The Turkish auto industry is in for a major shake-up as Stellantis, the world’s fourth-largest automaker, announces its plan to sell its distribution business. This move has sent ripples across the sector and raised questions about what this means for Turkey’s automotive market. As we explore the implications of this decision, join us on a
The Turkish auto industry is in for a major shake-up as Stellantis, the world’s fourth-largest automaker, announces its plan to sell its distribution business. This move has sent ripples across the sector and raised questions about what this means for Turkey’s automotive market. As we explore the implications of this decision, join us on a journey through Turkey’s auto industry and discover how this latest development can impact both local consumers and manufacturers alike. From new opportunities to potential challenges ahead, fasten your seat belts as we delve into the exciting changes that lie ahead!
Stellantis, the parent company of Fiat Chrysler Automobiles, announces the sale of its Turkish distribution business
Stellantis, the parent company of Fiat Chrysler Automobiles, has announced that it is selling its Turkish distribution business to TAV Autonomous Ventures. The deal is valued at $912 million and is expected to close in the first quarter of 2021.
The sale comes as a part of Stellantis’ ongoing efforts to streamline its business and focus on its core operations. Turkey has been a challenging market for the company in recent years, and the sale will allow Stellantis to exit the market and redeploy resources elsewhere.
The buyer, TAV Autonomous Ventures, is a joint venture between Turkish Airlines and Koc Holding. The deal will give TAV a significant presence in the Turkish automotive market and represents a major bet on the future of the country’s economy.
The announcement of the sale comes as a surprise to many in the industry, but it is a sign of the changing landscape of the Turkish auto market. With foreign companies increasingly looking to exit the market, it is likely that we will see more consolidation among local players in the coming years.
The move comes as the Turkish auto industry undergoes a major shake-up
In recent years, the Turkish auto industry has undergone a major transformation, with a number of new players entering the market and existing companies expanding their operations. The latest development is the sale of Stellantis’ distribution business to local conglomerate Koç Holding.
The move comes as the Turkish auto industry is undergoing a major shake-up, with a number of new players entering the market and existing companies expanding their operations. The latest development is the sale of Stellantis’ distribution business to local conglomerate Koç Holding.
Stellantis is the fourth-largest automaker in Europe and the ninth-largest in the world. The company’s decision to sell its distribution business in Turkey is part of a wider strategy to focus on its core manufacturing operations.
The sale will see Koç become the exclusive distributor of Stellantis’ brands in Turkey, including Fiat, Jeep, Lancia and Alfa Romeo. It will also give Koç a majority stake in Stellantis’ joint venture with Turkey’s Temsa Motor Sanayii, which manufactures buses and light commercial vehicles.
The deal marks a major shift in the structure of the Turkish auto industry, with one of its largest players exiting the distribution business entirely. It remains to be seen how other automakers will respond to this development and what effect it will have on competition in the market.
Stellantis is selling its business to local conglomerate Aygaz
It was announced today that Stellantis, the parent company of Fiat Chrysler Automobiles, is selling its Turkish distribution business to local conglomerate Aygaz. This move signals a major shake-up in the Turkish auto industry, which has been dominated by foreign companies for many years.
Aygaz is a well-established conglomerate with interests in a wide range of industries, including energy, automotive, and chemicals. The acquisition of Stellantis’ distribution business will give Aygaz a significant presence in the automotive sector.
The terms of the deal have not been disclosed, but it is believed that Aygaz will pay a considerable premium for the business. This is a significant investment for Aygaz, and it underscores their commitment to becoming a major player in the Turkish auto industry.
The sale of Stellantis’ distribution business is just the latest development in a rapidly changing automotive landscape in Turkey. Earlier this year, another foreign automaker, Renault, announced that it was exiting the Turkish market entirely. In light of these developments, it appears that the Turkish auto industry is undergoing a major transformation.
The sale is expected to be completed by the end of 2021
Turkey’s auto industry is in for a major shake-up as Stellantis, the parent company of Fiat Chrysler, announced it is selling its distribution business to Turkish conglomerate Cukurova. The sale, which is still subject to regulatory approval, is expected to be completed by the end of 2021.
This move signals a major shift for Stellantis, which has been seeking to streamline its operations and focus on core businesses. For Cukurova, the acquisition will further solidify its position as one of Turkey’s leading automotive players. The deal comes at a time when the Turkish automotive market is experiencing strong growth, with sales expected to reach a record 2 million units this year.
The sale will have far-reaching implications for both companies and the wider Turkish automotive industry. It remains to be seen how Cukurova will operate Fiat’s distribution business and what effect this will have on competition in the market. For Stellantis, the move signals a retreat from one of its most important markets. However, with its core businesses now in focus, the company is well positioned to continue capitalize on Turkey’s growing automotive market.
Aygaz is a leading player in the Turkish auto industry
Aygaz is one of the leading players in the Turkish auto industry and has been for many years. The company has a strong presence in both the domestic market and the export market, and is known for its high-quality products and services. Aygaz is a major player in the production of both passenger cars and commercial vehicles, and has a wide range of models to choose from. The company is also a leading provider of aftermarket parts and services, and has a well-established network of dealerships across Turkey.
The sale will allow Stellantis
The sale of Chrysler Turkey to Turkish conglomerate Aygaz will allow Stellantis to focus on its core business and continue its growth in other markets. The move also signals a shift in the Turkish auto industry, as local companies are increasingly looking to purchase and invest in foreign brands.
Aygaz is one of Turkey’s largest conglomerates, with interests in energy, retail, and manufacturing. The company has been expanding its automotive portfolio in recent years, and the acquisition of Chrysler Turkey is a significant step forward.
The deal includes the transfer of all assets and liabilities related to the distribution and support of Chrysler vehicles in Turkey. This includes over 200 dealerships, service centres, and spare parts suppliers across the country.
Aygaz will assume full responsibility for the sales, marketing, and service of Chrysler vehicles in Turkey. The company plans to invest heavily in the brand, with a focus on expanding its dealer network and increasing market share.
The sale of Chrysler Turkey is part of Stellantis’ broader strategy to streamline its operations and focus on its core businesses. The company has been divesting non-core assets in recent years, including its European distribution business (which was sold to Japanese conglomerate Sojitz earlier this year).
This move will allow Stellantis to sharpen its focus on key markets like North America and China – two regions where it has significant growth potential.