Automotive Ekports March 2024

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Monthly automotive aftermarket magazine<br />




İstmag Magazin Gazetecilik<br />

İç ve Dış Ticaret Ltd. Şti.<br />

Managing Editor (Responsible)<br />

Mehmet Söztutan<br />

mehmet.soztutan@img.com.tr<br />

Advertising Sales Consultant<br />

Adem Saçın<br />

+90 505 577 36 42<br />

adem.sacin@img.com.tr<br />

Enes Karadayı<br />

enes.karadayi@img.com.tr<br />

International Marketing Coordinator<br />

Ayca Sarioglu<br />

ayca.sarioglu@img.com.tr<br />

Advisory Editor<br />

Yusuf Okçu<br />

yusuf.okcu@img.com.tr<br />

Finance Manager<br />

Cuma Karaman<br />

cuma.karaman@img.com.tr<br />

Digital Assets Manager<br />

Emre Yener<br />

emre.yener@img.com.tr<br />

Technical Manager<br />

Tayfun Aydın<br />

tayfun.aydin@img.com.tr<br />

Graphic & Design Advisor<br />

Sami aktaş<br />

sami.aktas@img.com.tr<br />

Accountant<br />

Yusuf Demirkazık<br />

yusuf.demirkazik@img.com.tr<br />

Subsciption<br />

İsmail Özçelik<br />

ismail.ozcelik@img.com.tr<br />


İstmag Magazin Gazetecilik<br />

İç ve Dış Ticaret Ltd. Şti.<br />

Ihlas Media Center<br />

Merkez Mah. 29 Ekim Caddesi No: 11B / 21<br />

Yenibosna Bahcelievler, Istanbul / TÜRKİYE<br />

Tel: +90 212 454 22 22<br />

www.img.com.tr sales@img.com.tr<br />

KONYA:<br />

Metin Demir<br />

Hazım Uluşahin İş Merkezi C Blok<br />

Kat: 6 No: 603-604-605 KONYA<br />

Tel: (90.332)238 10 71 Fax: (90.332)238 01 74<br />



Merkez Mahallesi 29 Ekim Caddesi İhlas Plaza<br />

No:11 A/41 Yenibosna–Bahçelievler/ İSTANBUL<br />

Tel: 0212 454 30 00<br />

www.ihlasmatbaacilik.com<br />

Mehmet Soztutan, Editor-in-Chief<br />

mehmet.soztutan@img.com.tr<br />

Competitive and innovative…<br />

Actually, thanks to the perfect location and easy transportation opportunities,<br />

global automotive companies benefit from Türkiye and they make huge<br />

investments to expand their production in Türkiye. The Turkish automotive<br />

components industry reaches into many different sub-sectors of activity. The<br />

producers of parts and components have attained high standards reflected by<br />

large export volumes to the Western countries. There are numerous producers of<br />

automotive components and services in Türkiye.<br />

It should be noted that opening up a country’s market to the international markets<br />

allows a country more efficient production and allocation of resources as the<br />

country can concentrate on the production of goods in which it has a comparative<br />

advantage based on its factor endowments.<br />

Thus, world trade markets allow producers and consumers of the participating<br />

countries to benefit from lower prices, higher-quality products, more diverse<br />

supply of goods, and higher growth as it is the case for the Turkish automotive and<br />

auto spare parts industry.<br />

As part of its commitment to transforming its automotive industry, which has<br />

historically been a key economic driver in integrating the Turkish economy with the<br />

global value chain, and to its vision of making Türkiye an economic powerhouse,<br />

Türkiye has recently introduced its own locally-developed born-electric car built<br />

upon strength stemming from the country’s long-standing know-how in the area.<br />

Türkiye offers a supportive environment on the supply chain side. There are around<br />

1,100 component suppliers supporting the production of OEMs. With the parts<br />

going directly to the production lines of vehicle manufacturers, the localization rate<br />

of OEMs varies between 50 and 70 percent.<br />

Türkiye is home to many global suppliers. There are more than 250 global suppliers<br />

that use Türkiye as a production base, with 30 of them ranking among the 50<br />

largest global suppliers.<br />

Our publications remain at the service of those business people seeking to increase<br />

their share in the increasingly competitive automotive markets.<br />

This month, we will participate in Equip Auto Algeria, <strong>2024</strong> to convey the message<br />

of Turkish automotive exporters.<br />

We are convinced that fairs and exhibitions would be instrumental to increase<br />

