employ about 

10,000 people, will also develop software for cars besides 

manufacturing and selling fully electric passenger vehicles, 

according to Renault. 


Caliskan Dokum started its production in Istanbul in 1983 

by producing cast iron fittings. In 2017, it continued the 

production on the DİSA Matic vertical molding line in its 

foundry located in Tekirdag-Cerkezkoy. 

Caliskan Dokum meets the needs of the market with high 

volume casting requirements by producing pig, nodular and 

tempered cast iron parts in its new modern facility. 

Caliskan Dokum is a manufacturer of fittings and operates its 

own brand, Caliskan Fittings. Thus, as a company culture, it 

has the opportunity of higher quality and more professional 

production in small figure parts. Our company, which makes 

the machining of its own products, gives the products 

that are poured in its own machining track as threaded 

according to the customer demand. 

Caliskan Dokum molding line is DISA Matic 2013 MK 4 and its 

molding size is 480 x 600 mm. Our casting cooling line is 50 

meters, which gives us an advantage in competition. 

In our foundry, we cast products with a part weight between 

50 gr and 30 kg as ductile iron 

or temper, with or without 

cores. Cores are produced by 

hot box, cold box or shell core 

processes, depending on the 

requirements and complexity of 

the parts being manufactured. 

Caliskan Dokum casts EN- 

GJL-150 (200-250-300), EN- 

GJS-400 (450-500-600) and 

EN-GJMB-350-10 according 

to customer demand and 

product structure. 

Caliskan Dokum melting facility; 

the inductothermy is a 2000 kg Duel-Track, with a double 

crucible melting furnace that melts 600 tons per month. Our 

company, which attaches importance to the sand process, 

aims to make castings of even better quality with different 

recipes and different sand processes for each poured 

product. Each poured product is tested in the laboratory, 

accompanied by spectral analysis, both after casting and 

after casting. 

Our company, which adopts customer satisfaction as a 

principle, provides services to the construction, automotive 

and agriculture sectors. As Caliskan Dokum, our primary 

mission is to be the first choice of our valued customers with 

our products, solutions, after-sales confidence and business 

ethics. In our company, where customer satisfaction is the 

top priority, our customers are provided with after-sales 

support in all matters.

Trade Ministry working to diversify export markets 

The Trade Ministry is working to diversify 

Türkiye’s export markets as demand from 

the European Union is expected to weaken, 

Trade Minister Mehmet Muş has said. 

Global risks and uncertainties are likely 

to heighten for Türkiye too in the period 

ahead and demand from the European 

Union, which is foreseen to lose 

momentum further produces risks for 

the country’s exports, Muş said, speaking 

at the parliament’s budget and planning 

commission. 

“That’s why we are working on plans, 

which are designed to diversity markets 

by channeling our exporters to alternative 

markets,” the minister added. 

Muş noted that 328 actions which targets 

18 nations, have already been taken under 

the “distant countries” strategy, which 

aims to increase Türkiye’s exports to those 

countries fourfold. 

The minister recalled that Türkiye’s exports 

increased by 15.4 percent in the first ten 

months of 2022 compared with the same 

period of last year to $209.5 billion, with 

sales to the Americas recording the highest 

increase. 

“Exports to the European Union, our 

largest trading partner rose by 13.5 

percent,” said Muş, noting that Türkiye’s 

trade surplus with the bloc reached $9.7 

billion. 

The trade surplus with the U.K amounted 

to $6 billion, he added. 

“This success was achieved despite the 

adverse impacts from the U.S dollar to euro 

exchange rate.” 

Muş also stressed the effects of high 

energy prices on Türkiye’s import bill. 

Some 63 percent of the increase in the 

country’s imports stemmed from the 

energy and gold imports, he explained. 

“Our energy imports grew by 118.4 percent 

or by $43.7 billion in the first ten months 

of 2022 from a year ago. This increase 

was due to the [energy] prices. Our gold 

imports rose by 198.4 percent or $10.1 

billion over the same period compared 

with the ten months of 2021,” Muş 

explained. 

Türkiye’s overall imports amounted to 

$300.6 billion in January-October, rising 

39.5 percent year-on-year, according to the 

latest data from the Trade Ministry. 

The country’s foreign trade deficit soared 

168.5 percent to $91.1 billion. 

In October alone, exports increased by 2.8 

percent on an annual basis to $21.3 billion, 

while the increase in imports was 31.9 

percent to $29.3 billion. The foreign trade 

gap widened more than 430 percent yearon-year 

to $8 billion. 

Meanwhile, the Istanbul Chamber of 

Industry’s (ISO) Türkiye manufacturing 

export climate index dropped to 47.9 in 

October from 48.8 in September. 

“Demand conditions in export markets 

have now deteriorated in three successive 

months, with the latest moderation the 

sharpest since the initial wave of the 

COVID-19 pandemic in June 2020,” the 

chamber said in a statement.

Automotive Exports December 2022

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