BGC Partners: Turkey AUTO SALES /Jan-20 - strong
Turkey light vehicle (LV) sales surged by 90% y/y in Jan-20, positive… Light vehicle sales exhibited a strong start to the year, although the month of January usually is not a representative month due to seasonality. The surge in passenger car sales was much stronger at 101% y/y to 22,016 units (higher than our expectation) while LCV sales grew by 55% y/y to 5,257 units (slightly lower than our expectation).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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