business opportunities in the automotive industry.<br />

We wish Turkish automotive exporters and their trading business people<br />

lucrative business.<br />

automotiveexport<br />

EDİToR<br />


Auto sales reach record<br />

1.23 million last year<br />

February <strong>2024</strong><br />

Türkiye’s auto market expanded more than 57 percent<br />

last year from 2022, with passenger cars and light<br />

commercial vehicle sales hitting an all-time high of 1.23<br />

million. From January to December 2023, a total of<br />

967,342 passenger cars were sold in Türkiye, marking<br />

a robust 63.2 percent increase from the previous year.<br />

Light commercial vehicle sales rose more than 39<br />

percent to 265,294.<br />

The rising star of the market last year was electric<br />

vehicles (EVs). EV sales soared 833 percent in 2023<br />

compared with 2022 to reach 72,179 units, according<br />

to the data from the <strong>Automotive</strong> Distributors and<br />

Mobility Association (ODMD).<br />

In December alone, 12,078 EVs were sold in the<br />

country, pointing to a remarkable 695 percent year-onyear<br />

increase, led by Togg, Türkiye’s first indigenous<br />

EV company. In the month, Togg delivered 6,011<br />

vehicles, which brought the number of cars the<br />

company sold in the whole of 2023 to 19,583.<br />

U.S. carmaker Tesla sold 12,150 vehicles in 2023 in<br />

Türkiye, with sales in December alone standing at 550<br />

units. Türkiye’s electric vehicle market is expected to<br />

continue to grow at a fast pace well into <strong>2024</strong>, with<br />

EV sales forecast to reach 100,000 units, according to<br />

experts.<br />

The auto market grew 38 percent in the final month of<br />

last year as the combined sales of passenger cars and<br />

light commercial vehicles hit 158,653 units.<br />

The year-on-year increase in passenger cars slowed<br />

from nearly 40 percent in November to 37.7 percent<br />

in December. Last month, 158,653 passenger cars<br />

were sold, which was higher than the 115,000 sales<br />

recorded in the previous month. The slowdown in the<br />

pace of annual growth in passenger car sales started<br />

in August. The year-on-year sales eased from 118<br />

percent in July to 85 percent in August, further losing<br />

pace in September (55.9 percent) and October (55.4<br />

percent). Representatives from the industry expect<br />

auto sales to decline between 35 percent to 40 percent<br />

in <strong>2024</strong>. Vehicle sales will be around 750,000 units next<br />

year, where they were in 2020, they predicted.<br />

Bülent Kılıçer, senior assistant general manager at<br />

Honda Türkiye, said last month that difficulties with<br />

accessing loans and prohibitively high prices of brandnew<br />

cars would be the main factors hindering sales.<br />

The automotive industry’s export performance was<br />

also strong last year, with shipments to foreign markets<br />

increasing 13 percent from 2022 to surpass $35 billion,<br />

corresponding to 15.8 percent of Türkiye’s overall<br />

export revenues last year.<br />


Türkiye’s new domestic electric<br />

vehicle expected to hit road in <strong>2024</strong><br />

Following a recent boom in Türkiye’s electric vehicle<br />

market (EV) spearheaded by the first homegrown car,<br />

Togg, a new domestic car brand named “VERY” is<br />

gearing up to hit the roads in <strong>2024</strong>, according to a<br />

report.<br />

The electric car “VERY” is set to be produced through<br />

the Yıldız Technical University (YTU) “EVRY” initiative<br />

established within Yıldız Technopark, one of Türkiye’s<br />

leading technology research and development (R&D)<br />

centers. The serial production of the new domestic<br />

automobile brand has been scheduled to commence in<br />

2025 as pre-orders start, according to a report.<br />

The “VERY” will be produced entirely by local<br />

engineers and designers in four different models at<br />

Yıldız Technopark.<br />

The new generation electric car, designed to weigh no<br />

more than 400 kilograms (881 pounds) when unladen,<br />

was developed in 300 days by the “EVRY” team, a<br />

technology company established to develop products<br />

and software in the field of mobile systems.<br />

The vehicle, which seats four people in the sedan<br />

model, will also have a pick-up, two-seater convertible<br />

and ‘autonomous’ models capable of carrying loads up<br />

to 500 kilograms in industrial facilities.<br />

The electric motor, battery unit, software, remote<br />

control applications and autonomous driving features<br />

of the vehicles were developed by the same team of 23<br />

people.<br />

Providing information on the features and production<br />

process, the co-founder of “EVRY Teknoloji,” Yosun<br />

Karasu, noted that the approval process for the electric<br />

cars with a range of 300-350 kilometers for the Turkish<br />

market has been completed.<br />

“We are (actually) developing technology in the field<br />

of electro-mobility. Our focus is not just to produce a<br />

vehicle and step aside. We are more inclined to grow<br />

a technology company that will provide solutions to<br />

mobility issues,” he said.<br />

<strong>March</strong> <strong>2024</strong><br />


“We thought we could express ourselves more<br />

accurately by showcasing these technologies on<br />

vehicles. We chose a car model classified as L7, saying,<br />

‘Let it be a product that serves sustainability,’” Karasu<br />

explained.<br />

“One can travel at a maximum of 90 km (55.92 miles) in<br />

city traffic, and one person can travel alone with a 2-ton<br />

vehicle. This is completely contrary to sustainability.<br />

Therefore, choosing the L7 segment is more correct.<br />

Downsizing the types of vehicles will have a positive<br />

impact on traffic flow and the environment,” he added.<br />

Furthermore, touching upon the motor and battery<br />

characteristics, Karasu said, “We offer a 400-volt<br />

electric motor, designed and produced by us, a gearbox<br />

that provides multiple gear options and three different<br />

battery options with 11 kilowatt-hours (kwh), 22kwh and<br />

33kwh capacity options.”<br />

“They have an average weight of 35 kilos. We were<br />

able to reduce the weight of the engine we developed<br />

for the vehicle to 16 kilos. This is a very serious weight<br />

advantage for us.”<br />

Highlighting the R&D study conducted to determine<br />

the most accurate features based on user experiences,<br />

Karasu noted they attached importance to vehicleto-vehicle<br />

charging support and the backup battery<br />

feature.<br />

The company, which submitted a project application<br />

to YTU Yıldız Technopark in September 2022, was<br />

established in November 2022, while the prototype was<br />

completed in February 2023.<br />

Expressing their goal of offering vehicles with an<br />

accessible pricing policy, Karasu noted it “would not<br />

be right to provide the figure at the moment.” “We have<br />

150 pre-orders. We want to deliver these orders by the<br />

end of <strong>2024</strong>,” he noted, adding that they were looking<br />

for a place with a production capacity of 800 vehicles<br />

for the pre-serial production line.<br />

“This will be a temporary location. Pre-orders will also<br />

be available here. In fact, we have a capacity report<br />

of 120 vehicles annually at our location in YTU Yıldız<br />

Technopark. (But) since we want to go above and<br />

beyond, we plan to spend the next year in a temporary<br />

production facility,” he explained.<br />

“We are planning a factory investment of 10,000<br />

vehicles for mass production in 2025. The factory<br />

will be established in Bursa, Tekirdağ or Kocaeli,”<br />

concluded Karasu.<br />

<strong>March</strong> <strong>2024</strong><br />


Türkiye’s EV maker Togg unveils<br />

its sedan model before Europe debut<br />

<strong>March</strong> <strong>2024</strong><br />

Türkiye’s first homegrown electric vehicle maker<br />

announced the expansion of its lineup and unveiled<br />

its second model at the sprawling tech and gadget<br />

show in Las Vegas as it looks to start its expansion into<br />

Europe.<br />

The fastback sedan, the T10F, joins Togg’s debut<br />

model, the fully electric T10X SUV, and is scheduled<br />

to go on sale in Türkiye next year and then in the<br />

European market, according to the company.<br />

“We will introduce the T10F, a fastback reflecting the<br />

spirit of the times, to our users starting from Türkiye in<br />

2025,” Togg CEO Gürcan Karakaş said.<br />

Unveiled at CES, the annual high-tech gadget<br />

extravaganza, the model will be offered with three<br />

technical options and two equipment options.<br />

The T10F RWD (rear-wheel drive standard) with 160<br />

kW/218 horsepower and 350 Nm of torque will have a<br />

range of 350 to 600 kilometers (217.48 to 372.82 miles)<br />

with two different battery options.<br />

The T10F AWD (all-wheel drive) version, which has a<br />

0-100 km/h acceleration of 4.6 seconds and produces<br />

700 Nm of torque, targets a range of around 530<br />

kilometers. The standard-range model has a battery<br />

capacity of 52.4 kWh, while this capacity increases to<br />

88.5 kWh in the long-range model.<br />

The new model will also feature the innovative V2L<br />

(Vehicle-to-Load) capability, enabling the transfer of<br />

electric power from the battery to various electric<br />

devices.<br />

Togg is currently producing the T10X at its plant in the<br />

northwestern Bursa province. The production started<br />

in October 2022 before deliveries were launched last<br />

April.<br />

Besides the SUV and fastback, Togg will manufacture<br />

three other models – a C-hatchback, B-SUV and<br />

B-MPV – by 2030.<br />

Addressing the rationale behind choosing a fastback<br />

design for their second smart device, Karakaş<br />

highlighted the declining market share of sedan models<br />

worldwide.<br />

He emphasized the shift toward fastback models<br />

and said the T10F has been designed to meet sedan<br />

users’ expectations while capturing the zeitgeist<br />

with dynamic, appealing designs targeting a broader<br />

audience.<br />

Karakaş acknowledged that Türkiye remains a<br />


substantial market for sedans, but the worldwide trend<br />

is shifting toward electric vehicles with more diverse<br />

styles and dynamic lines, such as liftback, fastback,<br />

and coupe designs.<br />

The T10F is a version that is more advanced than the<br />

prototype first unveiled in 2019, he noted.<br />

“We have come up with a product that captures the<br />

spirit of the time, is dynamic, highly appealing, and will<br />

address a broader audience,” Karakaş said.<br />

“We are considering entering the market, most likely in<br />

2025, depending on completing the certification.”<br />

Togg’s current production capacity is said to reach<br />

100,000 vehicles per year before increasing to 175,000<br />

once the Bursa plant reaches full capacity.<br />

The brand aims to manufacture 1 million vehicles<br />

across the five segments by 2030.<br />

Togg has delivered around 20,000 T10Xs to date and<br />

plans to more than double that figure this year. “Our<br />

business plan for <strong>2024</strong> includes around 47,000 units,<br />

and we are considering a small portion of this for<br />

export,” said Karakaş.<br />

Karakaş shared Togg’s ambition to enter the European<br />

market, with Germany as their initial target by the end<br />

of <strong>2024</strong>.<br />

“We are establishing our presence in Germany. We aim<br />

to enter the German market and expect to do so by the<br />

end of this year,” he noted.<br />

On the infrastructure side, Togg has been establishing<br />

a charging station network across Türkiye under a<br />

brand named Trugo.<br />

It has set up more than 500 rapid chargers with<br />

capacities ranging from 180 to 300 kilowatts, enabling<br />

an 88-kilowatt battery to be charged in under half an<br />

hour. Karakaş stressed plans to launch battery cell<br />

production as of 2026 and said they aim to position<br />

Türkiye as one of Europe’s hubs in the battery domain.<br />

“When you start producing the battery cell yourself,<br />

you become familiar with the cost and technology of<br />

one of the most valuable products inside the vehicle,”<br />

he noted. Describing a significant transformation in the<br />

development of technology in Türkiye and the shift of<br />

suppliers toward next-generation vehicles, Karakaş<br />

stated, “We are also on the path to make our country<br />

one of Europe’s energy centers in terms of batteries.”<br />

Karakaş highlighted the company’s commitment to<br />

exhibiting not only its automotive brand and strategic<br />

goals but also its expanding portfolio of digital<br />

platforms and smart devices.<br />

“Alongside the T10F, we are also showcasing at CES<br />

our digital experience platform and clean energy<br />

solutions that are ready to enter global markets.”<br />

<strong>March</strong> <strong>2024</strong><br />


Equip Auto Algeria <strong>2024</strong> --International Trade Show<br />

for <strong>Automotive</strong> Aftersales and Services for Mobility<br />

Dive into the heart of this year’s must-see automotive<br />

event! Equip Auto Algeria <strong>2024</strong> invites you to an<br />

exceptional experience at the Palais des Expositions<br />

– Pins Maritimes – SAFEX Algiers from <strong>March</strong> 4 to<br />

7, <strong>2024</strong>. The show is much more than just a trade<br />

fair: it’s a real business generator, bringing together<br />

the key players in the automotive aftermarket and<br />

maintenance sectors. Meet industry professionals,<br />

explore new products and services, and be inspired by<br />

industry leaders. Equip Auto Algeria is your gateway<br />

to success in the North African market. Don’t miss this<br />

unique opportunity to expand your network, find new<br />

customers, and boost your business!<br />

The event includes the sectors such as Automobiles,<br />

<strong>Automotive</strong> Parts, <strong>Automotive</strong> Services, Service<br />

