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Fiat's joint venture in Turkey, Tofas, is planning a $1-billion investment to build a family of compact cars replacing the Bravo in Europe. Three new cars will be built starting next year, primarily for export. According to sources of Automotive News Europe, the family will include a hatchback, sedan and station wagon.
The hatchback and the sedan will replace the Bravo and the Linea, respectively. According to Tofas last year, it would invest $520 million to build 580,000 units of a new sedan model. It recently announced that it would produce 700,000 units of a new hatchback and station wagon in Turkey, for a total investment of $1 billion starting this year while the production will run from 2016 to 2023.
Tofas said in a filing with the bourse that a significant portion of the vehicles are for exports, adding that discussion with Fiat on the details for the conditions of investment, sales and procurement are already in the final stage. Tofas saw sales of the Bravo drop 59 percent to 3,078 units in the first nine months of 2014, according to JATO Dynamics.Read the entire article Fiat’s Turkish JV eyes $1B investment to build Bravo successor
Jaguar Land Rover is considering opening a new production site in either Austria or Turkey as it bids to increase its capacity, according to a report by the Birmingham Post, citing highly placed company sources. The carmaker had been mulling to open a site in the southern part of the United States, but it executives are getting attracted by the lower-cost factory developments in Turkey and Austria.
The British group, now owned by Tata Motors, is trying to expand its production outside the United Kingdom, its traditional turf. According to the Birmingham Post, JLR is hesitant to expand its production beyond its three plants in the UK due to high wage costs as well as recent pay disputes with trade unions.
In October 2014, JLR opened a new site China in October and in 2016, the carmaker intends to start production in Brazil. A source even told the Birmingham Post that Europe could be “currently ahead of America." The carmaker sold 462,678 vehicles globally in 2014 and is aiming to top 500,000 this year.Read the entire article Jaguar Land Rover mulls new site in Austria or Turkey
Auto production in Turkey is seen to post a new record in 2014, thanks to a recovery in vehicle demand in Europe that is boosting exports from the country, according the Automotive Manufacturers Association (OSD). OSD expects auto production to surge 11 percent to 1.25 million units this year, from 1.13 million units last year.
OSD chief Kudret Onen is confident that vehicle output will break the record this year thanks to rising exports. He remarked increased capacity and exports will help the Turkish auto industry to build more than 1.19 million units.
He said he expects exports to be at record levels at around 910,000 units. Turkey's current production record was made in 2011, when it built 1.19 million units. The rising production has been attributed to Turkey’s geographical position as a link between Asia and Europe as well as to the country’s relatively cheap labor costs.Read the entire article Auto output in Turkey expected to reach 1.25 million units this year
Toyota Motor Corp's subsidiary in Turkey is targeting to hike production by around 46 percent in 2014 to 150,000 vehicles and concentrate more on exports across Africa and the Middle East to offset effects of the weak vehicle market in Europe, chief executive Orhan Ozer told Reuters in an interview.
Ozer said that the output increase will bring the Toyota Motor Manufacturing Turkey 's Adapazari site to capacity and will reflect the full-year effect of production of the Corolla passenger car, which it has been building since June 2013.
Ozer remarked that Toyota's headquarters in Japan will decide by the end of 2013 whether to commence output of a new model in Turkey.Read the entire article Toyota unit in Turkey eyes 150,000 vehicle output by 2014
Vehicle sales in Turkey are expected to reach around 820,000 units this year, according to Tofas chief executive Kamil Basaran. Tofas, a joint-venture between Fiat and Koc Holding, reiterated its production target for 2013 at 255,000 vehicles, of which 160,000 units will be exported. Tofas built 256,428 vehicles and exported 154,069 units in 2012.
Basaran told Reuters that economic conditions in Turkey in next month may results to a slightly lower than expected results, citing rising interest rates and a weakening Turkish Lira. He remarked that in September and October, the rising cost of loans, as well as exchange rate increases, little by little will be added into vehicle prices. He noted there will be an increase in prices of imported brands, due to pressure from the euro and dollar, adding that "competition will become more of an issue," he said.
