Statement on SCT and Credit Limits from Honda Turkey Vice President

Evaluating recent developments in the automotive sector, Honda Turkey Vice President Bülent Kılıçer shared expectations for updates to credit limits and SCT bases within this year.

In statements made to Bloomberg HT, Honda Turkey Vice President Bülent Kılıçer evaluated recent developments in the automotive market, financing access conditions, year-end sales expectations, and the effects of the European Union's "Made in EU" approach on the Turkish automotive sector. Stating that the market needs regulations to support demand, Kılıçer expressed that they expect updates to credit limits and SCT bases within this year. Recalling that thresholds were raised by 20-30 percent in past years, Kılıçer noted that such a move would reflect on both prices and market growth.

Stating that price cuts and campaigns in the sector might deepen in the last quarter of the year due to the impact of competition, but that the room for discounts has narrowed due to brands' cost and profitability balances, Kılıçer conveyed that cash tightness in financial markets has led to order cancellations and that this situation could be reflected in October data. Pointing out that the EU regulation harbors risks in the long term, Kılıçer stated that, despite the base effect, the market could close the year with over 1 million sales and that Honda Turkey anticipates increasing its sales by 10 percent.