BMW considers investing in Turkey.

By bne IntelliNews May 13, 2011
CEO of worlds leading luxury vehicles producer Germany-based BMW, Norbert Reithofer, announces that the company plans to launch two factories in emerging markets, including one in Brazil and another one either in Russia or Turkey, or India and S. Korea. Daily Milliyet reports that Reithofer visited Kocaeli Province in February to examine the investment options and he praised developments in Turkish auto market in Geneva Auto Show in March. On a related note, CEO of Borusan Otomotiv, BMWs distributor in local market since 1984, Esref Biryildiz, told daily Milliyet that the company did not receive any definite information from BMW yet however; Biryildiz underlies relatively higher special consumption taxes on the luxury car segment in Turkey and resulting weak demand in the local market. Biryildiz says that an international automotive producer would seek at least 40,000 units of annual local sales to decide to invest in a new market and informs that 12,000 units of BMW were sold in Turkey last year. As a final note, Head of Association of Automotive Parts and Components Manufacturers (TAYSAD), Celal Kaya, says that BMW currently co-operates with 27 Turkish companies and it is in talks with six others. BMWs annual purchases from Turkish companies amount to USD 200mn, according to Kaya.
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