Tofas imports Fiat Group vehicles from the Fiat, Alfa Romeo, Lancia, Jeep, Maserati and Ferrari brands. The Turkish economy only jumped 2.2 percent in 2012 as local demand slowed down. The Turkish economy is expected to grow between 3 and 4 percent this.Read the entire article Vehicles sales in Turkey seen to hit 820,000 units this year
Hyundai may expand the production capacity of its Izmit site in Turkey to 300,000 annually, according to the plant’s head of production, Uygur Kosal. Hyundai is currently expanding the site’s annual capacity from 125,000 vehicles to 200,000 units to accommodate output of the new i10 minicar this September. Hyundai is planning to build the i10 for Europe in Turkey instead of India.
Kosal said the plant’s capacity may be expanded to 300,000 after they reach the planned capacity. The site also builds the i20 subcompact. According to LMC Automotive, Hyundai may need the output increase for the i10, as they expect the minicar to sell in much higher volumes than its predecessor.
LMC analyst Carol Thomas remarked that the strong i10 sales means that Hyundai will either have to importing a proportion of i10s from India or expand the capacity of its Turkish site further.Read the entire article Hyundai may expand Izmit site capacity to 300,000 units
Hyundai will hike the annual output capacity of its Izmit site in Turkey to 200,000 units to prepare for the shift of production of i10 minicar replacement from India. The site also produces the i20 subcompact. The increased output at the Izmit site will mean that Hyundai will locally build around 90 percent of all vehicles sold in the region.
The South Korean carmaker’s site in Czech Republic could build 300,000 annual, while its St. Petersburg plant in Russia can produce 150,000. In 2012, Hyundai posted a 10.5-percent growth in vehicles sales the Europe Union to just below 400,000 units, according to the manufacturers' association ACEA. Hyundai, however, failed to match last year’s growth as it posted a 2-percent drop in sales to 176,157 in the first six months of 2013.
Hyundai is expecting the new i10 to jump-start growth again. Hyundai will unveil the i10 at the 2013 Frankfurt auto show in September and will roll the model out in Europe at the end of the year. Just like the current car, the new i10 will be available in five-door, gasoline versions only. The Izmit site will also produce all the models of the replacement for the i20 at the end of 2014.Read the entire article Hyundai to boost Izmit, Turkey site capacity to 200,000 units
Tofas, a joint venture between Fiat and Koc Holding, is expecting the car and van market in Turkey to post a 4-percent growth this year, as lower interest rates is encouraging consumers in the country to spend more. Okan Bas, Fiat's business director for Turkey, disclosed that Tofas expects vehicle sales in Turkey to reach around 810,000 vehicles -- 600,000 cars and 210,000 vans -- in 2013.
Carmakers in the country sold 778,000 vehicles -- 556,000 cars and 222,000 vans -- in 2012. In its previous full-year forecast, Tofas expected vehicle sales in Turkey to decline in 2013 to 750,000 units. According to data from the Automotive Manufacturers' Association, Turkey's passenger-car market surged 14 percent to 323,187 units in the first five months of 2013.
This growth prompted Tofas to update its forecast, despite the political protests in Istanbul and other cities last month. He disclosed that there is not "any difference" in car sales between the first two weeks of June 2013 and the same period in 2012.Read the entire article Fiat’s Tofas expects bigger sales in Turkey due to lower interest rates
Opel, General Motors’ bleeding European unit, will try to counter its loss-making ways in the region by exporting its products to Russia and Turkey, GM chief executive Dan Akerson told Bild am Sonntag. Akerson told the German daily that Russia is of “great importance” for Opel. GM’s top honcho remarked that in the next few years, the vehicle market in Russia could become bigger than the one in Germany.
Opel chief executive Karl-Thomas Neumann said that the brand is growing almost twice as fast as the Russian market with sales of over 80,000 in 2013. Neumann told Bild am Sonntag in the same interview that Russian consumers consider Opel to be a "quintessentially German brand" in Russia, regarding it as a near-premium brand.
Neumann told the German daily that they expect a similar development in Turkey, where they predict to sell around 50,000 Opels a year. He remarked that Opel will continue its export campaign after penetrating markets in Australia, Chile and Singapore in 2012 and the United Arab Emirates this year.Read the entire article Opel to offset European losses by exporting to Russia and Turkey
As part of efforts to increase the automotive sector’s annual exports in Turkey to $75 billion in the next decade, the government has doubled tax breaks on investment in this industry, according to Economy Minister Zafer Caglayan.
