Turkish car manufacturer Ford Otosan expects total vehicle sales in its home market will reach 850,000 units in 2012, slightly less than the 864,439 vehicles it sold in 2011.
A joint venture between Ford and Koc Holding, Ford Otosan will start building a new factory in Eskisehir in the first quarter of this year where it will make light commercial vehicles. Annual production capacity will be 110,000 units, general manager Nuri Otay said in a news conference in Istanbul on Thursday. The company will invest about €205 million in the new factory, which will create 1,000 jobs, Otay added.
Ford Otosan expect to build 288,000 Transits and Transit Connect this year, less than in 2011, when it produced a record 296,000 units. This year, Ford aims to export 212,000 vans and sell 128,000 cars and vans in Turkey. Ford Otosan’s exports totaled $3.5 billion in 2011.
Ford and Koc Holding each hold a 41 percent share in the joint venture. Koc Holding is the largest industrial conglomerate in Turkey. It also has a joint venture with Fiat, called Tofas. The Turkish conglomerate has a 37.8 percent stake in the company.