2014 witnesses record investments in automotive sector
by Ufuk Sandık
ISTANBULDec 30, 2014 - 12:00 am GMT+3
by Ufuk Sandık
Dec 30, 2014 12:00 am
An enormous investment was made in the automotive sector, one of the leading sectors of the Turkish economy in 2014. While many factory investments have been completed, new model investments have been settled. Tofaş invested $520 million in its hatchback and station wagon models. If the investment made on the new sedan and the new Doblo is included, the total figure reaches $1.4 billion. Doubling the facility capacities in İzmit with an investment of TL1.4 billion, Hyundai Assan started to export its i20 model. In the first stage, the i20 will be exported to 32 countries.
Ford Otosan completed its third factory in Yeniköy within the first half of 2014. The Yeniköy factory was its first factory investment for 14 years. The company also began the manufacturing of its new light commercial vehicle, called Courier. An investment of $ 1.1 billion was made in the new factory and in the Courier model. With the inclusion of the investment of the supply industry, the total figure reaches $ 1.6 billion.
Mercedes-Benz Türk completed its investment valued at 320 million euro in its Aksaray truck factory. With the new manufacturing hall, the company's truck capacity rose to 17,500.
Also, numerous agreements were signed, and new co-operations were initiated in 2014. Karsan signed an agreement with the Hyundai Motor Company to manufacture commercial vehicles. To manufacture trucks and tow-cars in Russia, Ford Otosan signed a memorandum of understanding with Russian Avtotor Holding.
Moreover, the automotive industry is counting the days until it breaks the manufacturing and exporting record. In the first 11 months of the year, the number of manufactured vehicles rose to 1.05 million, while the number of those exported reached 803,000. A new all-time record will be broken once 140,000 more vehicles are manufactured and 108,000 more are exported.
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