Station Supply, Bicycles, Motorcycles by focusing<br />

mainly on:<br />

distributors, repair professionals and fleet managers<br />

from Algeria, the Middle East and North Africa.<br />

At the heart of a new expanding environment of<br />

commercial and industrial dynamism, The EQUIP<br />

AUTO ALGERIA welcomes 10,320 professional visitors<br />

today. The visitors come essentially for the distribution<br />

of trade in import and export (50%).<br />

<strong>March</strong> <strong>2024</strong><br />

Bodywork , Painting Equipment , Accessories,<br />

Repair – Maintenance, Troubleshooting- Networks,<br />

Washing Services.<br />

EQUIP AUTO Algeria is the only Algerian trade fair<br />

specialising in automotive aftersales, repairs and<br />

maintenance, covering both light vehicles and heavy<br />

goods vehicles. EQUIP AUTO ALGERIA, genuine<br />

business generator in the automotive aftersales<br />

and maintenance ecosystem, your gateway to the<br />

North African market. Meet your future business and<br />

industrial partners at EQUIP AUTO ALGERIA. EQUIP<br />

AUTO ALGERIA attracts a visiting public that grows<br />

each year, with an 89% satisfaction rate. Visitors are<br />



The 30th edition of Autopromotec, the most<br />

specialized international exhibition of automotive<br />

equipment and aftermarket products, will be held May<br />

21 – 24, 2025 at the Bologna Trade Fair Center.<br />

Branded from its earliest beginnings as an<br />

“international exhibition”, Autopromotec (back then<br />

called SARP – Exhibition of Tyre Retreading Equipment)<br />

was born in 1965 in Rome thanks to an AIRP (Italian<br />

Tyre Retreaders Association) initiative meant to<br />

give visibility to the technological developments<br />

experienced by the retreading sector in those years.<br />

In 1967 the exhibition, now held in Bologna, launched<br />

the biennial formula still popular nowadays. A new<br />

phase begins in 1973, and SARP is partnered with<br />

SIAC (International Exhibition of Equipment, Car<br />

repair garages and Car body shops), and in 1991<br />

the two exhibitions join together to form one, called<br />

Autopromotec. The big turning point occurs in 2005,<br />

when Autopromotec includes new product sectors<br />

such as spare parts, components and car service to<br />

embrace the whole automotive aftermarket.<br />

Today Autopromotec represents a selection of<br />

specialized trade shows where attendees can,<br />

thanks to the division of the show floor into sectorrelated<br />

halls, plan custom-made visits based on their<br />

professional interests. The exclusive approach adopted<br />

by Autopromotec makes the show a showcase of<br />

cutting edge technologies, innovations, new products<br />

and market opportunities which are a benchmark for<br />

the sector. The exhibition has established an enviable<br />

reputation as a specialized, representative and<br />

professional event for highly qualified exhibitors (only<br />

manufacturers and authorized dealers) and, in its fiftyyear<br />

history, it has kept pace with the technological<br />

and professional growth of the automotive sector,<br />

becoming a must-see for the supply and demand<br />

network. Autopromotec is the place where business<br />

opportunities turn into global networking strategies.<br />

<strong>March</strong> <strong>2024</strong><br />


China’s BYD replaces Tesla as<br />

world’s top electric vehicle maker<br />

China’s electric vehicle producer BYD unseated Elon<br />

Musk’s Tesla, according to latest statistics released.<br />

The U.S.-based car manufacturer run by billionaire<br />

Musk delivered 484,507 vehicles in the fourth quarter<br />

of 2023, said a company filing – up more than 11%<br />

from the previous quarter.<br />

But this increase was not enough to maintain Tesla’s<br />

crown as the world’s top battery electric vehicle<br />

producer and seller, as Chinese rival BYD reported<br />

sales of 526,409 for the same period.<br />

These figures underscore the challenges Tesla will<br />

likely face this year, from competitors keen to capitalize<br />

on the growing demand for EVs.Tesla’s stock slipped<br />

after the news was announced, before regaining<br />

ground. As well as besting Tesla in pure electric vehicle<br />

sales, BYD sold more than 400,000 plug-in hybrid<br />

electric vehicles in the fourth quarter. In total, it sold<br />

more than three million passenger vehicles last year.<br />

However, Tesla was still the top seller of EVs on an<br />

annual basis, delivering more than 1.8 million vehicles<br />

to customers in the year to December, well above<br />

BYD’s sales figure of just under 1.6 million.<br />

<strong>March</strong> <strong>2024</strong><br />


Global EV Sales to Hit a New Record with<br />

Almost 12M Units and $623B in Revenue in <strong>2024</strong><br />

<strong>March</strong> <strong>2024</strong><br />

After a modest 3% growth last year, the global electric<br />

vehicle market is back on track to hit a new record.<br />

With global demand for electric cars rising despite<br />

their high price tag, this year is set to witness more<br />

new EVs on the road than ever. According to data<br />

presented by Stocklytics.com, global EV sales are<br />

expected to hit almost 12 million units in <strong>2024</strong>, the<br />

highest figure this market has ever seen. Although tax<br />

incentives have made electric vehicles like Tesla (TSLA)<br />

a bit more accessible, they still cost much more than<br />

gas cars. Last year, the new EV cost about $52,800<br />

on average, too much for many people, and <strong>2024</strong><br />

is expected to see similar prices. Their above-theaverage<br />

price tags, slower sales growth, and growing<br />

inventories have spooked carmakers last year, with<br />

some even reconsidering their EV plans. But despite<br />

these challenges, the global demand for electric vehicles<br />

continues to rise. A Statista survey shows global EV<br />

sales have tripled since 2020, rising from 3.1 million<br />

to 10.64 million sold vehicles. In 2021 alone, sales<br />

skyrocketed by a whopping 107% year-over-year,<br />

followed by a 55% growth in 2022. After a modest 3%<br />

increase last year, the annual EV sales growth rate is<br />

expected to triple and hit 10% in <strong>2024</strong>, resulting in<br />

almost 12 million new EVs on the road, the highest figure<br />

the market has ever seen. With electric vehicles playing<br />

a central role in the ambitious objective of zero-emission<br />

targets set for 2050, Statista expects global EV sales to<br />

keep accelerating in the following years. By 2028, the<br />

market is expected to hit over 17 million sold units, or<br />

40% more than this year. Revenue in the electric vehicle<br />

market will also skyrocket in this period. According to<br />

Statista, the global EV industry will gross over $623bn in<br />

<strong>2024</strong>, or 11% more than last year. This figure is expected<br />

to grow by an average of 10% per year and climb to<br />

more than $900bn by 2028. While EV sales continue to<br />

accelerate globally, the regional differences are still high<br />

and will remain similar in the future. As an electric vehicle<br />

powerhouse, China will make up 57% of total sales in<br />

<strong>2024</strong>, with 6.8 million sold units. This figure will jump to<br />

8.7 million by 2028, but China`s market share will slip to<br />

51%. Statists show that EV sales in the United States<br />

and Europe are far below these figures. Americans are<br />

expected to buy close to 1.3 million electric vehicles<br />

this year, or 10% of global sales. However, EV sales<br />

in the United States are expected to double and hit<br />

almost 2.5 million units by 2028, making 14% of the<br />

world`s total that year. Although Europe experienced a<br />

slowdown in EV sales in the past two years, compared<br />

to the exceptional growth seen in 2020 and 2021, the<br />

old continent will remain the second-largest electric<br />

vehicle market with 3 million sold units and a 25% share<br />

in <strong>2024</strong>. By 2028, total sales will jump to over 4.8 million,<br />

