Already a Bloomberg.com user?
Sign in with the same account.
Ford Otomotiv Sanayi AS (FROTO), the Turkish van and truck maker co-owned by Ford Motor Co. and Koc Holding AS (KCHOL), plans as much as a sixfold increase in truck exports to 6,000 vehicles by 2016, helped by a new heavy truck it will start selling at the end of this year.
Ford Otosan, as the company is known, will produce 3,000 Cargo 1846T heavy trucks annually starting in 2013 at a plant in Inonu in western Turkey with a $75 million investment, Chief Executive Haydar Yenigun said in Istanbul.
The new model will help double Ford Otosan’s truck production to 20,000 units annually eventually, Yenigun said.
Trucks will be exported to 65 countries, Yenigun said. Ford’s share of Turkey’s truck market will probably rise to 25 percent this year from 22.8 percent last year, Yenigun said.
Ford Otomotiv exported 1,000 trucks in 2011. Ford also has a van-making plant in Kocaeli, near Istanbul.
To contact the reporters on this story: Ercan Ersoy in Istanbul at email@example.com;
To contact the editor responsible for this story: Benedikt Kammel at firstname.lastname@example.org.