Automotive Ekports May 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 />

Automechanika Istanbul full speed!<br />

Turkish automotive industry, with its vehicles and components manufacturing<br />

sub-sectors, is one of the major exporting industries of the Turkish economy.<br />

As noted earlier in this column, the autoparts industry of Türkiye has developed<br />

rapidly as a consequence of developments in the automotive industry. The<br />

autoparts industry with its large capacity, wide variety of production and high<br />

standards, supports automotive industry production and the vehicles in Türkiye<br />

and also has ample potential for additional exports. Business people operating in<br />

the industry have become outward oriented more than ever before.<br />

These companies not only dominate the primary supply markets but also capture<br />

an increasing share of the replacement market. Their continued success in<br />

exports markets depend on close technical links with part makers in industrialised<br />

countries and the willingness of their foreign partners to integrate their Turkish<br />

counterparts into their production-distribution networks as regular suppliers of<br />

high quality, low-cost components.<br />

Türkiye’s autoparts industry exports are increasing steadily year by year. Türkiye<br />

is the only country within the surrounding geographical area to have established<br />

a well-advanced automotive industry. Therefore, the automotive industry is<br />

strategically important both for Türkiye and for firms that will invest in Türkiye.<br />

We think that technology will always be the key for the survival of the automotive<br />

industry. History says so.<br />

This month, we participate in Automechanika Istanbul <strong>2024</strong> to convey the<br />

message of the Turkish automotive and auto spare part exporters. The stars of the<br />

automotive world will be meeting at the Fair as usual.<br />

Automechanika Istanbul <strong>2024</strong>, showcasing the latest global trends, has turned<br />

out to be a remarkable automotive aftermarket platform globally. The Fair<br />

which covers the full range of automobile, truck and bus parts, equipment,<br />

components, accessories, tools, and services continues to bring world renowned<br />

manufacturers, suppliers and service providers in touch with one of the most<br />

important growing markets in the world.<br />

The markets targeted by the Fair are widely recognised as the most attractive in<br />

the world in terms of future potential for business opportunities.<br />

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

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

We wish lucrative business for all participants.<br />

automotiveexport<br />

EDİToR<br />


Auto sales increase 6 percent in March<br />

<strong>May</strong> <strong>2024</strong><br />

A total of 109,828 passenger cars and light commercial<br />

vehicles were sold in Türkiye in March, marking a<br />

5.7 percent increase from a year ago, data from the<br />

<strong>Automotive</strong> Distributors’ and Mobility Association<br />

(ODMD) have shown.<br />

The passenger car market expanded by 9.9 percent<br />

year-on-year as sales amounted to 87,071 units. The<br />

annual rise in sales slowed from 72 percent in January<br />

and 40 percent in February. But more passenger cars<br />

were sold last month than in January and February.<br />

Light commercial vehicle sales, however, plunged 7.9<br />

percent from March 2023 to 22,757.<br />

Last month, 6,784 electric vehicles (EVs) were sold in<br />

Türkiye, pointing to a 209 percent year-on-year. The<br />

share of EVs in total vehicle sales was 7.8 percent,<br />

according to the numbers of the association.<br />

The EV market grew nearly 255 percent in the first<br />

quarter of <strong>2024</strong> compared to the January-March period<br />

of last year. In the quarter, a total of 16,556 EVs were<br />

sold in the country, capturing a 7.1 percent share in<br />

total vehicle sales.<br />

The combined sales of passenger cars and light<br />

commercial vehicles increased by 25.2 percent in the<br />

first three months of <strong>2024</strong> to 295,519 units, according<br />

to ODMD data.<br />

The passenger car market grew more than 33 percent<br />

with sales reaching 233,389 units.<br />

The annual increase in light commercial vehicle sales<br />

was only 2.6 percent to 62,130, according to the data.<br />


CEO expects Togg to become profitable by 2027<br />

April <strong>2024</strong><br />

12<br />

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

may become profitable as early as 2027, its CEO<br />

Gürcan Karakaş has said.<br />

“We started selling cars in 2023. So, to reach<br />

profitability, I think it will take four to five years from<br />

that point,” Karakaş told <strong>Automotive</strong> News Europe in<br />

an interview.<br />

Togg delivered 19,583 vehicles last year, according to<br />

data from the <strong>Automotive</strong> Distributors’ and Mobility<br />

Association. EV sales in Türkiye leaped 833 percent in<br />

2023 from 2022 to 72,179 units.<br />

“Based on an analysis of the market that we did with<br />

Boston Consulting, the conclusion was that by 2032,<br />

give or take two years, the profitability structure will<br />

shift to a 50-50 mix for digital services and car sales,”<br />

Karakaş said.<br />

Now, the stress they face is increasing production to<br />

meet demand, but it will take time because they didn’t<br />

expect to reach that level of output at their plant near<br />

Istanbul for four to five years, he added.<br />

Karakaş said that their business plan until 2032 doesn’t<br />

include launching in the U.S. or China.<br />

“However, since we have seen good progress,<br />

we could be in a position to surpass the<br />

175,000-production capacity at our plant earlier than<br />

expected. We think that with demand at 350,000, we<br />

would still primarily be in the European space.”<br />

If demand goes beyond 500,000 or 600,000 then they<br />

would need to look at additional markets, Karakaş<br />

said. The CEO also noted that Togg is not aiming to<br />

offer a 20,000-euro EV.<br />

“If you want to have something that is state of the<br />

art when it comes to the battery, connectivity, safety,<br />

cybersecurity and the electric architecture, that already<br />

costs more than 20,000 euros,” he said.<br />

Togg’s third car will be smaller than the first two, and<br />

it will be less expensive, but it will not be priced at<br />

20,000 euros, Karakaş added.