while the European market share will increase to 28%.<br />


Türkiye’s automotive industry<br />

competitive more than ever<br />

The foundation of Türkiye’s automotive industry<br />

dates back to the early 1960s. During a period of<br />

rapid industrialization and progress, this key sector<br />

transformed itself from assembly-based partnerships<br />

to a full-fledged industry with design capability and<br />

massive production capacity. Since 2003, original<br />

equipment manufacturers (OEM) have invested over<br />

USD 17 billion in their operations in Türkiye. These<br />

investments significantly expanded their manufacturing<br />

capabilities, which in turn led Türkiye to become an<br />

important part of the global value chain of international<br />

OEMs. Meeting and exceeding international quality and<br />

safety standards, today’s Turkish automotive industry is<br />

highly efficient and competitive thanks to value-added<br />

production. As part of its commitment to transforming<br />

its automotive industry, which has historically been a<br />

key economic driver in integrating the Turkish economy<br />

with the global value chain, and to its vision of making<br />

Türkiye an economic powerhouse, Türkiye has<br />

introduced its own locally-developed born-electric car<br />

built upon strength stemming from the country’s longstanding<br />

know-how in the area.<br />

Accordingly, Türkiye’s Automobile Joint Venture<br />

Group, known as Togg, will produce five different<br />

models on a joint platform with fully-owned<br />

intellectual and industrial property rights by 2030.<br />

Leveraging a competitive and highly-skilled workforce<br />

combined with a dynamic local market and favorable<br />

geographical location, the vehicle production of 8<br />

global OEMs in Türkiye has increased by almost five<br />

times from 300,000s in 2002 to over 1.3 million units in<br />

2022. This represents a compound annual growth rate<br />

(CAGR) of around 6 percent during that period.<br />

• Significant growth posted by Türkiye’s automotive<br />

sector led to the country’s becoming the 13th largest<br />

automotive manufacturer in the world and 4th largest in<br />

Europe by the end of 2022.<br />

• Türkiye has already become a center of excellence,<br />

particularly with respect to the production of<br />

commercial vehicles. By the end of 2022, Türkiye was<br />

the number one producer of commercial vehicles (CVs)<br />

in Europe.<br />

• Proven as a production hub of excellence, the Turkish<br />

automotive industry is now aiming at improving its<br />

R&D, design, and branding capabilities. As of 2022,<br />

156 R&D and design centers belonging to automotive<br />

manufacturers and suppliers are operational in Türkiye.<br />

• Notable examples of global brands with product<br />

development, design, and engineering activities in<br />

Türkiye include Ford, Fiat, Daimler, AVL, and FEV.<br />

<strong>March</strong> <strong>2024</strong><br />


Ford Otosan’s R&D center is one of Ford’s three largest<br />

global R&D centers, while Fiat’s R&D center in Bursa is<br />

the Italian company’s only center serving the European<br />

market outside its home country.<br />

Meanwhile, Daimler’s R&D center in Istanbul<br />

complements the German company’s truck and bus<br />

manufacturing operations in Türkiye. AVL Türkiye,<br />

which opened up its 2nd R&D center in Türkiye,<br />

develops autonomous and hybrid vehicle technologies.<br />

• Türkiye offers a supportive environment on the supply<br />

chain side.<br />

There are around 1,100 component suppliers<br />

supporting the production of OEMs. With the parts<br />

going directly to the production lines of vehicle<br />

manufacturers, the localization rate of OEMs varies<br />

between 50 and 70 percent.<br />

• Türkiye is home to many global suppliers. There are<br />

more than 250 global suppliers that use Türkiye as a<br />

production base, with 30 of them ranking among the<br />

50 largest global suppliers.<br />

•Auto manufacturers increasingly choose Türkiye<br />

as a production base for their export sales. This<br />

is evidenced by the fact that 73 percent of vehicle<br />

production in Türkiye was destined for international<br />

markets in 2022. Türkiye exported more than 950,000<br />

vehicles to international markets in the same year. In<br />

addition, Türkiye has been the number one vehicle<br />

exporter to European markets for around a decade.<br />

<strong>March</strong> <strong>2024</strong><br />


Human Horizons Breaks Records in World’s<br />

Biggest EV Range Test with the HiPhi Z<br />

Human Horizons, a leading company in automotive<br />

innovation, celebrates a remarkable achievement as<br />

the HiPhi Z dominates the world’s biggest EV range<br />

test, surpassing its rivals with an impressive 522km<br />

journey in cold weather conditions. This significant<br />

milestone further solidifies HiPhi Z’s position as a<br />

frontrunner in winter driving performance.<br />

The test, organized by the Norwegian Automobile<br />

Federation and Motor magazine, aimed to establish<br />

an industry standard for electric vehicle range and<br />

charging speed. Out of the 23 participants, only one<br />

car had a deviation of less than 10 percent from<br />

the certified WLTP test numbers, and the HiPhi Z<br />

exceeded expectations with a deviation of only 5.9<br />

percent. In total the HiPhi Z was able to achieve 522km<br />

beating all of its rivals including those that theoretically<br />

had a longer WLTP certified range.<br />

This exceptional achievement can be attributed to<br />

the revolutionary Efficient Thermal Management<br />

System developed in-house by Human Horizons.<br />

The CrossLoop Efficient Thermal Management<br />

System, a result of Human Horizons’ cutting-edge<br />

thermal integration technology, combines an efficient<br />

heat pump AC HVAC system with an intelligent<br />

and efficient E-Powertrain thermal management<br />

system. This integration creates an energy-saving,<br />

efficient, comfortable, and intelligent thermal system,<br />

outperforming competitors in the industry.<br />

Navigating through the treacherous Dovrefjell terrain,<br />

facing the challenges posed by storm “Ingunn,” the<br />

HiPhi Z triumphed with its unwavering performance.<br />

Despite the road closure over Venabygdsfjellet, the<br />

HiPhi Z demonstrated unmatched endurance, covering<br />

522km with exceptional comfort and minimal deviation.<br />

Simen Zimmermann, the testing driver, commended<br />

the HiPhi Z’s cabin for providing exceptional warmth<br />

and comfort throughout the journey. He states, “It was<br />

only towards the end, the last kilometers, that it started<br />

slowing down. It glided smoothly over the mountain,<br />

passing several stopped cars from the test.”<br />

Mark Stanton, Co-Founder, Chief Technical Officer,<br />

and European Program President of Human Horizons,<br />

expressed his pride in the HiPhi Z’s extraordinary<br />

achievement, stating, “Tireless innovation and<br />

unique technology development is at the heart of<br />

our company, and our team is not only proud of this<br />

recognition but also the exceptional comfort the HiPhi<br />

Z demonstrated.”<br />

The exceptional feat of the HiPhi Z underscores its<br />

prowess in adverse conditions, setting a new standard<br />

for cold-weather endurance and performance. As the<br />

automotive industry continues to evolve, HiPhi Z emerges<br />

as a true contender, ready to redefine the boundaries of<br />

what is possible in the world of electric vehicles.<br />

<strong>March</strong> <strong>2024</strong><br />


Auto sales, all time high, total<br />

1.23 million last year<br />

<strong>March</strong> <strong>2024</strong><br />

Türkiye’s auto market expanded more than 57 percent<br />

last year from 2022, with passenger cars and light<br />

commercial vehicle sales hitting an all-time high of 1.23<br />

million. From January to December 2023, a total of<br />

967,342 passenger cars were sold in Türkiye, marking<br />

a robust 63.2 percent increase from the previous year.<br />

Light commercial vehicle sales rose more than 39<br />

percent to 265,294.<br />

The rising star of the market last year was electric<br />

vehicles (EVs). EV sales soared 833 percent in 2023<br />

compared with 2022 to reach 72,179 units, according<br />

to the data from the <strong>Automotive</strong> Distributors and<br />

Mobility Association (ODMD).<br />

In December alone, 12,078 EVs were sold in the<br />

country, pointing to a remarkable 695 percent year-onyear<br />

increase, led by Togg, Türkiye’s first indigenous<br />

EV company. In the month, Togg delivered 6,011<br />

vehicles, which brought the number of cars the<br />

company sold in the whole of 2023 to 19,583.<br />

U.S. carmaker Tesla sold 12,150 vehicles in 2023 in<br />

Türkiye, with sales in December alone standing at 550<br />

units. Türkiye’s electric vehicle market is expected to<br />

continue to grow at a fast pace well into <strong>2024</strong>, with<br />

EV sales forecast to reach 100,000 units, according to<br />

experts. The auto market grew 38 percent in the final<br />

month of last year as the combined sales of passenger<br />

cars and light commercial vehicles hit 158,653 units.<br />

The year-on-year increase in passenger cars slowed<br />

from nearly 40 percent in November to 37.7 percent in<br />

December.<br />

Last month, 158,653 passenger cars were sold, which<br />

was higher than the 115,000 sales recorded in the<br />

previous month.<br />

The slowdown in the pace of annual growth in<br />

passenger car sales started in August. The yearon-year<br />

sales eased from 118 percent in July to 85<br />

percent in August, further losing pace in September<br />

(55.9 percent) and October (55.4 percent).<br />

