Profitability warnings and contraction news of European automotive companies, especially Germany, are on the agenda of the automotive world. This situation is also very important for Türkiye, which carries out a significant portion of its exports to this region.
OSD Chairman Cengiz Eroldu stated that the contraction in the German automotive industry has had a profound impact on the global automobile market and said, “This seriously shapes the expectations for 2025. From our perspective, considering that Europe is our most important export market, we see the possibility of shifting the vehicle surplus that may occur due to the potential market contraction in Europe to the Turkish market as a serious risk.
The contraction in European markets and idle production capacity may negatively affect our production by causing a decrease in the exports of the Turkish automotive industry. In order to reduce the impact of these fluctuations in export markets, we need to increase the share of domestic vehicles in the domestic market. We consider it important to develop policies to strengthen Turkey’s eroding production competitiveness; “Protecting our existing facilities has become even more vital in this process,” he said.
Chinese brands, which are rapidly rising in the Chinese market, especially in the electric vehicle segment, are reducing the market share of European and especially German manufacturers. According to data from the German Automotive Industry Association (VDA), German automobile manufacturers, whose share in the Chinese market was 26.2 percent in 2019, decreased to 20.3 percent in the first half of 2024.
During the same period, the market share of Chinese brands increased from 30 percent to 66 percent. This shift in consumer demand in China has led to a review of profit expectations for German manufacturers, increasing financial pressure. On the other hand, rising energy and raw material costs challenge production processes and prevent German manufacturers from offering competitive prices. In light of all these developments, we can say that European automotive manufacturers are going through a serious test in terms of maintaining their global competitiveness.”
Stating that these taxes are balancing the low-cost production advantage provided by state support for Chinese manufacturers, Eroldu said, “More time and data are needed to evaluate the full impact of these newly introduced additional taxes. However, predictions indicate that Chinese manufacturers may reduce their sales by reducing their price advantage, causing the prices of Chinese electric vehicles to rise in the European market.
These tax regulations also caused tension in trade relations between China and the EU. Following this decision, the Chinese government announced that it could take retaliatory measures by filing a complaint with the World Trade Organization (WTO). The start of a commercial conflict between the two sides may have an impact on trade balances in the long term. Similarly, in our country, an additional tax was introduced on vehicles of Chinese origin and it was aimed to create a positive impact on the deteriorating foreign trade balance, especially in the automotive sector.
We consider the measures taken to be very important in the short term to protect our industry. “However, these measures will have more significant effects in the long term and will accelerate the decisions of Chinese manufacturers to produce within the EU and in our country,” he said.
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Source link: https://www.donanimhaber.com/osd-avrupa-daki-arac-fazlasi-turkiye-ye-kaydirilabilir–184339
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