Car sales hit 300,000 in first quarter of <strong>2024</strong><br />

<strong>May</strong> <strong>2024</strong><br />

The combined sales of passenger cars and light<br />

commercial vehicles will likely reach a quarterly record<br />

of 300,000 in the January-March period, according to<br />

representatives of the auto industry.<br />

In March alone vehicle sales could reach some 120,000<br />

units, they said.<br />

In the first two months of <strong>2024</strong>, the auto market<br />

expanded by 41 percent from a year ago as a total of<br />

186,000 vehicles were sold.<br />

Passenger car sales grew more than 52 percent<br />

annually to 146,318, while the year-on-year increase in<br />

light commercial vehicles was 9.8 percent to 39,343,<br />

according to the latest data from the <strong>Automotive</strong><br />

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

Consumers rushed to dealers to buy cars before the<br />

local elections, anticipating that the government may<br />

resort to further monetary tightening, which could<br />

lead to higher loan rates. Potential buyers expect<br />

hikes in the prices of brand new and used cars for the<br />

remainder of the year, which gave a boost to sales<br />

during the first quarter. Sales in March were strong due<br />

to demand from disabled individuals, who wanted to<br />

benefit from the special consumption tax exemptions<br />

on cars and purchases by rental companies, according<br />

to experts.<br />

In March, almost four out of 10 cars were sold to<br />

individuals who provided medical reports showing that<br />

they have disabilities. Meanwhile car dealers offered<br />

discounts of up to 10 percent, ahead of the elections.<br />

Experts, however, differ on the outlook in the car<br />

market in <strong>2024</strong> with some forecasting a 30 to 35<br />

percent contraction in sales this year.<br />

Last year, a record 1.23 million passenger cars and<br />

light commercial vehicles were sold in Türkiye.<br />

However, representatives of Stellantis Group in Türkiye<br />

are more optimistic about the prospects.<br />

They forecast total vehicles sales at 1.1 million units<br />

this year.<br />


Turkish automotive production<br />

expands, exports remain strong<br />

<strong>Automotive</strong> production in Türkiye expanded in the first<br />

quarter of the year with exports from the sector also<br />

maintaining upward momentum, the industry data<br />

showed. The total automotive production in the first<br />

three months of the year surged by 3% compared to<br />

the same period last year, reaching 377,070 units, the<br />

data from the <strong>Automotive</strong> Manufacturers Association<br />

(OSD) revealed.<br />

Accordingly, automobile production saw a 7% increase<br />

year-over-year, reaching 238,274 units. Together with<br />

tractor production, total production was realized at<br />

390,925 units. Commercial vehicle production in<br />

the first quarter of the year dropped by 4% versus<br />

the same period last year, while there was a 5%<br />

decrease in the light commercial vehicle group and a<br />

1% increase in the heavy commercial vehicle group,<br />

respectively. During this period, the capacity utilization<br />

rate of the automotive industry was 77%.<br />

Exports on rise Meanwhile, the data also showed that<br />

the automotive exports rose 1% on the quantity basis<br />

in the first quarter of <strong>2024</strong>, when compared to the<br />

same period last year, to 256,511 units.<br />

During the period there was a fall of 2% in automobile<br />

exports versus the first quarter of a year earlier, while<br />

the commercial vehicle exports were up by 5% yearover-year<br />

in January-March.<br />

Tractor exports dropped by 13% compared to the<br />

same period in 2023, at 4,562 units.<br />

Overall, total automotive industry exports maintained<br />

its top position in the sectoral export ranking with a<br />

14% in the first quarter of the year, according to the<br />

data from the Turkish Exporters Assembly (TIM).<br />

The exports from the automotive industry stood at<br />

$9.2 billion in the first three months of the year, up 5%<br />

year-over-year, the data from the Uludağ Exporters’<br />

Associations (UIB) data showed.<br />

In the January-March period, the total market grew by<br />

24% compared to the same period last year, reaching<br />

307,461 units. During this period, the automobile<br />

market also reached 233,389 units, with a 33%<br />

increase. Looking at the commercial vehicle market,<br />

there was a 2% increase in the total commercial<br />

vehicle market compared to the same period last year,<br />

a 3% growth in the light commercial vehicle market<br />

and a 1% decrease in the heavy commercial vehicle<br />

market.<br />

<strong>May</strong> <strong>2024</strong><br />


European car market contracts<br />

in March, EVs share slips<br />

<strong>May</strong> <strong>2024</strong><br />

The European car market experienced its first decline<br />

of the year in March, with the share of electric cars<br />

falling below last year’s levels, according to official data<br />

released. Some 1.03 million new passenger cars were<br />

registered last month in the European Union, down<br />

5.2% from a year earlier, the European Automobile<br />

Manufacturers Association (ACEA) said in its monthly<br />

report, citing the impact of early Easter holidays<br />

and a market downturn. According to the ACEA, car<br />

registrations fell in March by 6.2% yearly in Germany,<br />

4.7% in Spain, 3.7% in Italy and 1.5% in France,<br />

reflecting contraction in the four largest markets. For<br />

the first three months of the year, registrations are up<br />

4.4% from the year-ago period. The strongest quarterly<br />

growth was in France and Italy, which saw registrations<br />

rise by 5.7%, while they were up by 4.2% in Germany<br />

and 3.1% in Spain. Even though Europe plans to ban<br />

the sale of new internal combustion engine cars by<br />

2035, sales of electric cars have stalled in the past few<br />

months. EV sales growth has slowed, and investment<br />

in capacity and technology development has outrun<br />

demand as many prospective buyers are deterred by<br />

cost and continuing doubts about infrastructure.<br />

Only 13% of new registrations in March were electric,<br />

up slightly from 12% in February but down from 14.6%<br />

for all of last year.<br />

In Germany alone, registrations of electric cars fell by<br />

28.9%. On the other hand, hybrid cars accounted for<br />

29% of the market in March, up from 24.4% in March a<br />

year ago. The Volkswagen group, which also includes<br />

Audi and Skoda, remained the largest seller of cars<br />

in Europe, though its share of the market shrank 0.8<br />

points to 24.9%.<br />

Stellantis (Peugeot, Citroen, Fiat) also lost 0.4 points to<br />

18.9%. Among gainers, hybrid-specialist Toyota saw<br />

its share jump 1.1 points to 8.1%.<br />

The number of new vehicles registered in March in the<br />

EU, Britain and the European Free Trade Association<br />

(EFTA) fell by 2.8% to 1,383,410 vehicles, despite a<br />

10.4% increase in Britain, the ACEA data showed.<br />


Türkiye’s Vestel unveils new<br />

mobility unit, sets sights on growth<br />

Turkish home and professional appliances<br />

manufacturing company, Vestel, which specializes<br />

in electronics, unveiled its new startup unit “Vestel<br />

Mobilite,” which unites all mobility and energy storage<br />

projects, run on substantial investments throughout the<br />

last 10 years, under a single umbrella organization.<br />

The new company for the production of electric vehicle<br />

(EV) charging stations, energy storage systems and<br />

automotive electronics was introduced at a news<br />

conference attended by Vestel CEO Ergun Güler.<br />

The company aims to turn its newly founded mobility<br />

and energy storage unit into at least a $1 billion (TL 32<br />

billion) business in three years, according to Güler.<br />

In his keynote speech, Güler introduced Vestel<br />

Mobilite as a newly established entity that represents a<br />

divergence from the parent company’s traditional focus<br />

on the production of white goods and electronics.<br />

Traditionally a consumer electronics and durable goods<br />

manufacturer, Vestel branched into auto electronics<br />

and display systems through its partnership with the<br />

country’s first electric vehicle producer Togg, the best<br />

seller in the local market.<br />

With the global-scale paradigm shift toward electric<br />

vehicles, Güler said the company aims to align with<br />

this trend and participate more in this market.<br />

Vestel CEO Ergun Güler, Istanbul, Türkiye, April 4,<br />

<strong>2024</strong>. The company’s interest in this sector has<br />

extended to a 23% stake in Togg, the Turkish EV<br />

manufacturer headquartered in the country’s northern<br />

Kocaeli province and founded in 2018 by a joint<br />

venture of five Turkish companies.<br />

Vestel intends to work on the software and technology<br />

for the in-car screens, or what he calls “the computers<br />

<strong>May</strong> <strong>2024</strong><br />


<strong>May</strong> <strong>2024</strong><br />

of the cars,” which Vestel already manufactures and<br />

supplies. According to Güler, the company’s ultimate<br />

goal is to develop its role as one of the most important<br />

players in EV charging stations, with a larger global<br />

share in this field.<br />

He also pointed out that by 2030, electric vehicles are<br />

expected to reach a 45% share of overall global vehicle<br />

sales, subsequently producing significant opportunities<br />

in automotive electronics with an increasing demand<br />

for EV charging stations.<br />

He described the company’s ambitious goal to<br />

establish itself as a leader in technology in Türkiye with<br />

the hope of obtaining a ranking in the Fortune Global<br />

500, an annual ranking of the top 500 companies<br />

globally based on revenue.<br />

As part of its new growth strategy, Vestel aims to<br />

grow “exponentially” in its newly founded mobility<br />

unit, hitting either $1 billion in revenue or market<br />

capitalization in three years, Reuters quoted Güler as<br />

saying.<br />

“We are open to all collaboration or partnerships,”<br />

he said. Vestel Mobilite will operate in Europe, the<br />

Middle East and North Africa (MENA) – markets worth<br />

a collective $580 billion – focusing on EV components,<br />

charging stations and large-scale electricity storage<br />

systems.<br />

Vestel also signed a non-binding agreement with<br />

China’s Shenzhen Desay Battery Technology Ltd.<br />

to design and assemble commercial-scale battery<br />

modules in Türkiye, Vestel Mobility’s head Hakan<br />

Kutlu said. The company will consider an initial public<br />

offering (IPO) once operations are mature, Kutlu said,<br />

without elaborating.<br />

Battery production capacity is expected to begin at 2<br />

gigawatts (GW) per annum, with sales initially geared to<br />

local hybrid power plants, where electricity storage is<br />

integrated into renewable energy plants.<br />

Vestel has produced electric charging stations for the<br />

past seven years, exporting to more than 30 countries,<br />

including Poland, Spain, Italy and Greece.<br />

Its portfolio consists of charging units capable of<br />

charging from 60 kilowatts to 720 kilowatts, but<br />

Güler said 1,000 kilowatt units would hit the market<br />

in January 2025.The company is on a fast track with<br />

its R&D, production, sales and marketing teams and<br />

has a presence not only in Türkiye but also in the<br />

Netherlands, the Far East and India.<br />

Parent company Vestel aims to double its core<br />

electronics and durable goods revenue over the next<br />

three years from around $4 billion currently, Güler<br />

said. The company has not yet released its end-2023<br />

financials.<br />


Kaya Plastic <strong>Automotive</strong> always gears<br />

up in the automotive aftermarket industry<br />

It works according to the domestic and international market needs and trends. It has a fame<br />

to run from one project to another to keep up with the ever-changing market needs.<br />