Turkey will have to increase exports in order to cut its present account deficit, the main economic weakness in the nation and a major factor holding it back from getting an eagerly awaited second investment grade rating. This investment scheme, which extends from a program that debuted in 2009, will provide tax breaks of as big as 60 percent for new investments, a 30 percent increase from last year, and incentives that include deductions on employee costs. In a news conference, Caglayan said that they’re going into a new chapter in this sector where they’re using a “new road map.”
Turkey hopes to increase exports so that it could reduce a big current account gap due mostly to the quick-growing economy's high energy imports and ensuing trade deficit. The government is aiming for $500 billion of total exports by 2023. Of this figure, $75 billion is from the auto industry compared to $20 billion from the sector in 2012.Read the entire article Turkish government has doubled tax breaks on investment in the auto industry
The economic uncertainty in Europe has affected Turkey's auto industry in some degree even if it has been touted as having one of the biggest growths in the last decade. Auto sales in Turkey have experienced huge gains in one decade but they’re now predicted to drop by 10% this year. Nevertheless, its government continues to seek to triple auto production over the upcoming decade.
Its government aims to make the country rank as one of the top 10 biggest economies by 2023, which is the centennial anniversary of the Republic of Turkey. If Turkey becomes successful, it may rise right up to the top auto producing nations with a yearly output of 4 million units, from having produced 1.2 million units in 2011. Turkey is aiming for this goal amid the struggles that western Europe nations have had in saving factories and jobs in a market that is on its fifth straight year of decline.
The automotive industry is already the No. 1 exporter in Turkey but by 2023, it’s expected to export parts and vehicles valued at about $75 billion, an increase from $20 billion in 2011. This may seem to be a difficult target to meet but it should be noted that the auto industry’s exports have been increasing in the past few years. Its vehicle exports in 2011 increased by 5% to 801,112 units. Turkey's Ministry of the Economy said that component exports increased by 26% to $8.3 billion.Read the entire article European automakers bet on Turkey to boost sales
Opel believes that its new Astra four-door compact sedan will boost its growth in Turkey. Opel sales chief Alfred Rieck released a statement right before the opening of the biennial Istanbul auto show. He said that the company is targeting sales of over 50,000 cars in Turkey and to widen its share from 6.0% to an estimated 6.3%.
Ozkan Keklik, managing director for Opel in Turkey, said that the Astra, which has a starting price in Germany of 18,270 euros ($23,700), is believed to be the key to the success of this strategy.
Keklik said that the demand for compact cars with a separate luggage compartment is strong in this market. Opel said that last year, its total Turkish market sales were nearly 911,000 vehicles.Read the entire article Opel bets on Turkey to boost Astra sedan sales
Škoda AUTO will be introducing the new compact saloon, the Škoda Rapid, and the ŠKODA Citigo subcompact, at the Istanbul International Auto Show on Nov. 1 – 11, 2012. This will be the first time that these models will be presented in Turkey. The launch of the two new models in Turkey will be launched in the market together with the presentation at the show.
ŠKODA has already performed strongly in Turkey as its sales increased by 30.4% year on year from January through September even as the overall market declined by 8.7% in the same period. ŠKODA’s market share had increased by 1.9% as of the end of September while it was at 1.3% a year ago. The ŠKODA Octavia is the most popular ŠKODA model in Turkey.
Škoda CEO Winfried Vahland said that in the upcoming years, Škoda aims to continue to grow globally. He said that Turkey is an “important growth market” and thus it could prove to be a major element in its 2018 growth strategy.Read the entire article Skoda to introduce Rapid, Citigo models in Turkey at Istanbul Auto Show
French carmaker Renault is planning to produce over 70 percent of its Clio subcompacts in Turkey, union sources told Reuters. The move, however, will likely cause tensions with its workers and the French government, which is its largest shareholder. Two union officials told Reuters that during internal presentations, Renault revealed plans to source less than 30 percent of the new Clio model from France.
One of the sources remarked that the plan was presented as a decision. Around 41 percent of the last versions of Clio were produced in France, with about 46 percent sourced from Turkey and 13 percent from Spain. According to data from market researchers JATO Dynamics, the Clio is Renault's best-selling model in Europe, with 304,106 units delivered in 2011.