Representatives from the industry expect auto sales to<br />

decline between 35 percent to 40 percent in <strong>2024</strong>.<br />


Türkiye exports defense<br />

industry products to 185 countries<br />

<strong>March</strong> <strong>2024</strong><br />

Türkiye has increased its annual exports of defense<br />

industry products by 27 percent in the year 2023, the<br />

head of the defense industry presidency has said,<br />

informing that around 230 different products were sold<br />

to 185 countries in the world. Turkish Defense Industries<br />

President Haluk Görgün evaluated the performance of<br />

his agency in 2023 and informed the targets set for <strong>2024</strong><br />

at a meeting with Ankara bureau chiefs of the media<br />

outlets in the Turkish capital on January 12.<br />

“I can say that we have fully achieved the targets set<br />

for 2023 in every field,” Görgün stressed, informing that<br />

one of the efficient ways to measure the success of his<br />

agency is the exports of defense industry products.<br />

“In the year 2023, we have broken the record in terms<br />

of the exports of the defense industry products. Our<br />

defense industry exports increased by 27 percent<br />

compared to 2022 and reached a total of $5.5 billion,”<br />

Görgün stated. He also informed that new contracts<br />

with a total value exceeding $10 billion were also<br />

signed in 2023.<br />

“This is the reflection of the confidence towards our<br />

defense industry,” he underlined, describing the<br />

growing Turkish defense industry as the rising star<br />

of Türkiye. Görgün recalled that the Turkish defense<br />

industry products were sold to 170 countries in 2022<br />

and that this number increased to 185 countries in<br />

the past year. “We are exporting around 230 different<br />

defense industry products,” he said. Türkiye has<br />

become one of the top exporters of drones and armed<br />

drones in recent years as these products have proven<br />

their quality in both Türkiye and in the countries they<br />

are being used.<br />

“For us, the fact that our products are being sold<br />

and efficiently used by our friends and allies is good<br />

evidence of the success of our industry,” he stated.<br />

Türkiye is among five countries that can produce<br />

advanced armed drones and among 10 countries<br />

that can produce submarines and other sea vessels,<br />

Görgün recalled. “We are of the opinion that<br />

Türkiye’s deterrence in the face of the changes in the<br />

geopolitical balances can only be possible through a<br />

strong and national defense industry capacity.”<br />

There will be many good news stories regarding<br />

the defense industry achievements in the year<br />

<strong>2024</strong>, Görgün vowed, informing that Türkiye’s first<br />

indigenous fifth-generation fighter jet, KAAN, will<br />

perform its first flight.<br />

“KAAN will soon take off. But, at the same time,<br />

we have already started our works for the sixth<br />

generation warplanes,” Görgün said, adding that<br />

KAAN will use the engines to be fully developed and<br />

produced by national resources.<br />

On a question, Görgün announced that Türkiye has<br />

suspended its demand to supply drone cameras<br />

from Canada, which has been imposing arms sale<br />

restrictions to the former. “We have suspended this<br />

process. We are producing much better ones, and<br />

very soon the serial production of the drone cameras<br />

will begin this month,” the president said.<br />

Türkiye has already been producing an older fashion<br />

of these cameras and was exporting them to 15<br />

countries, he recalled, stressing that the new ones<br />

will be one of the best being used in the world.<br />


Nur Plastik redefines place mats<br />

The company does not compromise on flexibility<br />

and quality by using recycled materials<br />

Providing stylish, robust and safe mounting of vehicle<br />

license plates, which are environmentally friendly and<br />

easy-to-use, Nur Plastik offers the most competitive<br />

products to the automotive aftermarket industry. We<br />

asked the story of the company to Muammer Dikmen,<br />

proprietor of Nur Plastik <strong>Automotive</strong> Products.<br />

Could you briefly introduce yourself and your<br />

company?<br />

Nur Plastik started to operate in 1992 with the license<br />

plate mats it produced. It has expanded its product<br />

range and is the preferred company in the sector with<br />

mats, key holders, auto odor and other promotional<br />

products added to its product range.<br />

Product diversity, product quality, sales speed, R &<br />

D and production work, working with the principle<br />

of customer orientation, has become the leading<br />

manufacturer in Turkiye by gaining the appreciation<br />

of the sector. In Istanbul, plastic injection molding,<br />

coating, CNS, digital printing, and a 3000 m 2 closed<br />

area factory area with a laboratory.<br />

It started to invest in 2018 for the processing of<br />

magnesium plates used in printing processes,<br />

embossed printing processes, molding methods and<br />

established the 3rd production facility in the world<br />

and the first in Turkiye. A strategic product certificate<br />

has been obtained, state-supported projects and<br />

investments are ongoing.<br />

What is in your product portfolio and what are the<br />

prominent factors in these products?<br />

The variety of products that provide stylish, robust<br />

and safe mounting of vehicle license plates,<br />

environmentally friendly and easy-to-use features are<br />

the main features that make our products stand out in<br />

our products.<br />

<strong>March</strong> <strong>2024</strong><br />


What kind of studies do you have on product<br />

development and R&D?<br />

Product development in license plate production<br />

continues regularly and in line with the needs of the<br />

sector, and easier to use, economical, innovative and<br />

environmentally friendly products are registered as<br />

utility models.<br />

For magnesium, improvements and developments<br />

continue with the strategic product certificate and<br />

state-controlled supports.<br />

What are the features that make you superior to<br />

your competitors?<br />

The sales network established with regular visits and<br />

follow-ups in 81 provinces across Turkiye, full customer<br />

satisfaction, speed and consumer-oriented approach,<br />

commercial activities with manufacturer / distributor<br />

companies, product quality have enabled our company<br />

to differentiate and outperform its competitors.<br />

Are there any investments planned in the short,<br />

medium and long term?<br />

In the last few years, our machine park has been<br />

updated with energy-saving, environmentally friendly<br />

injection molding machines and our investments<br />

continue.<br />

An overseas production facility investment is planned<br />

in the future.<br />

What would you like to say about your current and<br />

target markets, foreign promotion, fair participation<br />

etc. strategies?<br />

Currently, exports are realized to 14 countries through<br />

distributors and direct sales method and it is aimed<br />

to reach many new customers in a short time with the<br />

factory investments planned abroad. Nur Plastik has<br />

been exporting its products both at home and abroad.<br />

Our company regularly participates in Automechanika<br />

and promotion fairs.<br />

<strong>March</strong> <strong>2024</strong><br />


Türkiye earmarks $20 billion by<br />

2030 to ramp up energy efficiency<br />

<strong>March</strong> <strong>2024</strong><br />

Türkiye announced plans for about $20 billion (nearly<br />

TL 600 billion) of energy efficiency investment by 2030<br />

through collaboration between the public and private<br />

sectors, seeking to achieve billions of dollars in energy<br />

savings and curb carbon dioxide emissions.<br />

Heavily dependent on imports for its energy needs,<br />

Türkiye has injected vast capital to expand and<br />

strengthen its infrastructure and energy networks and<br />

strives to address climate change and secure a cleaner<br />

energy future.<br />

Energy and Natural Resources Minister Alparslan<br />

Bayraktar emphasized energy efficiency as one of<br />

the most important policy tools for ensuring supply<br />

security, increasing industrial competitiveness,<br />

reducing dependence and minimizing the effects of<br />

climate change by 2030.<br />

“We are launching a new energy efficiency movement<br />

to strengthen energy supply security and reduce<br />

external dependence as part of a sustainable and<br />

environmentally conscious energy policy,” he said,<br />

adding that the initiative aligns with the country’s 2053<br />

net zero climate targets.<br />

Bayraktar was speaking at the launch of Türkiye’s<br />

Energy Efficiency 2030 Strategy and Action Plan. He<br />

said the country was starting to implement the Second<br />

National Energy Efficiency Action Plan, to be executed<br />

between <strong>2024</strong> and 2030.<br />

The program envisages about $20 billion investment<br />

in energy efficiency schemes by 2030, pledging to<br />

reduce energy consumption and fossil fuel emissions,<br />

he noted.<br />

“By implementing our action plan, we will reduce our<br />

energy consumption by 16% by 2030 and contribute<br />

to a reduction of 100 million tons of emissions. To<br />

achieve these goals, the public and private sectors will<br />

invest $20 billion in energy efficiency by 2030,” said<br />

Bayraktar.<br />

Through the investment, “we aim to save $46 billion<br />

worth of energy by 2040,” he noted. “We will produce<br />

new job opportunities by supporting companies<br />


operating in the field of energy efficiency.”<br />

Bayraktar also noted that Türkiye was one of two<br />