without products. That’s why we are very happy and<br />

proud. As a company, we are constantly experiencing<br />

growth both in the physical workplace, in product<br />

diversity, and in terms of customers and turnover. Our<br />

greatest mission is to constantly conduct research and<br />

continue looking forward.<br />

<strong>May</strong> <strong>2024</strong><br />

Kaya Plastic <strong>Automotive</strong> has a very rich product<br />

portfolio and it a highly dynamic brand chasing after<br />

new developments. We spoke with Aydın Kaya,<br />

Assistant General Manager, and Nurşen Kaya, Manager<br />

of Export Division about their success story.<br />

Could you briefly introduce yourself and your<br />

company?<br />

KAYA PLASTIC AUTOMOTIVE is a family company<br />

whose foundations were laid in 1978. Our company<br />

has worked and continues to work in line with its own<br />

goals and objectives every year since the day it was<br />

founded. The main aim of our company is to produce<br />

and sell the best that can be done in its work. At this<br />

point, we are witnessing these in terms of quality<br />

and customer satisfaction. Our advantages in many<br />

points such as product diversity, close relations with<br />

customers, continuity and problem solving have carried<br />

us to this day and contributed to our deep-rooted<br />

connections. Even during the pandemic period, while<br />

many companies were temporarily or permanently<br />

closed, we constantly produced and shipped in our<br />

company so that our customers would not be left<br />

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

prominent factors in these products? What kind of<br />

work do you do on product development and R&D?<br />

Our product range includes nearly 600 products and<br />

more than 800 molds, which have been accumulated<br />

over the years. When choosing our products, we<br />

work according to the needs of the markets, both<br />

domestic and international needs and trends. Our<br />

product portfolio includes many products such as<br />

Rear fog lights, Radiators and Water tanks, Gear<br />

knobs, Oil bars, Fender signals, Glovebox covers,<br />

Fog light frames, Seat adjustment handles, Ceiling<br />

lights, Trunk release buttons, License plate lights.<br />

We are a company that constantly works on product<br />

development. We are constantly improving how we<br />

can produce our products better and ship them as<br />

needed. We constantly receive appreciation and<br />

positive feedback from our customers in this regard.<br />

We are a company that constantly continues to work<br />

with new projects. What draws attention in the diversity<br />

of our products is that we create a range according<br />

to the needs of customers in each continent. In other<br />

words, while we generally protect and develop spare<br />

parts for old model vehicles for North African countries<br />

and Eastern Anatolia, we try to produce and develop<br />

new model vehicle parts for European markets. This<br />

requires working for the needs of each continent<br />

and market, and also requires having a wide range.<br />

Otherwise, you cannot meet the need. Our biggest<br />

difference at this point and the main reason why we<br />

are ahead of our competitors is that there are many<br />

different products in our product groups that we group<br />

within their own range without being captured from<br />

a single point. While this makes you unique on the<br />

one hand, it also causes you to compete in different<br />

products rather than just one type of product.<br />


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

your competitors?<br />

I think our biggest difference and superiority, as a<br />

company that has completed 44 years in the sector, is<br />

primarily having the power and relationships to ensure<br />

continuity. . Of course, to be able to do this requires<br />

strong insight, solid analysis ability, creating customer<br />

satisfaction, problem-solving skills, being innovative,<br />

competitive price, reliable, loving your job, and always<br />

looking forward, respecting our business, our suppliers<br />

and customers, and doing good needs analysis. We<br />

think that these are our most important differences<br />

and that we love our job, producing and serving. We<br />

increase our production and product diversity by<br />

observing the momentum of each competitor and<br />

evaluating possible situations. In fact, in a way, what<br />

makes us different from others is doing what has not<br />

been done before. We do not prefer to open a döner<br />

restaurant next to a döner restaurant just because it<br />

sells a lot. Everyone’s job and destiny is different. We<br />

prefer to open a pita restaurant to add variety to the<br />

döner restaurant and not to undermine the winner.<br />

Products that are difficult to make and difficult to<br />

produce are especially our business. We have always<br />

been, and still are, a company whose ideas are taken,<br />

followed and copied in the industry. All of this, of<br />

course, stems from years of experience and the fact<br />

that we carry many features together. If some of our<br />

customers want to work with us, sell and promote our<br />

products, but do not prefer that manufacturer, even<br />

though our prices for some products are a little higher<br />

than the other competitor’s, all we have to do here is to<br />

be rightfully proud. This means that we are on the right<br />

track in many issues and we think it is necessary to<br />

continue this.<br />

Do you have any investments planned in the short,<br />

medium and long term?<br />

Yes, we have different investment plans both<br />

domestically and internationally. In particular,<br />

companies that want to use know-how from abroad<br />

and seek partnerships are increasing. We will be here<br />

with new surprises and good developments in the<br />

coming days. We have investment ideas in many new<br />

areas, both domestically and internationally, and we<br />

will try to implement them as soon as possible. As<br />

a company that is talked about and followed in the<br />

sector, you will definitely be aware of this. Our motto is;<br />

When you stop, you fall, we will continue running.<br />

Can you give details about your exports?<br />

Your current and target markets, international<br />

promotion, participation in fairs, etc. What would<br />

you like to say about your strategies?<br />

We like to much working as an export company.<br />

In this context, it makes us very happy to provide<br />

employment and to see that our products are sold<br />

in various markets and are in constant demand. Our<br />

overseas customers like us very much because of<br />

the quality of our products, our company stance<br />

and our competitive attitude. We strive to serve and<br />

respond to the needs of different markets and further<br />

increase our exports. Our products are in demand in<br />

various countries on 5 of the 7 continents. We see our<br />

products directly and indirectly in these countries. We<br />

are pleased to see our own products even in a market<br />

and customer where we do not sell directly. We are a<br />

company that continues to produce and export with a<br />

portfolio of dozens of customers in 28 countries on 5<br />

continents.<br />

We like using both domestic and international fairs<br />

every year for export. It gives us pleasure to listen<br />

to our existing and new prospective customers and<br />

update ourselves. We targeted 5 different fairs in<br />

<strong>2024</strong> and started working on them. Fairs we will<br />

attend this year: Automechanika Istanbul held in<br />

Tüyap, Latin Parts Panama, Automechanika Moscow,<br />

Automechanika Frankfurt and Expo Cairo-Egypt fairs.<br />

Is there any issue or issues you would like to<br />

particularly emphasize?<br />

We work to protect and continuously improve existing<br />

products on the one hand, we develop new products<br />

according to the needs of the markets on the other.<br />

In addition, we attach great importance to product<br />

development documents and status documents. There<br />

are investment documentation studies carried out by<br />

our company. We obtained the EAC certificate required<br />

for Russian exports after great effort and expensive<br />

costs. We had some of our lighting group products<br />

redone for the European market and received E-Mark<br />

certification from Europe for 17 different lighting<br />

products. Apart from these, we also obtained our<br />

exporter documents and our Euipo-based Overseas<br />

Trademark Registration certificate, which is registered<br />

by 22 European countries, as a result of long efforts.<br />

As of this year, we are switching to a B2B system for<br />

our customers. These are studies that were completed<br />

last year and this year, but we will continue to run with<br />

new surprises and expansions in the coming days.<br />

<strong>May</strong> <strong>2024</strong><br />


Togg dominates Türkiye’s<br />

EV market with over 4K units sold in Q1<br />

<strong>May</strong> <strong>2024</strong><br />

Türkiye’s first indigenous electric vehicle, Togg,<br />

emerged as an EV market leader in the first quarter<br />

of the year with over 4,000 units sold, according to<br />

industry data compiled by Anadolu Agency.<br />

Togg sold 4,145 vehicles in the first three months of<br />

the year, as shown by the data compiled by AA from<br />

the <strong>Automotive</strong> Distributors and Mobility Association<br />

(ODMD).<br />

Data revealed that car sales in Türkiye remained strong<br />

despite the surge in borrowing costs and inflation as<br />

overall monthly and quarterly sales rose.<br />

The ODMD said sales climbed 25.2% to 295,519 units<br />

in the January-March period compared to the first<br />

quarter of last year.<br />

During this period, car sales increased by 33.05% to<br />

233,389 units, while light commercial vehicle sales rose<br />

by 2.6% to 62,130 units.<br />

Meanwhile, according to the data, the number of “fully<br />

electric” car sales in January-March increased by<br />

275.9% to 14,158.<br />

The share of fully electric cars in total sales rose from<br />

2.1% to 6.1%, while the share of hybrid cars increased<br />

from 11% to 14.2%.<br />

When considering fully electric, extended-range<br />

electric and hybrid vehicles, electric motor-equipped<br />

vehicles accounted for 21.3% of the total market.<br />

According to ODMD data, Togg, which continues to<br />

increase its popularity among electric car brands,<br />

maintained its market leadership in the first quarter of<br />

the year.<br />

Togg, which was officially rolled out late in 2022, is<br />

currently producing a fully electric C-segment SUV at<br />

its plant in northwestern Bursa province. The brand<br />

launched the production of its T10X in October 2022<br />

before starting deliveries last April.<br />

Earlier this year, Türkiye’s first domestically produced<br />

electric car brand also unveiled its sedan model T10F<br />

at CES <strong>2024</strong>, a major consumer electronics and IT fair<br />

held in Las Vegas.<br />

In addition to the SUV and sedan, Togg is expected to<br />

manufacture three other models – a C-hatchback, a<br />

B-SUV, and a B–MPV – by 2030.<br />

Selling 4,145 units in January-March, it surpassed its<br />

closest competitor by 2,533 units.<br />

During this period, Togg’s market share in the<br />

electric car market stood at 29.7%; in other words,<br />

approximately one out of every three electric cars sold<br />

across the country was a Togg T10X model.<br />

Following Togg, German brands were seen in the top<br />

three and were followed by South Korean brands.<br />

BMW ranked second with 1,612 sales, while Mercedes<br />

Benz ranked third with 1,064 units sold.<br />

Ssangyong ranked fourth with 830 sales and Hyundai<br />

ranked fifth with 770 sales in the first three months,<br />

respectively.<br />

Among Chinese brands, MG stood out with 768 sales,<br />

followed by BYD with 550 sales and Skywell with<br />

96 sales. The increasing trend of electric cars in the<br />

Turkish car market remains relatively high, as several<br />

EV makers, including Chinese giant BYD and Tesla, of<br />

tech billionaire Elon Musk, entered the market last year.<br />

Tesla, the U.S.-based car manufacturer, sold 375 cars<br />

in three months but did not make it to the top 10,<br />

according to the ODMD data.<br />

Looking at the electric car market on a model basis,<br />

Togg T10X was the best-selling model. The BMW 5<br />

Series ranked second, Ssangyong Torres third, MG4<br />

fourth and Atto 3 fifth<br />


Vehicles are safer with Lider Filter<br />

Lider Filtre ile taşıtlar daha güvenli<br />

Her çeşit araç için hava filtreleri üreten Lider Filtre<br />

Otomotiv firmasının sahasındaki liderliğinin sırlarını<br />

Yönetim Kurulu Başkanı Erol Soytaş’a sorduk.<br />

We asked Erol Soytaş, Chairman of the Board of<br />

Directors, the secrets of the leadership of Lider Filter<br />

<strong>Automotive</strong>, which produces air filters for all kinds of<br />

vehicles.<br />

Could you briefly introduce yourself and your<br />

company?<br />

Lider Filtre Otomotiv Sanayi Ltd. Şti. was founded by<br />

Erol Soytaş in 1993 and started to produce air filters<br />

in the automotive sector in Istanbul. It is a dynamic<br />

company that closely follows the technology and<br />

continues its necessary investments.<br />

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

prominent factors in these products? What kind of<br />

work do you do on product development and R&D?<br />

We manufacture air filters for heavy-duty construction<br />

machinery, tractors, light vehicles and automobiles.<br />

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

your competitors?<br />

Our company has taken its respected place in the<br />

market by producing quality products through quality<br />

raw materials, high technology and professional staff.<br />

Do you have any investments planned in the short,<br />

medium and long term?<br />

We are doubling our production potential and<br />

expanding our machine park. With this growth, we are<br />

also doubling employment. Thus, we aim to offer more<br />

products to more customers and we will provide better<br />

quality service.<br />

Could you briefly introduce yourself and your<br />

company?<br />

Lider Filtre Otomotiv Sanayi Ltd. Şti. kurumumuz Erol<br />

Soytaş tarafından 1993 yılında kurumuş İstanbul’da<br />

otomotiv sektöründe hava filtreleri üretimine<br />

başlamıştır. Teknolojiyi yakından takip edip gerekli<br />

yatırımlarına devam eden dinamik bir şirkettir.<br />

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

prominent factors in these products? What kind of<br />

work do you do on product development and R&D?<br />

Ağır vasıta iş makineleri, traktör, hafif araçlar ve<br />

otomobiller için hava filtreleri üretimi yapmaktayız.<br />

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

your competitors?<br />

Firmamız kaliteli hammadde, yüksek teknoloji ve<br />

profesyonel elemanları vasıtasıyla kaliteli ürünler<br />

üreterek piyasadaki saygın yerini almıştır.<br />

Do you have any investments planned in the short,<br />

medium and long term?<br />

Üretim potansiyelimizi iki katına çıkarak makine<br />

parkurumuzu genişletiyoruz. Bu büyüme ile istihdamı<br />

da iki katına çıkarıyoruz. Böylece daha çok ürünü daha<br />

çok müşteriye sunmayı hedefliyoruz ve daha kaliteli<br />

hizmet vereceğiz.<br />

Can you give details about your exports?<br />

Your current and target markets, international<br />

