2/22/2008

Car manufacturer Tofas announces production boost

The New Anatolian - Turkish car manufacturer Tofas plans to boost production by 65 percent in 2008 to 350,000-360,000 units, CEO Ali Pandir announced. He also said domestic sales would rise 15 percent to 90,000 units. The firm -- a joint venture of Italy's Fiat and Turkish conglomerate Koc Holding would increase spending on research and development by 35 percent to 234 million lira ($196.6 million), Pandir said.