3/3/2011

Hyundai hints at more investments in Turkey

Sabah - Turkey’s rapidly growing automotive industry and the surge in car sales in 2010, have refreshed global companies’ interest in the country. With vehicle sales for 2011 forecasted to hit the critical “million” mark, new players like Nissan, as well as experienced ones like Hyundai are considering investments in the country.

 

Japanese car maker Nissan has started preliminary studies for an investment in the Turkey, where its sister company Renault has production operations for over 40 years.

 

Korean car maker Hyundai, also manufacturing various models of passenger cars and light commercial vehicles in Turkey since 1997, hints at new investments including a capacity increase in its existing plant and the production of a new model.

 

“We are assessing investment plans involving a capacity increase and the introduction of a new model,” said Ali Kibar, CEO of Hyundai’s Turkish partner Assan, adding that he expected the plans to be finalized within a couple of months. Talking to reporters at the Geneva Motor Show in Switzerland, Kibar said that Turkey is becoming a major player in the global automotive industry and has the capability to design and manufacture a local car brand.

Turkey; automotive industry; hyundai; automotive investment; car maker; nissan; ali kibar; assan