promotion, participation in fairs, etc. What would<br />

you like to say about your strategies?<br />

Yurt dışı fuarlarına katılım sağlıyoruz. Genelde Orta<br />

Asya ülkelerine ihracat yapıyoruz.<br />

Batı Asya ülkelerine de ihracat yapmaktayız. Zaman<br />

içinde ihracat ağımızı daha da geliştirmeyi planlıyoruz.<br />

<strong>May</strong> <strong>2024</strong><br />

Can you give details about your exports?<br />

Your current and target markets, international<br />

promotion, participation in fairs, etc. What would<br />

you like to say about your strategies?<br />

We participate in fairs abroad. We generally export to<br />

Central Asian countries.<br />

We also export to West Asian countries. We plan to<br />

further develop our export network over time.<br />


Number of EVs in Türkiye<br />

could reach 4 million in decade<br />

The number of electric vehicles (EVs) on Turkish roads<br />

is projected to exceed 4 million units by 2035, while<br />

the number of charging socket points is estimated to<br />

reach nearly 350,000, according to the data compiled<br />

by Anadolu Agency (AA) on.<br />

According to information compiled from the Electric<br />

Vehicle and Charging Infrastructure Projection<br />

prepared by the Energy Market Regulatory Authority<br />

(EMRA), the increase in electric vehicles and charging<br />

points is considered a positive step for developing the<br />

e-mobility ecosystem.<br />

The projection considers increasing the number of<br />

electric vehicles and rapidly expanding the charging<br />

infrastructure throughout the country as a strategic<br />

goal.<br />

As a result, Türkiye is projected to reach 4.2 million<br />

electric vehicles and 347,934 charging sockets by<br />

2035.<br />

Electric vehicles are considered to be more efficient,<br />

and that, combined with the electricity cost, means<br />

that charging an electric vehicle is cheaper than filling<br />

petrol or diesel for your travel requirements. Using<br />

renewable energy sources can make the use of electric<br />

vehicles even more eco-friendly.<br />

<strong>May</strong> <strong>2024</strong><br />


However, EMRA’s projection includes three scenarios<br />

regarding the number of electric vehicles and charging<br />

infrastructure: low, medium and high.<br />

According to the given projection, the number of<br />

electric vehicles could reach 202,030 in the low<br />

scenario, 269,154 in the medium scenario and 361,893<br />

in the high scenario by 2025.<br />

Moreover, by 2030, this figure is estimated to be<br />

776,362 in the low-case scenario, 1.32 million in the<br />

medium scenario and 1.67 million in the high scenario,<br />

respectively.<br />

By 2035, the number of EVs, on the other hand, is<br />

expected to be 1.78 million in the low scenario, 3.3<br />

million in the medium scenario, and 4.2 million in the<br />

high scenario, meaning most ideal in these terms.<br />

With the rise in electric vehicles and the development<br />

of charging infrastructure, a consequent increase in the<br />

number of charging stations and socket points is also<br />

expected.<br />

In 2025, the number of charging socket points is<br />

calculated to be 34,278 in the low scenario, 46,070 in<br />

the medium scenario and 61,897 in the high scenario.<br />

Five years later, this figure is projected to rise to 85,543<br />

in the first case scenario, 142,824 in the second and<br />

181,274 in the high scenario.<br />

Furthermore, by 2035, the number of charging socket<br />

points is expected to be 146,916 in the low scenario,<br />

273,076 in the medium scenario and 347,934 in the<br />

high scenario.<br />

The projection also anticipates that total electricity<br />

consumption due to electric vehicles will range from<br />

3.98 to 9.39 terawatt-hours (TWh) by 2035.<br />

A period of rapid development in the EV ecosystem<br />

has been visible in Türkiye and around the globe, with<br />

projections of top associations, most recently the<br />

International Energy Agency (IEA), indicating that this<br />

trend is on course to continue in the upcoming years.<br />

IEA said in its report that global electric car sales are<br />

set to remain robust in <strong>2024</strong> and could reach a new<br />

record of around 17 million by the end of this year,<br />

compared to 14 million sold last year.<br />

According to the EMRA, the electric vehicle charging<br />

network infrastructure plays a key role in achieving<br />

energy efficiency and reducing carbon footprint as the<br />

foundation of an environmentally friendly transportation<br />

system. In addition, Türkiye’s renewable energy<br />

potential and advanced energy infrastructure present<br />

an important opportunity to support the widespread<br />

use of electric vehicles.<br />

Compared to the beginning of last year, when 14,896<br />

electric vehicles were present in Türkiye, this figure has<br />

now climbed to 93,973.<br />

<strong>May</strong> <strong>2024</strong><br />


Honda to set up $11B EV, battery<br />

plant in record Canada investment<br />

April <strong>2024</strong><br />

Japanese auto giant Honda announced it would build a<br />

massive new electric vehicle battery and car assembly<br />

plant worth C$15 billion ($11 billion) in the largest<br />

automotive investment in Canada’s history.<br />

Honda CEO Toshihiro Mibe told a joint news<br />

conference with Prime Minister Justin Trudeau and<br />

other officials that electric vehicles will start rolling off<br />

the new assembly line in 2028.<br />

Once fully operational, the factory will have a<br />

production capacity of 240,000 vehicles per year and a<br />

battery output of 36 gigawatt hours (GWh) per year.<br />

“The world is changing rapidly, and we must work<br />

toward realizing carbon neutrality to sustain the global<br />

environment,” Mibe said.<br />

Honda estimates that 1,000 new jobs will be produced<br />

at the facility, which is to be built next to its existing<br />

Civic and CR-V assembly plants north of Toronto that<br />

already employ 4,200 workers.<br />

Trudeau touted Ottawa’s efforts to set up “a whole<br />

ecosystem” around the production of electric batteries,<br />

positioning Canada as an attractive destination<br />

for electric vehicle investment, with generous tax<br />

incentives, renewable energy access and its rare<br />

mineral deposits.<br />

“Because of the choices our government has made<br />

over the past few years, Canada now ranks first,<br />

globally in Bloomberg’s ranking of lithium-ion battery<br />

supply chains,” Trudeau said.<br />

Ontario Premier Doug Ford noted that his province<br />

is “the only place in the world that six of the largest<br />

automakers call home” and with Honda’s investment<br />

is now “leading the world in the electric vehicle<br />

revolution.”<br />

In the federal budget, Trudeau’s government<br />

introduced a new business tax credit, granting<br />

companies a 10% rebate on construction costs for<br />

new facilities used in key segments of the electric<br />

vehicle supply chain.<br />

The estimated value of the federal tax credit for<br />

Honda’s new facility is C$2.5 billion, while Ford said<br />

the province is contributing another C$2.5 billion in<br />

incentives.<br />

In the last four years, automotive and battery makers<br />

have announced more than C$31 billion in investments<br />

in electric vehicle manufacturing across Canada.<br />

Canada’s strategy follows that of the neighboring<br />

United States, whose Inflation Reduction Act has<br />

provided a host of incentives for green industry.<br />

Since 2021, Honda has made big outlays as it<br />

aggressively pursues its objective of becoming 100%<br />

electric in its automobile segment by 2040.<br />

Its new facility in Alliston, Ontario will be the first to<br />

tap into Canada’s EV supply chain investment tax<br />

credit and joins recently announced Volkswagen and<br />

Stellantis battery plants in Canada.<br />

Honda will also build a cathode active material and<br />

precursor processing plant as well as a separator<br />

plant through joint ventures with chemical companies<br />

POSCO Future M and Asahi Kasei in order to complete<br />

its local EV supply chain.<br />


Nissan plans to slash EV production<br />

costs, boost global sales<br />

<strong>May</strong> <strong>2024</strong><br />

Japanese automaker Nissan announced that it would<br />

expand its electric vehicle lineup, develop more<br />

powerful batteries and slash production costs while<br />

speeding up the whole process in what its chief called<br />

“The Arc” pathway to higher sales by 2030.<br />

“The auto industry is now being forced to reshape its<br />

values so we can say continuous change is the new<br />

normal,” CEO Makoto Uchida told reporters, outlining<br />

a sprawling but ambitious business plan.<br />

“Nissan must change. We cannot succeed if we<br />

continue along the same path.”<br />

Costs will come down for electric models, so they’ll be<br />

about the same as gasoline-engine models by fiscal<br />

2030, while global sales will grow by a million vehicles<br />

during that period, he added.<br />

Last year, Nissan Motor Co. sold nearly 3.4 million<br />

vehicles worldwide, up about 5% from the previous<br />

year.<br />

The company plans 30 new models over the next<br />

three years, 16 of them EVs. Nissan plans to launch<br />

34 EV models from fiscal <strong>2024</strong> through fiscal 2030 so<br />

that EVs will account for 40% of its global offerings by<br />

fiscal 2026 and 60% by the end of the decade.<br />

To slash costs, Nissan says it will start working with<br />

suppliers from the development stage, upgrade<br />

production methods to incorporate robotics and<br />

artificial intelligence, and have models share<br />

components – not just platforms but also parts. It also<br />

promised innovation in autonomous vehicles to make<br />

driving safer.<br />

Nissan, based in the port city of Yokohama, southwest<br />

of Tokyo, will leverage its partnerships around the<br />

world, including those with smaller Japanese maker<br />

Mitsubishi Motors Corp., with Dongfeng Nissan in<br />

China and in the alliance it has with French automaker<br />

Renault.<br />

Earlier this month, Nissan announced it was in talks to<br />

form a partnership with Japanese rival Honda Motor<br />

Co. in electrification and artificial intelligence.<br />

Such tie-ups between rivals are relatively unusual but<br />

are needed to keep up with surging demand for more<br />

sustainable transport as concerns grow over carbon<br />

emissions and sustainability, analysts say.<br />

Nissan, Japan’s No. 2 automaker, was an early EV<br />

adapter, coming out with the Leaf EV in late 2010. In<br />

recent years, Japanese automakers have fallen behind<br />

Tesla of the U.S. and Chinese manufacturers like BYD.<br />

Automakers, including Nissan, have taken a hit from<br />

shortages of computer chips and other parts due to<br />

disruptions related to the pandemic.<br />

Nissan’s offerings of new EVs, plug-ins and hybrids will<br />

increase across all global markets, including the U.S.,<br />

Europe, Japan, the rest of Asia, Australia and Africa,<br />

Uchida said.<br />

“The Arc plan shows our path to the future. It<br />

illustrates our continuous progression and ability to<br />

navigate changing market conditions. This plan will<br />

enable us to go further and faster in driving value and<br />

competitiveness,” he said, referring to Nissan’s goals.<br />

Nissan’s stock price, which shot up earlier this month<br />

after its talks with Honda were announced, finished 2%<br />

lower shortly before Uchida’s news conference.<br />


Turkish manufacturing<br />

index holds steady<br />

in March<br />

<strong>May</strong> <strong>2024</strong><br />

Factory activity in Türkiye was highly neutral in March,<br />

signaling unchanged operating conditions for Turkish<br />

manufacturers during the month, a closely watched<br />

business survey showed.<br />

The headline Purchasing Managers’ Index (PMI)<br />

slipped slightly to the 50.0 no-change mark in March<br />

from 50.2 in February, data provider S&P Global’s<br />

monthly report, prepared in collaboration with the<br />

Istanbul Chamber of Industry (ISO), said.<br />

The report indicated that business conditions were<br />

stable overall during the month.<br />

The PMI is a key economic indicator that provides<br />

insight into the health of the manufacturing industry. A<br />

reading above 50 indicates expansion, while a below<br />

50 suggests contraction.<br />

Manufacturing output grew fractionally in March, while<br />

new orders and employment eased marginally but<br />

neared stabilization.<br />

New orders eased to the smallest extent in nine<br />

months, encouraging some firms to expand production<br />

and increase purchasing activity in March.<br />

Inventories continued to moderate, however, with<br />

stocks of both purchases and finished goods scaled<br />

back at the end of the first quarter. Some firms<br />

experienced delays in receiving inputs as a result of<br />

disruption in the Red Sea, with lead times lengthening<br />

for the third month running.<br />

Evaluating the data, S&P Global Market Intelligence<br />

Economics Director Andrew Harker said: “March was<br />

a month of stability for Turkish manufacturers. New<br />

orders continued the recent move towards stabilization<br />

and this improving picture prompted further modest<br />

increases in output and purchasing.”<br />

“If the recent trend in demand continues, we should<br />

hopefully see growth building momentum as we go<br />

through the second quarter of the year,” he added.<br />


Tesla rebounds on new models plan<br />

after 55% fall in net profit in Q1<br />

<strong>May</strong> <strong>2024</strong><br />

Tesla reported a big slump in quarterly profits amid an<br />

increasingly cutthroat electric vehicle market and price<br />

reductions of some of its models, but shares pulled<br />

back as CEO Elon Musk pledged to accelerate plans<br />

for a more affordable EVs.<br />

Tesla reported profits of $1.1 billion, down 55% from<br />

the year-ago quarter on revenues of $21.3 billion, down<br />

9% as the company described EV sales as “under<br />

pressure.”<br />

However, shares rocketed up more than 11% in afterhours<br />

trading after Tesla pledged to “accelerate” new,<br />

more affordable autos – something Wall Street analysts<br />

have been clamoring for.<br />

The results, which lagged analyst estimates, come<br />

as investors have sought greater strategic clarity<br />

from Musk amid a weaker performance and as the<br />

mercurial Tesla boss has touted Robotaxis as a venture<br />

at a time when there are increasing questions about<br />

the timeframe that autonomous technology will be<br />

commercially viable.<br />

The company, which recently announced layoffs of<br />

some 14,000 workers, has also undertaken a recall of<br />

its Cybertruck due to an acceleration problem.<br />

Cutting headcount by more than 10% will save Tesla<br />

more than $1 billion annually in costs, Chief Financial<br />

Officer Vaibhav Taneja said on a conference call with<br />

analysts.<br />

Despite the belt-tightening, Tesla’s report did provide<br />

some news likely to cheer investors, saying it planned<br />

to “accelerate the launch of new models ahead of our<br />

previously communicated start of production in the<br />

second half of 2025.”<br />

The new vehicles will include “more affordable<br />

models,” Tesla said.<br />


<strong>May</strong> <strong>2024</strong><br />

At the outset of conference call, Musk said production<br />

on the vehicles would start in early 2025 or late <strong>2024</strong>, up<br />

