Ford Otosan Exports Approach $5 Billion
Ford Otosan expanded its exports which were worth $3,8 billion in 2016 to $4,9 billion with 29 percent rise in 2017.
One of the biggest industrial companies of Turkey, Ford Otosan boosted its exports 29 percent to $4,9 billion selling 297 thousand vehicles and spare parts to 89 countries in the 5 continents in 2017 over 2016. According to the activity report of the company, Ford Otosan one of the foremost industrial establishments of Turkey closed the year 2017 with robust results. Last year, with having completed its first stage investments and raised its total capacity utilization at the plants in Golcuk, Yenikoy and Inonu by 440 thousand units, the company manufactured the number of 373,007 vehicles with 12 percent up in line with foreign demand. Supplying 22 percent of the total vehicle production, 67 percent of the commercial vehicles of Turkey itself, Ford Otosan set its yearly production record because of boosted its capacity utilization rate by 88 adding 8 points.
All-time export high
The growth-oriented strategy in Europe has provided the important contribution to Ford Otosan which features the biggest commercial vehicle production hub of Europe. Manufacturing 80 percent of “Transit” model product gamut which is sold in Europe, Ford Otosan enhanced its export rate 16 percent to 297,396 units in 2017. As for the export income, being $3,8 billion in 2016 raised by $4,9 billion with 29 percent rise.
Based on model as “Custom” ranked atop with 53 percent, “Transit” became second with 34 percent, “Courier” model third with 13 percent.
Selling vehicles to 89 countries in the 5 continents in 2017, mainly European market was the export market of the company. As the UK topped with 33 percent in the foreign sales of the company, this followed by Germany with 16 percent, France with 8 percent and Spain with 6 percent respectively in 2017.
Total capacity up by 455 thousand units
Last year making investment decision to meet demand of Custom model, the company has started a work to raise capacity utilization of the plant in Golcuk from 290 thousand to 330 thousand units with $52 million of investment. With regard to first stage of the investment having commissioned in the force the last quarter of 2017, the total capacity raised from 415 thousand to 440 thousand units in the plant in Golcuk town. With the completion of investment works in 2018, the total production capacity of the company will raise by 455 thousand units. Boosting its employment 78 percent between 2013-2017, Ford Otosan maintained its employment leadership in 2017 as well. Employing 10,261 units in 2016, the number of employment of the company reached by 11,501 units with 12 percent rise in 2017.