In February 2012, Renault's chief operating officer Carlos Tavares told the French Senate's economic commission in Paris that a Clio built at its plant in Flins, France, costs EUR1,300 more than the same car produced in Bursa, Turkey.Read the entire article Renault may build over 70% of Clio subcompacts in Turkey
Hyundai will produce its i10 minicar in Turkey for European markets as part of its efforts to increase sales in the continent. Hyundai will produce the i10 alongside the i20 subcompact at its joint venture with Kibar Holding of Turkey in Izmit. To accomplish that, Hyundai plans to double annual production capacity of the Izmit plant to 200,000 units by the end of 2013.
This will effectively create 750 new jobs at the plant and another 1,500 at suppliers. Hyundai hiked the capacity of the Izmit plant in May to 120,000 to start the production of the new i20. With sales of around 73,000 in 2011, the i10 is the company’s fourth best-selling model in Europe, after the i30, i20 and ix35, according to JATO Dynamics market researchers.
Around 70 percent of the vehicles that Hyundai markets in Europe are built at its Turkish plant and at its Nosovice site in the Czech Republic.Read the entire article Hyundai’s production of i10 minicars to be in Turkey instead of India
Turkish private-equity firm Brightwell Holdings intends to bid for bankrupt Saab Automobile "very shortly", according to Zamier Ahmed, a board member at the group. Specifically, the firm wants to purchase all of Saab and intends to continue the automaker's production in Sweden. Brightwell invests in transport, energy and technology.
The company is currently in talks with the administrators assigned to the bankruptcy of Saab and with the automaker's CEO Victor Muller, Ahmed revealed.
The holding group is still studying the assets of Saab and their worth, including inventories, and will need more than two weeks prior to making any offer, Ahmed disclosed to Bloomberg.Read the entire article Turkey-based Brightwell Holdings will make bid for bankrupt Saab
Saab and the Turkish government are in discussions as the bankrupt Swedish automaker seeks an investor to help it recover, German magazine auto motor und sport reported, citing sources close to the carmaker's management. The magazine also said that Victor Muller, the chief executive of Saab owner Swedish Automobile, initiated the meetings after the Turkish government expressed interest in the vehicle manufacturer.
The magazine also stated that discussions were still at a very early stage. The automaker was not available to make a comment.
For 64 years, Saab has been making vehicles. Last week, a court declared the company bankrupt, which ends a nine-month survival battle by its Dutch owner. Muller stated at the time there was interest from investors to control Saab, though any deal would require the approval of the former owner and key license holder General Motors.Read the entire article Saab in discussions with Turkish government as possible investor
In September, Honda’s operations will go back to normal in its factories in the United Kingdom and in Turkey. The shortages in auto components due to the earthquake and tsunami that hit Japan last March had adversely affected the production levels of the company.
The executive vice president of Honda Motor Europe, Ken Keir, disclosed in a statement last Friday that the company’s manufacturing operations in Europe is now making plans to return to normal.
Honda is currently planning for production for the rest of the year as the supply of parts from Japan has improved “significantly.” This will allow the company to recover volume and to respond quickly to the demands of the customers, the company stated.Read the entire article Honda to resume normal production levels in Turkey and UK by September
Ford Motor Co.'s Turkish unit targets a 50% increase in U.S. sales in 2011 with the anticipation that demand for its taxi model will rise, according to CEO Nuri Otay.
Ford is a finalist in a competition to design a replacement for New York's 13,237-taxi fleet. The other finalists are Nissan Motor Co. and Karsan Otomotiv of Turkey.
Otay said that Ford Otomotiv Sanayi AS has already been selling its Transit Connect van to be used as taxis and service vehicles in U.S. cities including Los Angeles, Washington, Boston and Chicago.Read the entire article Ford Turkish unit predicts 50% increase in U.S. sales for 2011
Renault appears intent on filling the markets with its electric vehicles as after it has revealed last week where it will be producing the zero-emission Kangoo Van, it now announces that its OYAK-Renault Bursa plant in Turkey will be making its electric version of Fluence. Production of the Fluence EV will start in the first half of 2011.
The Fluence electric vehicle, which is based on the Fluence Z.E. Concept, will be manufactured alongside the conventionally-powered versions. Having the electric, petrol and diesel versions produced at one plant will limit the entry price of the program.
It guarantees an industrial fast start, while ensuring top-level quality. Renault benefits from producing the future EV at Bursa, considering the plant'd reputation for making quality vehicles, its cost and lead times, as well as the perks of local sourcing.Read the entire article Renault Fluence EV to be produced in Turkey
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