from the prior timeframe of the latter half of 2025.<br />

Musk said the vehicles “will use new aspects of the<br />

next-generation platform as well as aspects of our<br />

current platform. “So, it’s not contingent on any new<br />

factory or massive new production line.”<br />

Musk declined to elaborate on the plan, saying<br />

more details would be released in August.The Tesla<br />

CEO spoke at length about the promise of Tesla’s<br />

autonomous ventures, saying valuing the EV maker like<br />

a car company is the “wrong framework.”<br />

“If somebody doesn’t believe Tesla is going to solve<br />

autonomy, I think they should not be an investor,” he<br />

said. The statement about new vehicles comes on the<br />

heels of speculation that Tesla is shelving plans for the<br />

“Model 2,” the unofficial name of what is expected to<br />

be a mass-marketed, lower-priced vehicle.<br />

While Tesla’s statements about new vehicles boosted<br />

shares, “the company still hasn’t offered timelines for<br />

these new vehicles, which could take years to come<br />

to market at a time when EV competition in various<br />

markets is intensifying,” said Gadjo Sevilla, senior<br />

technology analyst at Emarketer.<br />

Tesla also said it will continue to pursue a<br />

“revolutionary” manufacturing strategy on a “purposebuilt<br />

robotaxi product.”<br />

Leading analysts have expressed skepticism about the<br />

embrace of the Robotaxi venture.<br />

Deutsche Bank analysts downgraded Tesla to a<br />

“hold,” pointing to disappointments about the<br />

rumored Model 2 delay that weren’t offset by the<br />

Robotaxi push.<br />

Musk announced that the Robotaxi will be unveiled<br />

in August “in no way means the technology is ready,”<br />

said Deutsche Bank, pointing to “technological,<br />

regulatory and operational challenges” that could<br />

hamper its commercial prospects.<br />

“We worry there is considerable execution risk to the<br />

development of Robotaxi technology and that a fleet<br />

deployment could be years away,” Deutsche Bank<br />

said. Shoggi Ezeizat, analyst at Third Bridge, said<br />

Tesla’s ambitious push in robotaxis “could provide<br />

a competitive edge” with “sustained and robust”<br />

commitment.<br />

However, the campaign “carries significant risks,”<br />

including regulatory challenges, scaling demands<br />

and the potential for setbacks “that could impede<br />

progress and affect consumer trust in autonomous<br />

services,” Ezeizat said.<br />

Heading into <strong>2024</strong>, Tesla watchers were already<br />

girding for a tougher path, with Musk’s oncedominant<br />

leadership in EVs facing more competition<br />

from rivals, resulting in a series of price cuts.<br />

However, things have been bumpier than expected,<br />

with news of the job cuts and lower vehicle deliveries,<br />

followed late by Tesla’s recall of the Cybertruck due<br />

to an acceleration problem.<br />


Welcome to Automechanika Istanbul!<br />

The Meeting Point of Continents and <strong>Automotive</strong> Industry-Where You Should Take Part<br />

World’s leading trade fair brand for the automotive<br />

aftermarket industry, Automechanika’s one and only<br />

event in Türkiye, Automechanika Istanbul will take<br />

place on <strong>May</strong> 23 - 26, <strong>2024</strong> at Istanbul TUYAP Fair and<br />

Congress Center.<br />

Automechanika Istanbul brings industry, retail and<br />

seminars together in one place. The latest edition in<br />

June 2023 brought a total of 58.024 professionals from<br />

all around the world together with 1437 exhibitors from<br />

41 countries and 10 country pavilions.<br />

Automechanika Istanbul covers the full range<br />

of automobile, truck and bus parts, equipment,<br />

components, accessories, tools, and services<br />

continues to bring world renowned manufacturers,<br />

suppliers and service providers in touch with one of the<br />

most important growing markets in the world.<br />

As for this year:<br />

• Industry meeting point-Automechanika Istanbul<br />

brings industry, retail and seminars together in one<br />

place.<br />

• At the heart of the action- Istanbul’s location is<br />

literally a bridge between Europe, the Middle East,<br />

North Africa and CIS regions.<br />

• Large yet accessible: Each year, hundreds of<br />

exhibitors come here to showcase their latest<br />

developments. Thanks to the exhibition grounds’ clear<br />

structure and visitor guidance systems, you’ll have no<br />

trouble finding what you’re looking for.<br />

• Globally networked- more than 40.000 buyers build<br />

relationships with suppliers from all over the world.<br />

You should get connected with the future of the<br />

automotive service industry at the Turkey’s leading<br />

<strong>May</strong> <strong>2024</strong><br />


<strong>May</strong> <strong>2024</strong><br />

trade fair Automechanika Istanbul. As a meeting place<br />

for the industry, dealership trade and maintenance<br />

and repair segment, it provides a major platform for<br />

business and technological knowledge transfer.<br />

While the automotive industry continues to develop<br />

through electric vehicles and solutions, Turkish<br />

manufacturers, which develop themselves with the<br />

focus on technology and innovative solutions, are<br />

also focusing on the future with Automechanika<br />

Istanbul. Underlining that Automechanika Istanbul<br />

is the most important fair of the sector, Ali Ozcete,<br />

Chairman of the Board of Directors of the <strong>Automotive</strong><br />

Aftermarket Products and Services Association (OSS),<br />

stated, “As an association, we have been one of the<br />

main supporters of the fair for years. Automechanika<br />

Istanbul is a very valuable fair for both us and our<br />

members. Automechanika Istanbul provides a<br />

great opportunity for companies to improve their<br />

relationships with their customers, establish new<br />

connections and therefore strengthen their position<br />

in the market. “Last year, we attended the fair with<br />

approximately 130 members and received positive<br />

feedback from all our members.”<br />

Ozcete added, “Automechanika Istanbul allows our<br />

members to exhibit and promote innovations in the<br />

sector, while also allowing them to establish business<br />

connections and network. In addition, it also offers<br />

the opportunity to examine market conditions in<br />

the automotive aftermarket sector and determine<br />

future trends. Thus, participants can access data to<br />

support their business decisions by analyzing the<br />

strategies of their competitors and other players in<br />

the industry. We also organize various events with our<br />

members within the scope of the fair. During the fair,<br />

which is very productive for the sector, we organize<br />

both international conferences and various events<br />

and panels. In this way, exhibitors and visitors can<br />

learn about the latest developments in the sector<br />

and have the opportunity to interact with experts.”<br />

He commented on the importance of Automechanika<br />

Istanbul for the industry with his words.<br />

“Our export companies operating in the automotive<br />

industry managed to deliver their products to 112<br />

countries in 2023.” Underlined by these words that<br />

Automechanika Istanbul, which will be held for the<br />

17th time this year between 23-26 <strong>May</strong> <strong>2024</strong>, will bring<br />

