Turkish Automotive Market Might Set Record

18In 2015, Turkish automotive market expected to achieve the best historical score, if any additional regulation would not be enacted, Ali Kibar, Chairman of Hyundai Assan

Unless any additional regulation would be enacted, this year the sales of automotive would reach the historical highest score, according to the comment of Ali Kibar, Chairman of Hyundai Assan

He stated a great sale happened in light commercial vehicle segment and passenger cars. Pointing out the total market would likely achieve the best historical score if any additional regulation would not be enacted, Kibar recorded a new record might be in question. In this case, 80 percent of the passenger cars, which are met via imports, were upsetting; he said it is necessary to take care of foreign trade deficit with some sensitivity

Stating recovery has been seen in the European market, but income erosion would happen stemming from currency, the market has gotten activation in Spain, Italy and France, recovery is observed in the markets of Germany and the UK. There is also growth in the domestic market, Kibar continued; “The products which come via euro one year ago, today they are also in the same price. In this meaning there is a gradual recovery for consumers in purchasing power in terms of adopting prices which have been rated by euro. Our own production cannot meet the demands for exports. There is a demand over 50 percent higher than our current production number. We cannot meet the orders. For this we try to use our capacity utilization in better way, more productive. However profitability is different thing, order is different thing. The cost pressure is continuing in which raw material inputs’ price is carried out by dollar, as for sales price is made via euro. But, we see recovery signals in European countries in the aspect of order.”

Over the question about effects of valuation of dollar in the global markets to the sector and its investments, Kibar responded; “Of course, daily currency fluctuations affect the sector and investments. If you take precaution by foreseeing in time, you could be one step ahead. There are sectors in which this can be implemented; also there are sectors that cannot be done. It does not mean hedge mechanism is used for every sector. Our exports dominantly are shipped to Euro zone. As disadvantageous condition of currencies, of course it makes up a weakness when calculation is made as dollar in Turkey’s income and expenditure balancing. We see consumption markets in Europe have begun to recover. In the upcoming months prices based on euro in same commodity groups would increase. This means inflation would raise some in Euro zone.”

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