Campaigns will gain weight in the automotive industry, where the market has contracted beyond expectations.

In his evaluation to Bloomberg HT, BMW, MINI and BMW Motorrad General Manager Can Mete Paker evaluated the expectations for the last quarter of the year in the automotive industry, the difficulties in accessing credit and the transformation in the electric vehicle market.

Stating that the last quarter of the year was traditionally strong in the automotive industry, he said that they expected the contraction in the market to slow down, but this expectation did not come true. While he pointed out that the fund-related liquidity squeeze in the financial markets also delayed the recovery process, he stated that the automotive market could complete the year with a volume of between 1 million 150 thousand and 1 million 200 thousand units.

“Brands will make campaigns to sell their existing vehicles”

Stating that they are used to working with different scenarios in the Turkish automotive market, Paker said that many brands fixed their production plans while the contraction continued in the third quarter. "We always work with different scenarios in Turkey. Many brands stabilized their production in the third quarter, when the contraction continued. All brands will make campaigns to bring their existing vehicles to consumers," he said.

Pointing out that campaigns can support sales in the last period of the year, he emphasized that price and financing conditions continue to be decisive in consumers' purchasing decisions.

“Access to credit is quite limited”

Stating that limited access to credit in the automotive industry has changed consumer behavior, Paker said that customers who want to buy a car take more into consideration their existing cash savings and the value of the vehicles they will trade in, as well as financing options. "When a customer buys a car, they look at the price, loan, trade-in and monthly payments. When there is no loan element, evaluating the cars they have with cash or the cars they will trade in comes to the fore," he said.

He stated that consumers' sensitivity to prices and campaigns continues, and pointed out that access to credit is limited in the premium segment.

Stating that the special credit opportunities offered for domestically produced automobiles constitute a significant advantage for consumers, Paker said that financing conditions are decisive in sales preferences. "Having special loans for domestic automobiles is very important for customers. I expect the sales share of domestic automobiles to increase in the coming period," he said.

“Electric cars support the premium segment”

Stating that the electrification process is gaining momentum in the automotive industry, Paker stated that electric cars are one of the important elements that support the premium segment. Stating that the market share of hybrid cars reached 33 percent in the first nine months of the year, he said that consumers' orientation towards electric and hybrid technologies is important for the transformation in the sector.

Pointing out that consumer concerns about battery health have decreased with the widespread use of electric vehicles, Paker stated that he does not think that battery life will be a hindering factor in electric car purchasing decisions.

Sharing his expectations for the future of the electric car market, Paker said that he foresees a significant increase in the share of electric vehicles in the total market in 2027. "There will be a significant increase in the rate of electric vehicles in 2027. I do not think battery life will be a hindering factor," he said.

Pointing out that the gradual decrease in battery health concerns about electric cars supports the transformation in consumer preferences, he stated that he expects electric vehicles to increase their weight in the automotive market in the coming period.