together the entire automotive after-sales value chain.<br />

Ozcete said, “Our members are participating in the fair<br />

in many countries where Automechanika takes place.<br />

We attach great importance to the organization held<br />

in Istanbul. The fair makes significant contributions<br />

to our industry with the innovations it provides every<br />

year. The issues affecting the automotive after-sales<br />

sector specifically for <strong>2024</strong> and in the coming years<br />

include many important topics such as the production<br />

of spare parts required for electric and autonomous<br />

vehicles, digitalization, automation and the widespread<br />

use of robotics. In addition to the products and services<br />

exhibited this year, Automechanika Istanbul <strong>2024</strong> will<br />

offer an environment where all these technological<br />

developments will be shared for automotive industry<br />

professionals. In this sense, we can say that the<br />

innovations and events at the fair will be very beneficial<br />

for us.” He shared his comments with his words.<br />

Continuing his words with the work within the scope<br />

of the “Balance at Work” project that they have<br />

implemented as an association, Ozcete stated, “We<br />

started the Balance at Work project in order to see more<br />

educated students in our sector and to communicate<br />

with them easier and faster. With this project, we have<br />

increased the employment of female employees in<br />

our sector.” In this regard, we also ensure that the<br />

students we work with participate in the fair every year,<br />

bring them together with companies and invite them<br />

to our panels, so that they get to know the sector. In<br />

this way, they get to know the fair and communicate<br />

with our members. This year, within the scope of the<br />

project, we also ensure that students get to know the<br />

Automechanika brand. “We plan to shed light on their<br />

future by hosting them in Istanbul,” he said.<br />


Türkiye bolsters EV sales, races<br />

towards top 5 among EU states<br />

<strong>May</strong> <strong>2024</strong><br />

Türkiye has been shown to have performed better<br />

compared to many European Union countries in fully<br />

electric car sales in the first two months of this year,<br />

according to an Anadolu Agency (AA) report, based on<br />

industry data.<br />

Accordingly, the sales of fully electric cars reached<br />

8,255 units in January-February, according to the data<br />

compiled by AA from the <strong>Automotive</strong> Distributors and<br />

Mobility Association (ODMD).<br />

Looking at the overall sales, the petrol cars ranked<br />

first with 97,861 units sold, while hybrid cars came in<br />

second with 21,594 units sold in Türkiye during the<br />

same period.<br />

Diesel sales stood at 15,910 units, and LPG (liquefied<br />

petroleum gas) sales were at 1,181 units, according to<br />

the data.<br />

Furthermore, while electric vehicle sales stood at 8,255<br />

units when vehicles with an extended range (which<br />

operate by running an electric motor with a petrol<br />

engine generator to charge the battery) were included,<br />

the sales figures for electric cars rose to 9,772.<br />

Extended-range vehicles are also classified as<br />

“electric” under the international coding system,<br />

Customs Tariff Statistics Position (GTIP).<br />

Car sales in the first two months increased by 49.3%<br />

for petrol cars when compared to the same period last<br />

year, decreased by 0.5% for diesel and decreased by<br />

43.3% for LPG cars.<br />

During this period, hybrid car sales surged by 113.8%<br />

and fully electric car sales soared by 329.5%.<br />

According to the data obtained by AA, while the share<br />

of petrol, diesel and LPG cars in total sales decreased<br />

in the January-February period versus the same period<br />

the year earlier, the share of electric cars and hybrid<br />

cars picked up.<br />

The share of petrol cars in total sales, which was<br />

68.1% in the January-February period of last year,<br />

decreased to 66.9% in the first two months of this<br />

year. Meanwhile, the share of diesel cars dropped from<br />

16.6% to 10.9%, and the share of LPG cars decreased<br />

from 2.2% to 0.8%.<br />

At the same time, the share of fully electric cars<br />


increased from 2% to 5.6%, and the share of hybrid<br />

cars rose from 10.5% to 14.8%. When considering<br />

fully electric, extended-range electric and hybrid cars,<br />

electrified vehicles accounted for 21.5% of the total<br />

market.<br />

The increasing trend of electric cars in the Turkish car<br />

market remains high compared to European markets.<br />

This can be partly attributed to many European and<br />

Asian brands introducing their ambitious models to the<br />

Turkish market, in addition to the soaring interest in<br />

the first domestically produced electric vehicle, Togg,<br />

whose sales surpassed 2,800 units in the first two<br />

months of the year.<br />

According to ODMD data, Togg, which continues to<br />

rise among electric car brands, became the market<br />

leader with 1,201 units sold in February, leaving behind<br />

BMW and Ssangyong. Its total sales in the first two<br />

months reached 2,826 units, compared to only 295<br />

units of Tesla sold during the same period.<br />

Alongside electric cars, the number of hybrid vehicles,<br />

another part of electric mobility, is also said to be<br />

increasing.<br />

Meanwhile, the analysis of data on European electric<br />

vehicle market sales showed that Germany stood at<br />

the forefront in the number of units sold in the first two<br />

months, leaving France closely behind and Belgium in<br />

third place.<br />

Germany, with 49,953 units sold, was the leader among<br />

the 27-member EU bloc, according to the recent<br />

European Automobile Manufacturers’ Association<br />

(ACEA) data. The total number of EVs sold in France<br />

was 45,842 units and in Belgium, there were 19,380<br />

units. The Netherlands ranked fourth with 17,004 sales<br />

and Sweden ranked fifth with 10,165 sales.<br />

The sales in Italy stood at 7,986 units and in Spain at<br />

7,180 units, while Denmark also quoted high with 8,100<br />

units sold and its neighboring Finland sold 2,917 units<br />

of electric cars during the same period.<br />

With 8,255 fully electric cars sold in the two months<br />

of <strong>2024</strong>, Türkiye was positioned at a high sixth place<br />

among EU countries, surpassing countries like Italy,<br />

Spain, Austria and EV-friendly Denmark and Finland.<br />

Looking at the data and the growth rate of the market,<br />

Türkiye, closely following Sweden, appears to be one<br />

of the closest candidates to rank among the top five<br />

countries in electric car sales. Industry representatives<br />

predict electric car sales across Türkiye could reach<br />

120,000 units this year.<br />

<strong>May</strong> <strong>2024</strong><br />


Türkiye’s foreign trade gap nearly<br />

halves amid upward export trend<br />

<strong>May</strong> <strong>2024</strong><br />

Türkiye’s foreign trade deficit narrowed by almost 50%<br />

in February, as exports grew and imports fell, official<br />

data showed.<br />

The shortfall fell by 44.2% from $12.13 billion in<br />

February 2023 to $6.77 billion, the Turkish Statistical<br />

Institute (TurkStat) said.<br />

Exports grew 13.6% compared to a year ago to nearly<br />

$21.1 billion. Imports declined 9.2% year-over-year to<br />

$27.85 billion, the data showed.<br />

Energy imports, which hold the biggest share in<br />

Türkiye’s purchases from abroad, dropped by 14.6% to<br />

$5.75 billion.<br />

Elaborating on the data, Trade Minister Ömer Bolat<br />

said Türkiye is achieving a more balanced structure of<br />

economic growth with the upward trend in exports and<br />

the decrease in imports.<br />

“With this positive trend in foreign trade, it is expected<br />

that net goods and services exports will make a<br />

positive contribution to growth in the<br />

first quarter of <strong>2024</strong>,” Bolat said in a<br />

statement.<br />

Excluding energy products and nonmonetary<br />

gold, exports stood totaled<br />

$19.6 billion, up 12.3% from a year<br />

ago, and imports came in at $20.99<br />

billion with a 5.2% increase in February.<br />

The foreign trade deficit – excluding<br />

energy products and non-monetary<br />

gold – totaled $1.4 billion, the data<br />

showed.<br />

For the January-February period, the<br />

gap decreased by 51% versus a year<br />

ago to $12.95 billion.<br />

Outbound shipments totaled $41<br />

billion, up by 8.5% year-over-year, and imports<br />

dropped by 16% to $54 billion over the two months,<br />

the TurkStat said.<br />

Bolat stressed what he said was a significant decrease<br />

in the current account deficit due the narrowing foreign<br />

trade gap.<br />

He recalled that the annualized current account deficit<br />

decreased by $22.6 billion this January compared to<br />

<strong>May</strong> 2023, reaching $37.5 billion.<br />

The current account is the most complete measure of<br />

trade because it includes investment flows and trade<br />

in merchandise and services. A deficit means Türkiye<br />

is consuming more from overseas than it is selling<br />

abroad.<br />

The February foreign trade reading signals a continued<br />

decline in the current account gap, said Bolat.<br />

“With the increase in exports and the decrease in<br />

imports, macroeconomic stability is strengthened,<br />

and a more balanced structure of economic growth<br />

is achieved. With this positive trend in foreign trade,<br />

it is expected that net goods and services exports<br />

will make a positive contribution to growth in the first<br />

quarter of <strong>2024</strong>,” the minister noted.<br />

Narrowing the current account 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.<br />

The deficit in 2023 as a whole came in at $45.2 billion,<br />

down from $48.8 billion in 2022.<br />


On Filter always aims high<br />

Producing all kinds of oil-fuel and hydraulic filters, including spin-on type<br />

filters, air filters, cabin and element filters, On Filter company proudly<br />

serves its customers in more than 50 countries.<br />

Yusuf Yılmaz, general manager of On Filter<br />

In fact, On Filter supplies 5500 types of oil-fuel-airhydraulic-cabin-generator<br />

and compressor filters<br />

for all kinds of vehicles. The company has filters for<br />

large vehicle groups, automotive groups, construction<br />

equipment, generators, compressors and special<br />

hydraulic filter types. We asked their success story to<br />

Yusuf Yılmaz, general manager of the company. Full<br />

text of the exclusive interview follows:<br />

Could you briefly introduce yourself and your<br />

company?<br />

Yusuf Yılmaz, I am the general manager of On Filter<br />

Ltd. Şti. We serve our domestic and international<br />

customers with our registered trademarks ONFİL<br />

FİLTER and KRAFF FİLTER. Although we started<br />

production in 1996, our actual start as a filter<br />

salesman was in 1985. Our company produces all<br />

<strong>May</strong> <strong>2024</strong><br />


kinds of oil-fuel and hydraulic filters, including spin-on<br />

type filters, air filters, cabin and element filters. It is<br />

an experienced company with TSE and ISO quality<br />

certificates, serving with a total of 5500 product types<br />

including large vehicle groups, automotive groups,<br />

construction equipment, generators, compressors<br />

and special hydraulic filter types. In addition, the<br />

ONFİL brand is an important organization with a<br />

wide portfolio, having its brand registered in many<br />

countries and having customers in approximately<br />

50 countries (distributorship in some countries).<br />

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

prominent factors in these products? What kind<br />

of work do you do on product development and<br />

R&D?<br />

Our products are manufactured with utmost care and<br />

using the right materials. Mass production cannot be<br />

started without going through the testing phase to<br />

ensure correct filtration in vehicles. Our filters, which<br />

are released to the market after correct tests, reach<br />

the consumer with the confidence of the brand. Our<br />

portfolio includes more than 5500 types of oil-fuelair-hydraulic-cabin-generator<br />

