Automotive industry

Nissan on Feb. 8 hiked its annual net profit forecast again on strong interim results, aiming to weather the global chip shortage as it shifts focus to electric vehicles.

The Japanese car giant now expects yearly net profit to March 2022 of 205 billion yen ($1.8 billion), having already tripled its annual profit outlook in November to 180 billion yen.

Turkey's Automobile Initiative Group (TOGG) has been picked as one of the best 20 brands showcased at the Consumer Electronics Show (CES) in Las Vegas earlier this month.

"Prestigious sectoral magazine Exhibitor has chosen TOGG one of the best 20 brands of CES among 2,300 participants," TOGG said on its Twitter account.

Turkey's competition watchdog will soon announce its decision in a probe into automotive companies, Birol Küle, the head of the Competition Authority, said on Jan. 19. 

"We may announce the result of the investigation on automotive companies next week," he told private broadcaster CNN Türk.

Automakers in Turkey produced 108,078 vehicles in October, including automobiles and commercial vehicles, according to a sectoral report released on Nov. 15.

The figure decreased by 28 percent year-on-year last month, a report from the Automotive Manufacturers Association (OSD) showed.

Η εταιρεία Electric GT μετατρέπει την κλασική Porsche 911 σε ένα αμιγώς ηλεκρικό όχημα.

Ford Otosan, a joint venture of Turkey's Koç Holding and U.S. automotive giant Ford, has unveiled Turkey's first domestically-developed gearbox at its plant in the Central Anatolian province of Eskişehir.

The sales of passenger cars and light commercial vehicles in Turkey improved 13.1 percent year on year in the first three quarters, an industrial group report showed on Oct. 4.

As many as 558,145 vehicles were sold across Turkey in the January-September period this year, the Automotive Distributors' Association (ODD) said in a statement.

Ljubljana/Žiri – The Bank Assets Management Company (BAMC) initiated on Monday procedures to sell its 100% share in the footwear producer Alpina and all of related liabilities worth EUR 28 million.

The bad bank said on the time was right for the sale as it has done all it could to stabilise the Žiri-based company.

Turkey has increased the price thresholds at which special consumption tax is imposed on some vehicles, according to the country's official gazette, a move that will boost sales.

class='cf'>

Hyundai Motor ranked 7th in the '2021 US Automotive Brand Loyalty Study' conducted by US market research firm J.D. Power, up a notch from last year. Kia maintained its ranking 6th.