BP Turkey to open 40 new fuel stations despite losses: Country manager
ISTANBUL - Reuters
AFP photoBP Turkey will open 40 new fuel stations in Turkey this year, despite making losses at the moment, BP Turkey manager Martin Thomsen said in a June 26 press meeting with Doğuş Automotive to announce a joint campaign.
“Due to the loss in the Turkish Lira’s value and the state intervention in fuel prices, we have been lagging behind our targets and making losses now. We have, however, been sticking to our growth strategy. In parallel to this strategy, we plan to open 40 new fuel stations in Turkey,” Thomsen added.
BP Turkey currently has 647 fuel stations in Turkey, adding up to a share in the market of around 9 percent, he also said.
Thomsen said Turkey is a difficult market, but still a very attractive one for investors due to its high growth potential.
“There is a problem for the sector as its players cannot make profits even if they increase revenues,” he said.
Thomsen stressed that BP expects its cooperation with Doğuş Automotive, the leading automotive importer and one of the biggest automotive distributors in Turkey, will make a financial contribution worth an amount that will allow 7-8 fuel stations to be opened.
With the new cooperation deal, Doğuş Automotive customers will be able to take a discount of around 3 percent for all fuel purchased, said the companies’ representatives.
Doğuş Automotive currently has 1.3 million active cars, according to the company’s figures.