BGC Partners: Automotive: Export data reveals Tofas’ exports fell slightly short of guidance in 2019 while Ford Otosan’s was just below the low-end of guidance; broadly neutral.
According to data from OSD (Automotive Manufacturers’ Association), there was a 6.3% increase in Turkish automotive sector exports to 107,299 units in Dec-19, while exports declined by 4.9% y/y to 1,268,430 units in 2019. Turkey’s automotive export revenue declined by 3.1% y/y to US$31.2bn in 2019.Ford Otomotiv Sanayi is an automobile manufacturing company based in Turkey. Co. operates as a joint venture between Ford Motor Company and the Koc Group of Companies. Co. is engaged in manufacturing, assembling and selling motor vehicles, primarily commercial vehicles, imports and sells passenger cars and manufactures and imports and sells spare parts of those vehicles. Co. has two plants located in Kocaeli and Eskisehir, has a spare part distribution warehouse in Kartal, Istanbul and a branch in Tubitak Marmara Research Centre, Gebze Campus Technological Free Zone (TEKSEB).
BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.
We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:
- Mergers & Acquisitions
- Equity Capital Markets
- Debt Finance & Advisory
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