Turkish maker of Fiat cars reduces capacity, number of shifts
BURSA - Hürriyet Daily News
DHA PhotoTofaş, the local producer of Italian Fiat cars, has cut production to two shifts, citing weak demand from Europe.
The new shift order will start as of Jan. 7, Tofaş said in a filing to the Istanbul Stock Exchange yesterday.
Europe is Turkey’s top export market in cars and overall foreign sales.
The Turkish media said today that lay-offs were expected to follow the Tofaş decision.
A production fall in Tofaş poses risks for many sub-producers in the northwestern province of Bursa, the heart of car production in Turkey along with İzmit, next to Istanbul.
Along with Tofaş, Renault also produces cars in Turkey.
Car sales topped Turkey’s export items list last year at $19 billion, according to unofficial figures from the Turkish Exporters’ Assembly.