Abstract
Vehicle sales came in at 55,111 units in March 2009 representing a 2.7% growth
year-on-year. The
Automotive Distributors’ Association (ODD) said
the figure was largely due to the government’s tax cut
on
consumption. Personal car sales were 19% up year-on-year to 40,622 units.
Light commercial vehicle
sales fell 26% year-on-year to 14,489. Including
March’s figures, total sales fell 20% year-on-year to
96,459 in the
first quarter of 2009, including sales of personal cars down 7.6%
year-on-year, and light
commercial vehicles sales fell 39.4% year-on-year.
A key factor boosting sales is a preference for cash
payment, with around
70% of all vehicle sales in April made in this way, despite weakening
credit
restrictions.
Total automotive production (not including
tractors) was 218,112, a 54% year-on-year drop, in the period
to end-April
2009. April production figures were up on March by 28%, however. Meanwhile,
the share of
imported vehicles in total sales in the period was 59.4%,
compared with 56.2% in 4M08. Volkswagen led
retail sales, selling 11,564
units of imported passenger cars and LCVs. Domestic wholesales fell 35% to
57,883 units in the first four months, mainly due to commercial vehicles down
by 43%, while domestic
factory sales of passenger cars were down 24%. In
April, the OSD said car output fell 43% year-on-year
in March, to 37,125
cars, with total automobile output down 53% to 58,892. The OSD also revealed
that
in the first quarter of 2009, passenger car production declined by
51% to 91,155 units and total
automobile output fell by 59% to 142,567
units. The total number of passenger cars and commercial
vehicles sold was
up 30% year-on-year in May. May sales saw a minor increase of 2.5%
year-in-year in
the total number of autos sold, while figures indicate
that passenger car sales increased by 22% m/m, as
the number of commercial
vehicles sold increased by 15.6% month-on-month.
In April 2009, Italian
car maker Fiat sold 10,032 cars and light commercial vehicles in Turkey, a
rise of
40% year-on-year. Fiat currently heads the domestic market with
19.1% and 38% of the commercial
vehicle market share. The company’s
management said in May that Fiat’s target was to maintain its
market
share to the end of 2009.
The market is waiting to see how the
government’s temporary private consumption tax break, which
comes
into force on June 15, affects the market. It is not clear if the
government’s wider stimulus package
will include steps to boost the
automotive industry, although some reports suggest the government and
auto
sector representatives are discussing a three-step plan to revive the sector.
BMI’s view is that the
stimulus package will help boost the auto
industry, although the Association of Automotive Parts &
Components
Manufacturers (TAYSAD) is less certain, suggesting this may help clear the
backlog of
vehicles, but will have a limited impact further down the
line.
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