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Turkey Dangles Incentives to Lure More Auto Output
The Turkish government says it will waive tariffs on 15% of a foreign automaker's small-car imports if the company boosts local capacity by at least 100,000 vehicles, Bloomberg News reports, citing a speech by Economy Minister Zafer Caglayan.
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The Turkish government says it will waive tariffs on 15% of a foreign automaker's small-car imports if the company boosts local capacity by at least 100,000 vehicles, Bloomberg News reports, citing a speech by Economy Minister Zafer Caglayan.
Turkey also will allow companies to import additional small cars duty-free in return for an unspecified increase in domestic engine capacity, according to Caglayan. He says both categories of tariff cuts apply only to vehicles in the A through C segments.
Foreign-based automakers with Turkish factories include Fiat, Ford, Honda, Hyundai, Renault and Toyota. Carmaker group OSD predicts Turkey's passenger vehicle production in 2012 will slide 4% year on year to 622,700 units.
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