Renault’s Turkish JV, Oyak Renault, is to halt production between Feb. 2-10 due to lower orders.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
A company spokesperson told Reuters that the company’s logistics operations and spare parts production will continue, she said.
Other vehicle makers in Turkey have also announced temporary suspensions to output as Turkey’s auto industry sees exports to the EU fall off.
Turkish analyst TSKB says that vehicle production in December was down 62% on the previous year and that capacity utilisation was off from 99% to just 32%.
The firm also said that mounting inventories would result in further production cuts in 2009.
Much of Turkey’s vehicle production is exported to the EU and some forecasts for the European car market envisage it declining 20% in 2009.
