Auto industry wants government support

Bloomberg

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"The automotive market needs support that will have a shock effect," the Istanbul-based association said in an e-mailed statement. "There’s serious concern that the damage will increase" as the government weighs proposals to help the industry that were originally submitted in October, it said.

Slumping exports

Turkish exports of motor vehicles slumped by more than two- thirds between Jan. 1 and Jan. 15 as consumer demand fell and the export market crumbled, daily Hürriyet reported Jan. 18, citing an exporters’ group.

Eighty percent of the industry’s sales come from exports and 90 percent of those go to the European Union, Industry Minister Zafer Çağlayan said Jan. 9. Ford Otosan, Ford Motor Co’s Turkish unit, will halt production at its factories in Turkey for nine days because of low demand for vehicles, the company said in a filing with the Istanbul Stock Exchange Jan. 15.