countries that improved its energy intensity the most in<br />

the world for two consecutive years in 2021 and 2022.<br />

While the global energy intensity improvement in 2022<br />

was realized as 2% on average, Bayraktar explained<br />

that Türkiye’s energy intensity dropped by 6.2% in<br />

2022, dubbing it a “record development.”<br />

Addressing the need for energy transformation and<br />

achieving targets, the minister outlined priorities,<br />

including increasing the use of renewable energy<br />

sources, utilizing nuclear energy and natural gas as<br />

transition fuels, exploring hydrocarbon resources,<br />

strengthening energy infrastructure and investing in<br />

hydrogen, critical minerals, storage and digitization<br />

technologies.<br />

He stressed that developing and promoting local<br />

production in all areas of energy is a primary focus.<br />

Türkiye has managed to increase overall power<br />

generation while simultaneously cutting coal generation<br />

thanks to an aggressive rise in clean power deployment<br />

from wind, solar and hydro installations.<br />

The country has an ambitious plan to triple its<br />

renewable energy capacity by 2053 as it strives to<br />

become a carbon-neutral economy. About 55% of<br />

its installed power capacity is currently derived from<br />

renewable energy sources. The rate makes it fifth in<br />

Europe and 12th in the world. It ranks fourth globally<br />

and first in Europe in terms of installed geothermal<br />

capacity. It is second in Europe and ninth in the<br />

world in terms of installed capacity of hydroelectric<br />

power plants. It plans to add about 5,000 megawatts<br />

of offshore wind power to its energy portfolio in<br />

the coming years. Ankara provides incentives for<br />

renewable energy generation and will start operating<br />

the first reactor at the Akkuyu Nuclear Power Plant<br />

in 2023. The plant is expected to produce up to 10%<br />

of Türkiye’s electricity once all four reactors are in<br />

operation. The government has said it plans additional<br />

nuclear plants. Türkiye’s natural gas consumption<br />

dropped 8% year-over-year in 2023 to 51.48 billion<br />

cubic meters (bcm), according to official data. Seeking<br />

to curb its dependence on external resources, Türkiye<br />

has been developing the 710 bcm natural gas field<br />

in the Black Sea, which was gradually discovered in<br />

August 2020.In April 2023, it started pumping gas<br />

from the Sakarya field off the northwestern Zonguldak<br />

province into the national grid through a pipeline linked<br />

to an onshore processing plant. The daily production of<br />

gas from the reserve stands at around 4 million cubic<br />

meters (mcm). Bayraktar underlined the role of energy<br />

efficiency applications as crucial tools in achieving<br />

net-zero transformation on the supply side and<br />

complementary on the demand side.<br />

“We believe that achieving energy efficiency is possible<br />

without compromising physical comfort and social<br />

well-being and without reducing production or service<br />

quality,” he asserted.<br />

<strong>March</strong> <strong>2024</strong><br />


<strong>March</strong> <strong>2024</strong><br />

Fırat Dilgin the company official of Doğu Otomotiv<br />

Doğu Otomotiv, a<br />

reliable supplier of<br />

spare parts<br />

The company offers competitive auto<br />

aftermarket products for passenger and<br />

commercial vehicles<br />

Doğu Otomotiv, a reliable supplier in the auto spare<br />

parts industry, not only sells wholesale and retail sales<br />

of reputable foreign brands, but also develops its own<br />

brand “DGU Parts” group. We asked the success story<br />

of the company to Fırat Dilgin, the company official of<br />

Doğu Otomotiv:<br />

Could you indicate the main milestones that your<br />

company has achieved since its establishment?<br />

Founded in 2017, our company “Doğu <strong>Automotive</strong><br />

Spare Parts” has managed to make a sound both in<br />

the country and abroad in a very short time with its<br />

customer-oriented approach since its establishment.<br />

A significant part of our product portfolio is FORD<br />

original spare parts and the industry’s recognized<br />

original AFTERMARKET brands such as FOMOCO,<br />


FTE, VISTEON, DAYCO etc. We carry out wholesale<br />

and retail sales of brands.<br />

In addition, with our own brand “DGU Parts”, we are<br />

expanding our product range especially in the FORD<br />

passenger and commercial segment.<br />

In addition, especially in line with the special demands<br />

of our foreign customers, we provide spare parts for all<br />

passenger and commercial vehicle brands at affordable<br />

prices. As of 2017, we have started to serve all over<br />

Turkiye with wholesale buying and selling services and<br />

strengthened our business partnership with important<br />

companies of the market. We provide direct service to<br />

our customers all over Turkiye with online B2B system<br />

and sales representatives.<br />

As of 2018, we have opened to foreign markets by<br />

realizing our first export. Our current export markets<br />

are Russia, Georgia, England and North African<br />

countries.<br />

As of the beginning of 2020, we started the opening<br />

of our Retail Stores and we continue our growth with<br />

the understanding of reasonable price, fast and quality<br />

service to our customers with both Wholesale and<br />

Retail stores in Ford spare parts.<br />

As of 2021, we started to realize the domestic and<br />

international production and sales of our own products<br />

with our “DGU Parts” brand, which we launched.<br />

We will continue to expand our business network with<br />

our Istanbul-based company, 3 different retail branches<br />

and 1 wholesale operation warehouse.<br />

Thanks to our experienced staff in the sector at the<br />

points of pre-sales and after-sales service, service<br />

transfer and customer satisfaction, we continue our<br />

long-term business partnerships with our customers<br />

who have started cooperation with us.<br />

What is in your product portfolio?<br />

First of all, we carry out wholesale and retail sales<br />

of FORD Original Spare Parts and the industry’s<br />

recognized original aftermarket brands such as<br />


FAG, DELPHI, FTE, VISTEON, DAYCO etc., which<br />

constitute a significant part of our product portfolio.<br />

In addition, with our own brand “DGU Parts”, we are<br />

expanding our product range especially in the FORD<br />

passenger car and commercial segment.<br />

In addition, we provide spare parts for all passenger<br />

and commercial vehicle brands with reasonable prices,<br />

especially in line with the special demands of our<br />

foreign customers.<br />

What kind of remarkable feedback do you receive<br />

from your customers who use your products?<br />

The feedback from our customers is always positive,<br />

especially for our own brand and all other valuable<br />

commercial brands that we sell. Since the quality of<br />

the products is globally approved, there is no room<br />

for question marks. Rather, we receive very positive<br />

feedback from our customers for our reasonable price<br />

and quality service understanding.<br />


Are there any aspects that you are ahead of your<br />

competitors, and if so, what are they? Are there<br />

any issues such as quality, price, innovation,<br />

environmental awareness, after-sales service, etc.<br />

that you are ahead of?<br />

Since our competitors also sell the same products, our<br />

difference is that we realize our products in a way that<br />

stands out with reasonable prices and short shipment<br />

times.Thanks to our experienced staff in the sector in<br />

pre-sales and after-sales service and all service transfer<br />

issues, we maintain a long-term cooperation with our<br />

customers who have started cooperation with us.<br />

Could you tell us about your exports, current export<br />

markets and target markets?<br />

Our current export markets are Russia, Uzbekistan,<br />

Georgia, Georgia, England and North African countries.<br />

In line with our target markets, our negotiations<br />

continue for the European and Central Asian markets.<br />

How do you evaluate participating in fairs abroad?<br />

What are the fairs you have attended or plan to<br />

attend?<br />

We attach great importance to fair participation both<br />

abroad and domestically. We see it as an important<br />

platform for coming together and meeting with<br />

valuable business partners all over the world. We try to<br />

participate in all fairs in the Auto Spare Parts sector.<br />

Do you have anything to add about your company<br />

or your sector?<br />

As we mentioned above, with our understanding of<br />

quality service, it will continue to be our first priority<br />

to strengthen and grow our cooperation with our<br />

customers for many years and to strengthen our place<br />

in the market.<br />

Wholesale Operation Store<br />

<strong>March</strong> <strong>2024</strong><br />


Türkiye among top European electric car markets<br />

<strong>March</strong> <strong>2024</strong><br />

The upward trend in drivers seeking to go green helped<br />

Türkiye outpace many European countries in electric<br />

vehicle (EV) sales in 2023, in a momentum propelled by<br />

the nation’s first homegrown battery-powered car and<br />

the entry of several new brands.<br />

Sales of fully electric cars in Türkiye reached a record<br />

65,562 units throughout last year – an 844.4% yearover-year<br />

increase – according to the <strong>Automotive</strong><br />

Distributors and Mobility Association (ODMD). EVs<br />

accounted for 6.8% of the total sales, up from just<br />

1.2% in 2022.<br />

