The paper deals with the analysis of opportunities and challenges of TEG and ETC technologies for a compact car, powered by a turbocharged SI engine. Specifically, the benefits achievable by TEG and ETC have been investigated by simulation analyses carried out by a dynamic engine-vehicle model, validated against steady-state and transient experimental data. The in-cylinder processes and friction losses of the engine are modeled by a black-box scalable parametric approach while grey-box dynamic models are applied for intake/exhaust manifolds and turbocharger. The TEG model is based on existing and commercial thermoelectric materials, specifically Bi2Te3. The simulations have been carried out considering standard driving cycles (i.e. NEDC, WLTC) and the results evidence that significant improvement of fuel economy and CO2 reduction can be achieved by suitable management and configuration of the WHR systems, depending on engine speed and load and auxiliaries demand.