Hyundai Motors in Turkey
The accumulative production of the Hyundai Motors Turkey factory exceeded 1 million vehicles. Hyundai Motors will increase the operating ratio of its Turkey-based factory above 100 percent to target the European market.
Hyundai Motors Turkey held a ceremony to celebrate over 1 million accumulative production, and announced its plan to increase the operating ratio on July 14. This took 17 years from the production of the first car in the Turkey factory.
At the early stages, the Turkey factory produced Hyundai Motors vehicles to be sold in Turkey and the Middle Eastern markets nearby. However, since “i20” started to be manufactured in Turkey factory in 2010, this factory has become a production base targeting European market. Last year, Hyundai Motors invested US$609 million, formed a system for 200,000 vehicle production annually, and created three-shift production lines. Turkey factory is currently manufacturing “i10” and “i20” strategically targeting Europe, and exporting 90 percent of produced vehicles to 30 countries throughout Europe.
Hyundai Motors will start manufacturing new i20 at Turkey factory, and increase its operating ratio even more. Operating ratio of Turkey factory during the first half this year exceeded 98 percent, and this will be higher than 100 percent for the second half. A personnel at Hyundai Motors explained, “Turkey factory is one of the main production bases in Europe, together with Czech factory which manufactures 300,000 vehicles annually. Sales volumes will increase, proactively reacting to the market demand from European market.”