and compressor filters<br />

for all kinds of vehicles. Our R&D studies are at the<br />

beginning stage, and we are increasing our range<br />

by adding at least 12-15 new product types to our<br />

portfolio every month.<br />

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

to your competitors?<br />

Especially the quality of all our branded competitors<br />

is superior to each other. Each brand fulfills its<br />

duty completely by promoting Turkish goods in<br />

the international arena and competing with the<br />

understanding of quality products and services. Our<br />

company’s after-sales service approach is one of<br />

its top priorities. Our most important feature is our<br />

sincere commercial relations with our dealers and the<br />

ability to produce solutions together and achieve the<br />

right targets.<br />

Do you have any investments planned in the short,<br />

medium and long term?<br />

Recently, additions have been made to our spin-on<br />

lines and laboratory. On the one hand, a new 1550<br />

m2 additional raw material warehouse was built to<br />

address the warehouse problems caused by growth.<br />

Our most important project in the medium and long<br />

term will be to allocate at least 80-100 decares of<br />

land in one of the new organized industrial zones<br />

to be opened and establish a new factory facility of<br />

30,000 m 2 .<br />

5. Can you give details about your exports?<br />

Your current and target markets, international<br />

promotion, participation in fairs, etc. What would<br />

you like to say about your strategies?<br />

Domestic and especially international fair<br />

organizations are very important in terms of increasing<br />

exports and brand recognition. We participate in<br />

at least 2-3 international fair organizations every<br />

year. Recently, we participated in Kazakhstan,<br />

Senegal and Dubai fairs. We follow the right new fair<br />

organizations for new target regions. To mention a<br />

few target regions, we can count Saudi Arabia, Qatar,<br />

Uzbekistan, Romania, England, Spain, Argentina,<br />

Brazil and South Africa.<br />

Is there any issue or issues you would like to<br />

particularly emphasize?<br />

As ONFİL FİLTRE, our most important vision is to<br />

present our brand to our dealers in the best possible<br />

way without compromising on quality and to grow<br />

together. With this understanding, we strengthen our<br />

cooperation with our dealers and grow together every<br />

year. Our company’s motto for all motor vehicles<br />

using our filters is: “Your Vehicle is Safe with ON’s”<br />

<strong>May</strong> <strong>2024</strong><br />


Türkiye’s Aselsan seals deals to<br />

export drone camera, guidance kits<br />

<strong>May</strong> <strong>2024</strong><br />

Türkiye’s prominent defense electronics manufacturer,<br />

Aselsan, announced that it had sealed three separate<br />

agreements, including the inaugural exports of new<br />

drone optical technology and guidance kits.<br />

The contracts, worth about $31.5 million, cover the<br />

GÖZDE guidance kit and ASELFLIR-500, an electrooptical<br />

reconnaissance, surveillance and targeting<br />

system that is considered the world’s best in its class.<br />

The electro-optic system is more advanced than the<br />

Common Aperture Targeting System (CATS), which<br />

Aselsan developed after Canada suspended sales of<br />

its optical equipment to Türkiye in 2020.<br />

Ottawa suggested that the system attached to<br />

Turkish-made drones had been used by Azerbaijan<br />

while fighting illegally occupying Armenian forces in<br />

Karabakh, the Azerbaijani enclave Baku has since<br />

liberated.<br />

The embargoed equipment included Wescam sensors<br />

used in Türkiye’s famed Bayraktar TB2 drones,<br />

developed by Baykar.<br />

This January, Canada announced it had dropped<br />

weapon export controls on drone parts, including the<br />

imaging and targeting system, shortly after Türkiye<br />

formally approved Sweden’s NATO membership bid.<br />

The GÖZDE guidance kit, developed jointly by Aselsan<br />

and TÜBITAK SAGE, entered inventory last year.<br />

It converts 500-pound MK-82 general-purpose bombs<br />

into INS/GPS and Laser Seeker Head (LAB) guided<br />

ammunition, facilitating precise strikes on stationary<br />

and high-speed moving targets (50-120 kilometers per<br />

hour).<br />

The guidance kit has been certified for F-16 and F-4<br />

aircraft, and integration has also been completed for<br />

Türkiye’s most advanced and sophisticated drone,<br />

Bayraktar Akıncı.<br />

The development of ASELFLIR-500 marks the latest<br />

advancement in the critical system that Türkiye for<br />

years imported from abroad.<br />

Its first mass-produced samples were unveiled last<br />

month, and engineers have begun their integration into<br />

domestic air platforms.<br />

With superior image clarity enabling more precise<br />

target identification, it promises to enhance operational<br />

success while contributing to the country’s economy<br />

through high-value exports, reaching up to $20,000 per<br />

kilogram.<br />


Türkiye’s solar power capacity<br />

surpasses 12,000 MW milestone<br />

The total installed capacity of solar energy in Türkiye<br />

exceeded 12,000 megawatts (MW) for the first time as<br />

of the end of February and reached 12,425 megawatts,<br />

according to the statement issued by the country’s<br />

Energy and Natural Resources Ministry.<br />

The statement from the ministry featured a graphic of<br />

the total solar capacity and showed that it increased<br />

from 11,316 MW in December to 11,838 MW in<br />

January and eventually 12,425 MW in February.<br />

The share of renewable energy in electricity production<br />

surpassed 51% in the first two months of the year. This<br />

rate was recorded as 51.63% in January and 51.03%<br />

in February, according to the ministry.<br />

The importance of solar and wind energy is increasing<br />

as renewable energy contributes to reducing<br />

dependency on imports and achieving climate change<br />

goals.<br />

As of the end of February, renewable energy sources<br />

constituted 56.21% of Türkiye’s installed electricity<br />

capacity.<br />

According to ministry data, there was a total increase<br />

of 2,000 megawatts in solar energy installed capacity<br />

last year and an increase of 1,109 megawatts in the<br />

first two months of this year.<br />

Thus, more than half of the increase achieved in 2023<br />

was reached in the first two months of this year.<br />

Energy and Natural Resources Minister Alparslan<br />

Bayraktar, whose evaluations were included in<br />

the statement, stated that more than 51% of total<br />

electricity production was provided from renewable<br />

energy sources in January and February, and they<br />

aimed to reach this rate on an annual basis.<br />

Over the last two decades, the drive to curb vast<br />

energy imports has seen Türkiye boost significantly the<br />

level of renewables in its energy mix.<br />

“In this context, our target for 2035 is to increase<br />

the share of renewable energy in production to 55%.<br />

The current picture at this stage shows that we are<br />

progressing steadily toward our 2035 target,” noted<br />

Bayraktar.<br />

He pointed out that renewable energy would be the<br />

key to Türkiye’s full independence in energy and said:<br />

“Our goal is to achieve an increase of 5,000 megawatts<br />

in installed capacity each year until 2035, including<br />

3,500 megawatts in solar and 1,500 megawatts in wind<br />

energy. We aim to reach a total of 60,000 megawatts of<br />

new installed capacity over the next 12 years, including<br />

<strong>2024</strong>.”<br />

<strong>May</strong> <strong>2024</strong><br />


Umum Diesel, from generation to generation<br />

Manufacturing spare parts for diesel pumps and the revision of their pumps for<br />

