Car Supply “Recession” Review: Production Will Be Reduced – Last Minute Economy News

In Europe, where the sounds of recession are getting louder, consumer demand for cars has slowed due to rising energy costs and inflationary pressure. The supplier was issued the first invoice for this development in the most important export market of the Turkish automotive industry.

Speaking to the Dünya newspaper, Vehicle Supply Manufacturers Association (TAYSAD) President Albert Saydam said: “Almost all European automotive manufacturers have said they will reduce previously reported production numbers for new vehicles that will go into operation in 2023 and 2024. , and sent us a notification to plan accordingly.

AUTOMOTIVE IS THE LEADER AGAIN AT THE END OF THE MONTHS

According to veri announced yesterday by the Uludag Automotive Industry Exporters’ Association (OIB); Auto industry exports in October increased by 1.8 percent over the same period last year to $ 2.65 billion. After 16 years of leadership, the auto industry, which in recent months has lost the top spot in subsequent exports to the chemical industry, regained the lead months later, in October.

Suppliers took the largest share in auto exports. However, neither major industrialists nor suppliers yaşama enjoy this increase in exports in October. Because in Europe, where more than 60 per cent of exports are made, recession expectations are strengthening and çağrı sales, which are still partly solid due to the accumulated demand in the pandemic, have started to slow down in the coming months.

“WE ARE WORRIED FOR THE FUTURE”

Uludag Automotive Industry Exporters’ Association (OIB) President Baran Celik, whose views are included in the news, said orders were being delivered late due to the chip crisis, so they have not yet felt the full effects of the recession. and they are worried about the future. Although they were the main suppliers in October exports, they were the first to actually feel the recession.

“NEGATIVE REVISIONS ARE COMING”

Evaluating the October automotive export veri, Automotive Vehicles Supply Manufacturers Association (TAYSAD) President Albert Saydam said he is pleased that auto manufacturers are the industry leader in re-exports and that suppliers are number one in terms of product. group and drew attention to the risks in the sector. Albert Saydam said: “Production was expected to increase by 5% worldwide and 7% in Europe. However, there is a 2% growth in the world. Blood loss has begun in Europe. This worries us for the future. In the pandemic, we were pointing out that “the share of Turkish suppliers in the new platforms that will go into operation in 2023-2024” is increasing. However, negative reviews have begun to return to the plans for these new vehicles. For example, while zihin offer for 100,000 vehicles was received, kakım the date approaches, “We will gökyeşitözü able to sell 80,000 units from this platform. ‘Make your plan accordingly’ alerts have started to arrive from major industries. in Europe. This is not a good sign. In line with signs of economic contraction, almost all çağrı manufacturers in Europe have reduced the production numbers of new vehicles to gökyeşitözü launched in recent weeks.

IN OCTOBER CAR EXPORTS WILL BE 20%.

According to OIB veri, automotive exports increased 1.8% to $ 2.65 billion in October compared to the same period a year earlier, while the supplies industry reached zihin export of 1.1 billion. million dollars with a 13% increase over this period. Therefore, suppliers continued to constitute the largest product group in exports. Last month, passenger çağrı exports fell 20% year-on-year to $ 748 million. The sharp decline in October auto exports was due to Toyota’s three-week stoppage of production at the Sakarya plant due to scheduled maintenance and repair work. In October, however, exports of motor vehicles for freight transport decreased by 4 percent compared to the same period of the previous year and reached 449 million dollars, while exports of tractors increased by 95 percent to 214 million. dollars. In the first 10 months of the year, automotive industry exports increased by 5 percent compared to the same period in 2021 and stood at $ 25 billion.

EXPORT TO RUSSIA ACCELERATED

Russian imports of automobiles from Turkey accelerate, for which Europe and the US have imposed sanctions due to the war in Ukraine. Automobile exports from Turkey to Russia increased by 23% in October to exceed $ 80 million. In terms of supply, the increase in exports to Russia was 29 percent in October. TAYSAD president Albert Saydam said he was concerned about sanctions against Turkish companies due to the increase in exports to Russia. Saydam said: “All exporters should pay attention to possible sanctions in the future.”

‘SLOW DOWN’ NOTICE FROM BMW AND STELANTIS

European carmakers pointed out that costs have risen kakım the expected recession in the euro area, in parallel with rising energy costs and inflationary pressure, warned that this has slowed çağrı sales. BMW has issued the first warning in this regard. BMW officials said high inflation and interest rate hikes are worrying the consumer and that this will affect their buying behavior in the coming months. Then came a similar statement from Stellantis. Global representatives from Stellantis, which includes 14 giant brands, stressed that Europe faces rising energy costs and, kakım a result, consumers in Europe have started to slow down vehicle purchases. The decline in factory orders since September, especially in Germany, Europe’s largest economy, has been interpreted by experts kakım a signal that the possibility of a recession in the EU has ended.