The figure means Türkiye left behind many EU member<br />

states such as Italy, Spain, Austria, Denmark and<br />

Finland, according to a report by Anadolu Agency.<br />

The rise has not been limited to fully electric cars,<br />

as their gasoline-electric hybrid rival also gained<br />

significant momentum and saw sales increase by<br />

62.8% to 104,804 units last year.<br />

The overall passenger car and light commercial vehicle<br />

market in Türkiye achieved a historic milestone as<br />

sales surpassed 1.2 million units in 2023, marking a<br />

57.4% year-over-year increase. The earlier annual alltime<br />

high stood at 984,000 units in 2016.<br />

According to ODMD data, passenger car sales<br />

increased by 63.2% throughout the year, reaching<br />

967,341 units, while the light commercial vehicle<br />

market saw a 39.2% increase, reaching 265,924 units.<br />

Sales of gasoline-fueled vehicles rose 58.1% to<br />

646,385 units. The combined sales of fully electric and<br />

hybrid cars reached 170,366, surpassing diesel car<br />

sales which totaled 133,374 units.<br />

The market share of gasoline cars dropped to 66.8%,<br />

from 69% in 2022. Diesel cars’ share declined from<br />

17.4% to 13.8%, while that of hybrid vehicles fell from<br />

10.9% to 10.8%.<br />

The record EV share was driven by the first homegrown<br />

brand Togg and the entry of new players like Tesla. The<br />

course of the year saw electric cars’ share in monthly<br />

sales surpass 10% in August, compared to just 2% in<br />

April.<br />

EV sales in December surged by 643% compared<br />

to the previous year, totaling 11,289 units, the data<br />

showed. In December alone, they comprised 9% of<br />

total car sales.<br />

Togg topped the list and delivered 19,583 of these,<br />

while Tesla, entering the market in April, achieved<br />

approximately 12,150 sales. Chinese automaker BYD,<br />

which started operations in Türkiye in November,<br />

delivered 839 units.<br />

Togg is currently producing a fully electric C-segment<br />


SUV. The brand launched the production of its T10X in<br />

October 2022 before it started deliveries in April a year<br />

later. It is due to unveil its sedan model at CES <strong>2024</strong>,<br />

the world’s largest technology trade show.<br />

According to ODMD data, the number of brands selling<br />

at least one electric model in Türkiye increased to 27<br />

as of October 2023, compared to less than 10 in 2021.<br />

The upward trend of EVs in the Turkish automotive<br />

market remains notably higher compared to European<br />

counterparts. Fully electric car sales in the EU<br />

increased by 48.2% year-over-year from January<br />

through November 2023, reaching 1.37 million units,<br />

according to the data released by the European<br />

Automobile Manufacturers’ Association (ACEA).<br />

Italy saw 59,462 sales, Spain 45,716, Denmark 52,886,<br />

and Finland 27,435. Germany led the 27-member EU<br />

with 469,565 units, followed by France with 260,864<br />

and the Netherlands with 103,330 units.<br />

Sweden ranked fourth with 100,698 sales, and Belgium<br />

came in fifth with 86,823.<br />

The 11-month sales in Türkiye totaled 54,273 units,<br />

making it rank seventh in Europe just after Italy.<br />

<strong>March</strong> <strong>2024</strong><br />


Everrati completes cold weather testing of<br />

electric land rover series ahead of delivery<br />

of first us commissioned model<br />

<strong>March</strong> <strong>2024</strong><br />

While the new vehicle will spend most of its life in a<br />

much more temperate area of North America, it has<br />

been fully signed-off by Everrati’s expert engineering<br />

team as part of an intensive cold weather programme<br />

in Vermont, New England, further underlining the<br />

company’s application of OEM-grade standards to the<br />

design, engineering, and quality of its products.<br />

Over recent months, the first US commissioned Series<br />

IIA has undergone a rigorous validation programme,<br />

covering all components, with particular focus paid to<br />

the performance and reliability of its state-of-the-art<br />

OEM-grade electric powertrain. Encompassing high<br />

altitudes and cold weather, such as snow and extreme<br />

low temperatures, Everrati’s team ensured high-voltage<br />

reliability and tested charging functionality. Alongside<br />

hot weather testing, the team has now validated the<br />

vehicle for all climates.<br />

Meticulously redefined as a cutting-edge EV, offering<br />

a unique blend of heritage, luxury and sustainability,<br />

every Series IIA commission is first fully restored from<br />

the ground up, with Everrati then integrating its own<br />

e-powertrain, designed, and developed at its global<br />

headquarters in Upper Heyford, Oxfordshire, England.<br />

The result is a fully futureproofed vehicle fit for the 21st<br />

century which can drive in near silence and emissionfree<br />

in any city across the globe.<br />

Completing cold weather test in the US is the latest<br />

example of how Everrati is setting new standards, its<br />

Series IIA already passing electric vehicle safety testing<br />

in 2022, achieving UN-ECE R100.01 at the Netherlands<br />

Vehicle Authority – RDW, the only electrified classic of<br />

its type to do so in the world.<br />

Justin Lunny, Co-Founder and CEO of Everrati said:<br />

“Everrati’s OEM-grade engineering, design, and quality<br />

processes continue to raise the bar in the electrified<br />

classic sector. The Land Rover Series, like all our<br />

models, represents the pinnacle of zero-emission icons<br />

and this latest example of our OEM-grade approach<br />

just underlines how we are going the extra mile in this<br />

rapidly growing market.<br />

“Our redefined Land Rover Series IIA combines<br />

a complete restoration with the integration of our<br />

proprietary OEM-level electric powertrain, preserving<br />

the vehicle’s legacy and enabling it to be enjoyed by<br />

generations to come. I can’t wait for us to hand over<br />

this first US customer commission to its new owner,<br />

who can be sure they are receiving the ultimate in<br />

redefined icons.”<br />

With a 60kWh battery and 150bhp and 300 Nm from its<br />

electric motors, Everrati’s Land Rover Series IIA offers<br />

both two-wheel drive and four-wheel drive modes<br />

and a range of up to 150 miles, almost identical to its<br />

combustion-engined past, combined with regenerative<br />

braking, AC and DC fast charging capability. The<br />

company now offers its Land Rover Series builds both<br />

88” and 109”, and multiple roof configurations.<br />

Combined with the very latest in sustainable luxury<br />

materials, including the world’s lowest carbon leather<br />

for the automotive industry from leading leather<br />

manufacturer, Bridge of Weir, it further highlights<br />

Everrati’s overall mission for sustainable luxury.<br />

The development of Everrati’s leading powertrain<br />

technology is supported by a robust network of<br />

extremely experienced and best-in-class partners and<br />

suppliers to deliver OEM-grade products, processes,<br />

and quality. Everrati’s leading portfolio of redefined<br />

automotive icons includes electric versions of the<br />

Porsche 911 (964) Coupe, Targa, Cabriolet and RSRinspired<br />

edition, G-Series based ST-inspired edition,<br />

Range Rover Classic, Land Rover Defender, Land<br />

Rover Series, GT40, and Mercedes-Benz W113 SL<br />

‘Pagoda’.<br />


Toyota plant raided amid probe<br />

into world’s top-selling carmaker<br />

<strong>March</strong> <strong>2024</strong><br />

Japanese transport officials raided a Toyota-affiliated<br />

plant after the company admitted to cheating on<br />

engine testing, as the firm reported it maintained its<br />

status as the world’s top automaker in 2023, selling<br />

11.2 million vehicles.<br />

Hours after the probe began at Toyota Industries<br />

Corp.’s plant in Hekinan, Aichi Prefecture, central<br />

Japan, Toyota Chairperson Akio Toyoda vowed to steer<br />

the company out of scandal and ensure the Japanese<br />

automaker sticks to “making good cars.”<br />

“My job is to steer the way for where the overall group<br />

should go,” Toyoda said. He apologized, bowing<br />

deeply and stressed the group vision was rooted in<br />

the Toyoda founding family’s ideas of empowering the<br />

“genba,” or the workers on the plant floor, “to make<br />

good cars that lead to people’s happiness.”<br />

The testing scandal comes at a time of otherwise<br />

stellar performance for Toyota, which makes the<br />

Camry sedan, Prius hybrid and Lexus luxury models.<br />

Its group global vehicle sales for 2023 were a record<br />

11.22 million units, up 7% from the previous year and<br />

topping Volkswagen AG Germany’s global sales of 9.2<br />

million vehicles.<br />

Toyoda spoke in a news conference that was livestreamed<br />

from a memorial hall in Nagoya that serves<br />

as a museum for the founding family.<br />

Sakichi Toyoda invented the automated weaving loom.<br />

His son Kiichiro Toyoda, Akio’s grandfather, founded<br />

Toyota Motor Corp.<br />

Reporters were called to Toyota’s Tokyo office, where<br />

its CEO Koji Sato, who succeeded Toyoda, apologized<br />


for the latest mess: flawed testing at Toyota Industries<br />

Corp., which makes diesel engines.<br />

That followed the discovery by a whistleblower that<br />

Daihatsu Motor Corp. had been cheating on its testing<br />

for decades. Daihatsu makes small cars and is 100%<br />

owned by Toyota.<br />

Officials from the Ministry of Land, Infrastructure,<br />

Transport and Tourism enter Toyota Industries’ Hekinan<br />

factory for an inspection in Hekinan, Aichi Prefecture,<br />

Japan, Jan. 30, <strong>2024</strong>. (AFP Photo)<br />

In 2022, Hino Motors, a truck maker that’s also part of<br />

