Istanbul – SACE has guaranteed a €200 million loan in support of new supplies from Fiat Chrysler Automobiles Italy to Tofas, the largest Turkish automotive group participated in a joint venture by Fiat Chrysler Automobiles and Koc Holding. The funding, provided by HSBC, supports the preparation of new models (both station wagon and hatchback) to strengthen the Turkish group’s offer. With a network of 75 dealers and 115 sale points in Turkey, Tofas distributes all Fiat models in the Middle Easter country and in several foreign markets. The recovery in domestic consumption and Turkey’s positioning among the major European centers for exports in the automotive sector are at the basis of the positive outlook for Italian exports. In fact, according to Sace forecasts, exports to Turkey should grow at an average rate of 2.3% over the next four years. (9Colonne)