over 40 years UMUM DIESEL has experienced and technical staff undertaking<br />

the production of many products and offering quality services.<br />

Having necessary materials, information, team and<br />

equipment to fulfill its commitments in a timely and<br />

complete manner, Umum Diesel has been offering<br />

maintenance, repair and overhaul of the pump injector<br />

systems of many diesel vehicles in addition to its<br />

manufacturing activities. The company always aims<br />

to do its best and to continuously increase customer<br />

satisfaction. We conducted an exclusive interview with<br />

Cihat Küçük, a partner and foreign Trade Manager of<br />

the company. Full text of the interview follows:<br />

Could you briefly introduce yourself and your<br />

company?<br />

Cihat KÜÇÜK, as the partner and Foreign Trade<br />

Manager of Umum Diesel company, I would like to<br />

give brief information about myself and our company.<br />

In June 1995, I was born in Konya. Although we<br />

have been in the industrial sector since a very young<br />

age, together with our Production Manager and my<br />

brother Abdullah KÜÇÜK, we grew up with our father<br />

Celal KÜÇÜK, who is also our company founder. His<br />

knowledge and experience about diesel fuel systems<br />

has made us one of the world giants today. Umum<br />

Diesel was founded in 1981 as a small workshop.<br />

<strong>May</strong> <strong>2024</strong><br />


Years of experience, knowledge, perseverance, as well<br />

as the understanding of “service to humanity” pushed<br />

us to production. Today, our company produces 7000<br />

kinds of products. And today, I can proudly say that<br />

our company, where I am the Foreign Trade Manager,<br />

exports to more than 150 points.<br />

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

the prominent factors in these products? Product<br />

development and R&D k1. Could you briefly<br />

introduce yourself and your company?<br />

Our product range is quite wide. We manufacture spare<br />

parts of pumps and injectors in diesel fuel systems. We<br />

manufacture valves, O-rings, repair kits and all other<br />

components. We are specialized especially in the valve<br />

group and there are only products that we produce as<br />

a sub-industry in the world. We follow current cases<br />

and take innovative steps.<br />

What makes you superior to your competitors?<br />

Our most important feature is that we love our job.<br />

Our goal was to succeed. Working with dedication<br />

accelerated our success. The value we give to our<br />

customers and the fact that we walk by considering<br />

their interests accelerated our steps.<br />

Are there any investments you are planning in the<br />

short, medium and long term?<br />

Our most important investment in the short term is<br />

to expand our R&D studies and to try to respond to<br />

the needs of the sector in the fastest way possible by<br />

filtering the data we have obtained as a result of our<br />

know-how and experience in manufacturing. In the<br />

long term, we aim to accelerate the production and<br />

shipment issues as much as possible by moving the<br />

number of our production facilities to different points<br />

around the world.<br />

Can you give details about your exports? What<br />

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

markets, foreign promotion, fair participation etc.<br />

strategies?<br />

Today, we export to more than 150 locations. We<br />

will continue to make our name known all over the<br />

world. We meet with our customers regularly and keep<br />

our bilateral relations close. The fairs we attend in<br />

many countries offer us the opportunity to meet new<br />

customers.<br />

<strong>May</strong> <strong>2024</strong><br />


Türkiye’s EV maker Togg starts<br />

working on new B-SUV model<br />

Turkish electric carmaker Togg has started working<br />

on a new T8X model, a B-segment sport utility vehicle<br />

(SUV), the firm’s CEO told Anadolu Agency (AA),<br />

hinting they plan to unveil the new model after sales of<br />

the T10F sedan commence next year.<br />

During a test drive at a Togg campus in Bursa,<br />

northwestern Türkiye, Togg CEO Gürcan Karakaş said<br />

an all-wheel-drive version of the T10X will be offered<br />

for sale this June and July as a limited edition.<br />

“We continue our operations to gradually gain a<br />

foothold in Europe since the end of last year, and we<br />

already established our company, Togg Europe GmbH,<br />

in <strong>May</strong> 2021,” he said.<br />

“Currently, we’re building the infrastructure and we<br />

want to start the pre-order of the T10X in Europe at<br />

the end of this year and start the deliveries of the new<br />

2025 model,” he added.<br />

Karakaş said the carmaker’s overseas target market<br />

strategy was revised after monitoring market dynamics.<br />

They previously planned to start from Scandinavian<br />

countries, making their way to the Netherlands and<br />

Belgium, but there has been a change of plans.<br />

“The sector is advancing quickly and Chinese<br />

carmakers are spreading everywhere, which is why we<br />

decided to enter the markets of Europe, specifically<br />

the ‘triangle’ of Germany, France and Italy, which<br />

make up the biggest European car market, as we feel<br />

confident in our experience and in ourselves as a firm,”<br />

he explained.<br />

Karakaş stressed that they saw record demand for the<br />

new models they put out, as last year they sold all the<br />

vehicles they were planning to make during the year<br />

within 18 hours.<br />

Recent media reports in Türkiye pointed to an increase<br />

in interest in Togg in Europe, namely in Switzerland and<br />

Germany, while the German weekly magazine Stern<br />

also provided comprehensive coverage on the Turkish<br />

car maker and its CEO, including his long career at<br />

Bosch, highlighting Togg has turned into “an object of<br />

prestige for the Turks.”<br />

It also touched upon its contribution to the country’s<br />

economy, comparing it to that provided by flag carrier<br />

Turkish Airlines (THY).<br />

“From the sales, we saw that Türkiye is ready for<br />

such a change to electric vehicles, with customers<br />

purchasing the T10X consciously, and more than 80%<br />

of the sales were for the highest-end version of the<br />

vehicle, and since April 2023 to the end of the year, we<br />

<strong>May</strong> <strong>2024</strong><br />


made the delivery of the first 20,000 vehicles,” he said.<br />

“There is not a single firm in the world known to<br />

have produced 20,000 units of vehicles in their first<br />

year of production and have sold them all, at least<br />

to our knowledge, which is why this is a remarkable<br />

success for our country and every one of us, marking<br />

it a pleasant beginning,” he added. At the same time,<br />

Togg’s sales maintained their momentum in the first<br />

quarter of this year as well propelling it to emerge as<br />

the market leader among electric vehicles with over<br />

4,000 units sold, according to recent industry data.<br />

“So we’re working night and day to follow through after<br />

our first success story.”<br />

Karakaş underlined that their success would continue<br />

with new models.<br />

“We unveiled the T10F in January, but we started<br />

working a year before, and similarly, we’re putting in<br />

efforts to bring success to our next models after the<br />

T10F, preparing the B-segment SUV T8X for this time<br />

next year,” he said.<br />

<strong>May</strong> <strong>2024</strong><br />


Cruise robotaxis back on<br />

the road with human drivers<br />

GM subsidiary Cruise on has said it plans to get its<br />

self-driving cars back on the road without human<br />

drivers after suspending robotaxi service late last year<br />

due to safety concerns.<br />

Vehicles driven by humans are out gathering mapping<br />

data in the Arizona city of Phoenix, which has been<br />

amenable to testing of autonomous cars deployed by<br />

Cruise and Google’s Waymo.<br />

“Our goal is to resume driverless operations,” Cruise<br />

said in a blog post.<br />

“At this stage, no autonomous systems are engaged<br />

and the vehicles will not carry public passengers.”<br />

Cruise suspended all operations of driverless cars in<br />

October after California authorities halted testing of its<br />

vehicles in the state citing safety concerns following a<br />

series of accidents.<br />

California’s decision came after a self-driving car<br />

operated by Cruise ran over a woman who had first<br />

been knocked in front of it by a hit-and-run driver in<br />

San Francisco.<br />

The company was criticized for not being as<br />

transparent as it could have been with regulators<br />

looking into that accident.<br />

“As we continue working to rebuild trust and determine<br />

the city where we will scale driverless, we also remain<br />

focused on continuing to improve our performance and<br />

overall safety approach,” Cruise said in the post.<br />

Since being founded in 2013, Cruise has provided<br />

hundreds of thousands of driverless trips to riders<br />

in San Francisco, Phoenix, Austin, Houston and<br />

elsewhere, according to the company.<br />

Elon Musk revealed that Tesla will pull back the curtain<br />

on its own robotaxi this summer.<br />

The billionaire boss of the electric car maker did not<br />

provide details, saying only in his post on X that the<br />

“Tesla Robotaxi unveil” will come on August 8.<br />

<strong>May</strong> <strong>2024</strong><br />


Cruise ship arrivals in Türkiye hit<br />

13-year high in first 2 months<br />

<strong>May</strong> <strong>2024</strong><br />

The number of cruise ships that arrived in Türkiye in<br />

the first two months of the year was recorded at the<br />

highest level in the last 13 years, local media reported<br />

recently, adding to the momentum observed last year<br />

when the ports within the country welcomed record 1.5<br />

million passengers.<br />

Some 23 ships docked at eight Turkish ports in<br />

January-February, accommodating 23,047 passengers,<br />

according to the data compiled by Demirören News<br />

Agency (DHA) from the Transport and Infrastructure<br />

Ministry.<br />

For the first time, 23 ships arrived at the ports in the<br />

stated period, compared to 14 cruisers that visited in<br />

the same period last year and only five in 2022 in the<br />

wake of the pandemic.<br />

Accordingly, the cruise ships docked at eight different<br />

ports in the first two months of the year, with Kuşadası<br />

port emerging as the busiest in terms of cruise ship<br />

traffic. Istanbul and Samsun, on the Black Sea coast,<br />

welcomed four cruise ships each, while two other<br />

northern ports, Trabzon and Amasra, welcomed three<br />

cruise ships each.<br />

During the same period, six cruise ships docked at the<br />

popular tourist destination Kuşadası in Aydın province.<br />

The western provinces of Çanakkale, Izmir, and Muğla<br />

received one cruise ship each in the January-February<br />

period, according to the official data.<br />

Compared to January and February last year, when<br />

some 10,480 visitors came on board 14 cruise ships,<br />

an increase of nearly 120% was observed in the<br />

number of passengers arriving at Turkish posts. At<br />

the same time, there was a 64% rise year-over-year in<br />

number of ships.<br />

Looking only at ship data, January and February <strong>2024</strong><br />

marked the highest number of ships arriving in these<br />

months since 2015.<br />

Although the number of ships in the first two months of<br />

the year exceeded the figures seen in 2011, 2013, and<br />

2015, the number of passengers fell slightly behind.<br />

Moreover, based on the data from the General<br />

Directorate of Maritime Affairs, in the 13-year period,<br />

the years with the highest number of cruise ships and<br />

passengers in January and February were as follows:<br />

15 ships with 28,923 passengers in 2011, 12 ships with<br />

29,474 passengers in 2013, and 22 ships with 22,484<br />

passengers in 2015.<br />

The lowest number of cruise ships arriving at Turkish<br />

ports in two-month period was observed in 2020,<br />

with a single ship and 823 passengers and a year<br />

earlier, with four ships that brought in 564 passengers,<br />

according to the data.<br />

The number of cruise ship passengers surged by<br />

nearly 50% annually in 2023 compared to the year<br />

before to more than 1.5 million, breaking a target set by<br />

the sector and officials.<br />

Lively cruise tourism and a boost in arrivals contribute<br />

significantly to overall performance in the tourism<br />

industry, one of the key pillars of the Turkish economy.<br />

Total foreign arrivals to the<br />

country reached nearly 2.3<br />

million in February, compared<br />

to the 1.87 million recorded<br />

in the same month last year,<br />

according to official data.<br />

This figure lifted the January-<br />

February arrivals by 12%<br />

year-over-year to 4.34 million,<br />

the Culture and Tourism<br />

Ministry data revealed earlier<br />

this month. Last year, Türkiye<br />

welcomed 49.2 million foreign<br />

holidaymakers, up 10.4% from<br />

2022. Türkiye aims to attract<br />

60 million visitors and generate<br />

$60 billion in tourism revenues<br />

in <strong>2024</strong>.<br />


Millions of recalled Hyundai,<br />

Kia vehicles remain on the road in US<br />

Hyundai and Kia have acknowledged that there’s little<br />

hope of repairing most of the affected vehicles until<br />

June. In September, Hyundai and Kia issued a recall of<br />

3.4 million of its vehicles in the United States with an<br />

ominous warning:<br />

The vehicles should be parked outdoors and away<br />

from buildings because they risked catching fire,<br />

whether the engines were on or off.<br />

Six months later, most of those autos remain on<br />

the road — unrepaired — putting their owners, their<br />

families and potentially other people in danger of fires<br />

that could spread to garages, houses or other vehicles.<br />

Hyundai and Kia have acknowledged that there’s<br />

little hope of repairing most of the affected vehicles<br />

until June or later, roughly nine months after they<br />

announced the recalls.<br />

The two companies attributed the delays, in part, to<br />

the huge number of vehicles involved, among the<br />

largest recalls they’ve ever done.<br />

The fires, they say, have occurred when brake fluid<br />

leaked onto the circuit boards of antilock braking<br />

systems, triggering an electrical short and igniting the<br />

fluid. The companies say they’ve been unable to obtain<br />

enough of the needed parts — fuses that reduce the<br />

boards’ electrical currents — to fix most of the affected<br />

vehicles.<br />

Among them are some of their top-selling models for<br />

the 2010 through 2017 years, including Hyundai’s<br />

Santa Fe and Elantra and Kia’s Sportage and Forte.<br />

Safety concerns<br />

Hyundai and Kia have urged the vehicles’ owners<br />

to contact the companies or dealers if they see<br />

dashboard warning lights or smell something burning.<br />

In the meantime, both companies contend that despite<br />

the ongoing risks, the cars remain safe to drive.<br />

When they announced the recalls in September, the<br />

two automakers reported that the defect had caused<br />

56 vehicle fires and “thermal incidents,” which include<br />

burning, melting and smoking.<br />

No injuries or deaths have been reported, either before<br />

or since the recalls were announced.<br />

Safety advocates complain, though, that the repairs<br />

are taking far longer than fixes from auto recalls<br />

normally do.<br />

Typically, such repairs begin though some can take<br />

longer if automakers cannot quickly determine the<br />

cause, which isn’t the case with the Hyundai-Kia<br />

problem.<br />

While awaiting repairs, owners of the affected vehicles<br />

need to park outside and away from other vehicles to<br />

minimise the risks.<br />

Advocates say they wonder, too, why regulators at the<br />

National Highway Traffic Safety Administration haven’t<br />

forced the companies to repair the leaks.<br />

<strong>May</strong> <strong>2024</strong><br />


Türkiye aims to reach<br />

7.2 GW nuclear capacity by 2035<br />

<strong>May</strong> <strong>2024</strong><br />

Türkiye aims to reach 7.2 gigawatts (GW) of nuclear<br />

capacity by 2035 and 20 gigawatts by 2050 in its<br />

energy mix, a senior official said Monday, highlighting<br />

the “critical role” nuclear energy plays in reaching the<br />

country’s net zero emission target.<br />

“We want to use renewable energy. There is a<br />

huge potential in our country. We want to increase<br />

the existing capacity. But we must balance these<br />

intermittent resources such as solar and wind with the<br />

base load,” Energy and Natural Resources Minister<br />

Alparslan Bayraktar said in his address at the two-day<br />

international nuclear energy event ATOMEXPO-<strong>2024</strong><br />

that kicked off in the Russian coastal city of Sochi.<br />

Nuclear energy plays a critical role in reaching the<br />

country’s 2053 net zero emission target, and to this<br />

end, a further two nuclear plants are planned in<br />

addition to the Akkuyu Nuclear Power Plant (NPP),<br />

which is under construction in the Mersin province on<br />

the Mediterranean coast.<br />

Bayraktar noted that the targets set by Türkiye in<br />

nuclear energy are compatible with global nuclear<br />

energy targets and said, “We aim to reach a total of 12<br />

reactors and a nuclear power of 15,000 megawatts,<br />

with probably four reactors in three different locations<br />

in Türkiye.”<br />

“By 2050, that is, in the next 20-25 years, Türkiye<br />

needs to reach an installed capacity of 20,000<br />

megawatts,” he added.<br />

Bayraktar explained that the country’s nuclear energy<br />

program, which he described as a “huge undertaking”<br />

is in line with the declaration made at the last U.N.<br />

climate conference, COP28 when the international<br />

community agreed that the world needs to triple its<br />

nuclear capacity by 2050.<br />

He said that with the country’s expanding energy<br />

market, which is set to grow on average by 4% per<br />

annum over the next two decades, changes are<br />

required to the electricity market along with more<br />

energy to match the growth in industrial demand.<br />

To meet this demand, Ankara is set to prioritize more<br />

power generation from renewable sources as well as<br />

nuclear energy.<br />

“We have a great potential for renewables and energy<br />

efficiency, but we absolutely need to add nuclear<br />

energy into our energy mix,” Bayraktar said.<br />

The nuclear share of the country’s power basket will<br />


start with the construction of four reactors in the<br />

Akkuyu Nuclear Power Plant (NPP) with the Russian<br />

State Atomic Energy Corporation (Rosatom), with the<br />

aim of reaching 7.2 GW of nuclear capacity by 2035<br />

and 20 GW by 2050.<br />

According to the minister, this capacity target can<br />

be achieved by initially installing 4.8 GW in Akkuyu,<br />

followed by another four reactors in a second plant<br />

in Sinop, and four more in a third plant in the Thrace<br />

region.<br />

Small modular reactors would also contribute around 5<br />

GW over the next 20 to 30 years, another area that the<br />

country would also prioritize over the next few years for<br />

the transition to carbon neutrality.<br />

To achieve the country’s decarbonization goal by 2053,<br />

Bayraktar said that the country not only needs to<br />

develop nuclear infrastructure but also to develop and<br />

train a professional and skilled workforce to develop<br />

this industry.<br />

He sees that cooperation with Rosatom and relevant<br />

private entities locally and internationally will enable<br />

this development.<br />

“We have a very important localization program with<br />

Rosatom, and we are actually building an ecosystem in<br />

Türkiye for nuclear energy.”<br />

Following the established cooperation with Rosatom<br />

for the construction of Türkiye’s first nuclear power<br />

plant, the Akkuyu plant in Mersin, Ankara would like<br />

to extend this partnership for the construction of<br />

the second plant in Sinop in the Black Sea region,<br />

Bayraktar said.<br />

He also shared that interest has been shown from<br />

other countries, and in particular companies in China<br />

and South Korea, for investment in the country’s<br />

nuclear market.<br />

Referring to the project in the Thrace region, Bayraktar<br />

said: “We have ongoing negotiations with China on the<br />

Thrace side. We want to clarify and finalize this year.<br />

We need to pass the agreement phase and move on to<br />

the construction.”<br />

Moreover, he reiterated the aim of commissioning the<br />

first reactor of Akkuyu NPP this year, highlighting the<br />

efforts he said were undertaken in this direction.<br />

The minister also called for a unified stance in tackling<br />

global issues such as climate change and global<br />

warming and in achieving carbon neutrality goals in<br />

order to ensure a secure, and brighter future.<br />

He also advocated for nuclear energy as part of this<br />

“better future,” arguing the need to remove all artificial<br />

barriers like trade restrictions and financial sanctions<br />

on this sector.<br />

Established in 2009, the ATOMEXPO International<br />

Forum is one of the key congress and exhibition events<br />

in the global nuclear industry.This year, over 4,500<br />

participants are attending the event from 75 countries,<br />

according to a statement from the organizers.<br />

<strong>May</strong> <strong>2024</strong><br />


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