the Toyota group, said it had systematically falsified<br />

emissions data dating back as far as 2003.<br />

No major accidents have been reported in connection<br />

with any of the cheating. But production has been<br />

halted on some of the models, including the 10 models<br />

affected by the latest cheating.<br />

Japan’s business daily Nikkei reported the alleged<br />

violations at Toyota Industries occurred because<br />

management would not listen to workers who had<br />

questioned an overly aggressive development plan for<br />

engines.<br />

Sato has acknowledged that Toyota group companies<br />

need better communication and education about<br />

complying with rules. The latest problem affects<br />

models including Land Cruiser and Hilux sport utility<br />

vehicles sold in Japan, Europe, the Middle East, Africa<br />

and Asia, but not in North America.<br />

In an unrelated quality problem, Toyota and General<br />

Motors Co. told owners of about 61,000 older Corolla,<br />

Matrix, RAV4 and Pontiac Vibe models, mostly in the<br />

United States, to stop driving them because their<br />

Takata airbag inflators are at risk of exploding and<br />

hurling shrapnel.<br />

The urgent warning covers certain Corolla compact<br />

cars and Matrix hatchbacks from the 2003 and 2004<br />

model years, as well as the RAV4 small SUV from 2004<br />

and 2005. Also covered are about 11,000 Pontiac<br />

Vibes from 2003 and 2004, which are essentially<br />

the same as the Matrix and were made at the same<br />

California factory. Missteps at automakers often are<br />

related to pressures to bring down costs, said Daisuke<br />

Uchida, a professor at Keio University who specializes<br />

in corporate governance.<br />

“Something may have gotten lost in translation in<br />

the communication between management and those<br />

working on the ground,” Uchida said.<br />

Analysts say the impact on Toyota’s earnings from<br />

the group companies’ problems is likely to be limited<br />

because their sales and profits are a small fraction<br />

of Toyota’s overall global earnings. Toyoda did not<br />

present a concrete plan for action but instead mused<br />

on the humble roots of his family business and the<br />

importance of believing in invention. Toyota has<br />

weathered turbulent times in the past, he said.<br />

“We must never lose sight of where we all began.”<br />

<strong>March</strong> <strong>2024</strong><br />


Türkiye hails $100B services export mark,<br />

narrowing current account gap<br />

<strong>March</strong> <strong>2024</strong><br />

Trade Minister Ömer Bolat hailed the fact that Türkiye<br />

managed to exceed the $100 billion mark in services<br />

exports for the first time ever in 2023, as he noted an<br />

improvement in the country’s current account balance<br />

due to the narrowing trade gap.<br />

Bolat’s remarks came a day after the balance-ofpayments<br />

data published on Tuesday showed the<br />

country’s current account balance ended 2023 with a<br />

lower-than-expected deficit of nearly $2.1 billion (TL<br />

64.52 billion) in December.<br />

The shortfall in 2023 as a whole came in at $45.2<br />

billion, according to the data by the Central Bank of the<br />

Republic of Türkiye (CBRT).<br />

Bolat attributed the improvement in the balance to a<br />

decrease in the trade deficit as of the second half of<br />

last year. The current account is the most complete<br />

measure of trade because it includes investment<br />

flows and trade in merchandise and services. A deficit<br />

means Türkiye is consuming more from overseas than<br />

it is selling abroad. Narrowing the gap and reaching<br />

a surplus were among the main goals of President<br />

Recep Tayyip Erdoğan’s economic plan in recent years.<br />

However, sharply rising oil, gas and grain prices after<br />

Russia’s invasion of Ukraine caused it to widen until<br />

mid-2023.The deficit surged from $7.2 billion in 2021 to<br />

$48.8 billion in 2022.<br />

“Service exports have reached the $100 billion<br />

mark for the first time. There has been a significant<br />

improvement in the current account balance due to<br />

the decrease in the trade deficit in the second half of<br />

2023,” Bolat wrote on social media platform X, formerly<br />

known as Twitter.<br />

“It is expected that the decline in the current account<br />

deficit will continue in <strong>2024</strong>,” Bolat said.<br />

Analysts also described the latest data as a significant<br />

improvement that is likely to continue this year,<br />

propelled by a decrease in the trade gap and an<br />

increase in tourism revenues.<br />

Bolat said the shortfall declined by $14.9 billion from<br />

$60.1 billion in May, highlighting a positive trend in<br />

the annualized current account deficit since last July,<br />

as Türkiye reversed its policy sharply and delivered<br />

aggressive interest rate hikes.<br />

The shift is aimed at taming inflation, which runs at<br />

nearly 65%, reducing chronic deficits, rebuilding<br />

foreign exchange reserves, and stabilizing the Turkish<br />

lira. Bolat cited the impact of a 43.2% decline in the<br />

foreign trade gap to $4.6 billion in December. He also<br />

noted that travel revenues, which fall under services,<br />

renewed their record to reach $48 billion.<br />

“In line with the export strategies we have implemented<br />

and the support we provide to increase both goods<br />

and service exports, as well as our import policies<br />

aimed at protecting domestic producers against unfair<br />

competition, we continue our efforts in collaboration<br />

with our stakeholders to ensure the sustainability of<br />

the positive trend observed in the current account<br />

balance,” said the minister.<br />

“Our goal is to strengthen the necessary<br />

macroeconomic stability for permanent improvement in<br />

the current account balance and sustainable increase<br />

in prosperity.”<br />

The 2023 deficit amounted to 4.1%-4.2% of gross<br />

domestic product (GDP), down from 5.4% a year<br />

earlier. The government’s medium-term program,<br />

announced in September, forecasts a gap of $34.7<br />

billion by the end of <strong>2024</strong>. The deficit-to-GDP ratio is<br />

projected to fall to 3%.<br />


Turkish automotive industry<br />

kicks off <strong>2024</strong> with record exports<br />

<strong>March</strong> <strong>2024</strong><br />

The Turkish automotive industry kicked off the new<br />

year achieving its highest January export with nearly<br />

$2.78 billion (TL 85.6 billion), a 2.5% rise when<br />

compared to the same month a year ago, data from<br />

the Uludağ <strong>Automotive</strong> Industry Exporters’ Association<br />

(OIB) showed.<br />

The share of the sector, which holds the top position<br />

in the country’s exports, accounted for 16.2% of all<br />

shipments realized.<br />

In January, the highest external sales, with a 3% surge<br />

compared to the same month a year earlier, amounted<br />

to $1.17 billion in the “supply industry” product group.<br />

Exports of passenger cars decreased by 13% to<br />

$772.89 million while exports of motor vehicles for<br />

the transport of goods increased by 27% to $504.66<br />

million. At the same time, exports in bus-minibusmidibus<br />

exports rose by 61% to $160.7 million while<br />

tractor exports dove by 10% to $139.89 million.<br />

The country’s overall exports last month hit a record<br />

level for January with $20.03 billion, increasing by<br />

3.6% on a yearly basis, the trade minister announced.<br />

In January, the largest market of the Turkish automotive<br />

sector was Germany with exports at $417 million. It<br />

was followed by the United Kingdom at $333 million,<br />

showing an increase of 11% year-over-year.<br />

Exports to France, the third largest market saw a<br />

decline of 4% to $272 million, according to the data.<br />

Last month, significant export increases were recorded<br />

for Italy (31%), Slovenia (19%), Romania (19%),<br />

Morocco (39%), Portugal (41%) and Algeria (424%).<br />

Meanwhile, an increase of 1% was observed in exports<br />

to EU countries in the same period, respectively.<br />

Exports to the European Union, which took the lead in<br />

the country group with a 67.5% share in total exports<br />

surged slightly to $1.87 billion. At the same time,<br />

exports in the group classified as “other European<br />

countries,” picked up by 12%, while exports to Africa<br />

were up by 35%.<br />

“We reached the highest January export in the history<br />

of the sector at the beginning of the year,” said Baran<br />

Çelik, chairperson of the OIB board of directors.<br />

“Exports of motor vehicles for the transport of goods<br />

and buses-minibuses-midibuses increased by double<br />

digits. We recorded high percentage increases in Italy,<br />

Slovenia and Romania,” he said.<br />

While the automotive sector’s exports posted<br />

significant overall increases, the recent industry data<br />

indicated that vehicle sales also remained strong in<br />

January, adding to momentum observed throughout<br />

last year.<br />

Nearly 80,000 passenger cars and light commercial<br />

vehicles were sold across the country last month,<br />

marking a 56.6% year-over-year rise, the data from<br />

the <strong>Automotive</strong> Distributors’ and Mobility Association<br />

(ODMD) showed.<br />

Passenger car sales surged 71.7% annually to<br />

64,041 in January, while the light commercial market<br />

expanded by 15.1% from a year earlier with 15,660<br />

units sold.<br />

Nearly 10,206 hybrid cars and 3,973 electric cars were<br />

sold in Türkiye in the first month of <strong>2024</strong>, making 16%<br />

and 6.2% of total automobile sales, respectively.<br />


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