Question-and-Answer Session
Operator
(Operator instructions). The first question comes from Rich Kwas with Wells Fargo Securities.
Rich Kwas – Wells Fargo Securities
I had a few questions regarding just turbochargers and how you think about mix here for 2010. I know that it is a little early at least what you have disclosed so far but you know I guess, Robin or Tim, can we – how do we think about the volume volatility that could occur in Europe, and then how that plays out with the improving mix that you are starting to see on your end?
Tim Manganello
Good morning Rich. We are starting to see a change in mix back towards both premium vehicles and larger sized vehicles and a decline like I said in my report in the smaller vehicles. We are starting to see a rebound back towards diesel, there is a projection that we think that diesel's probably dropped from about 50 to 53% of the penetration rate last historical – recent historical past, down to about 44% plus or minus, we think that that is going to come back about another 4% increase to about 48% plus or minus, so we are seeing a shift back a little bit back towards diesels.
Obviously, we are seeing a tremendous growth in downsized turbocharged gas engines and so turbochargers we're seeing a strong growth platform; over the next 15 months we will be launching 20 new turbocharger programs that are either new programs or conquest programs from our competitors. And we will get into I think it is November 9 to our book of new business, but of these 20 new programs we're working on, it is about a third America, third Europe, a third in the rest of the world.
Rich Kwas – Wells Fargo Securities
Okay. And then you know your primary competitor in that business talked about gaining share last week as 2010 unfolds, seems like they have been picking up some business on larger displacement engines, can you just give us some more color on how that is all playing out with the primary competitors of the turbocharger side?
Tim Manganello
Bob, I'm not going to speak much about Honeywell, but they may have lost share, so they are trying to gain some back. But what I foresee, the focus we had for our long-range plan is we will be maintaining share in a very fast-growing market. So if they're gaining share, must be with somebody else.
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