Turkish carmaker Anadolu Isuzu to suspend production amid weak demand
Carmaker Anadolu Isuzu, a joint venture between Turkish conglomerate Anadolu Holding, Isuzu Motors and Itochu Corporation, will halt production for a total of 26 days between Jan. 14 and April 13 due to weak demand in the domestic market.
“The production will be suspended six days in January, eight days in February, another eight days in March and four days in April,” the carmaker said on Jan. 14 in a filing with Borsa Istanbul.
The reason behind the decision to temporarily suspend the production is the observed contraction in the domestic demand, the company said.
Anadolu Isuzu produces and sells commercial vehicles such as light trucks, trucks, midibuses, buses and pick-ups.
According to data from the Automotive Distributors’ Association (ODD), Turkey’s car market (sales of passenger cars and light commercial vehicles combined) shrank 35 percent in 2018 compared to the previous year.
A total of 620 vehicles were sold in the country last year, the data showed.
In December alone, vehicle sales declined by 43 percent from a year earlier.
AG Anadolu Grubu Holding owns 55.5 percent of the carmaker, while Isuzu Motor and Itochu Corporation hold 17 percent and 12.7 percent stakes in the company, respectively.