Japanese Car Maker Acquires 10 PC Of Turkish Car Distributor

ISTANBUL - Japanese company Fuji Heavy Industries (FHI), maker of Subaru cars, has acquired 10 percent of Turkish company Baytur, a Bayraktar Holding subsidiary and the distributor of Subaru cars in Turkey.

Mustafa Bayraktar, chairman of Bayraktar Holding, told a press conference on Tuesday that Baytur and Subaru have been working together in Turkey for 13 years.

"I believe that such collaborations will help Turkey consolidate its position in the international arena," Bayraktar said.

Bayraktar did not elaborate on how much Subaru paid for the shares.

FHI Vice President Masatsugu Nagato said one third of Subaru cars were sold in Japan, one third sold in United States and the rest of its sales were in other parts of the world. Nagato said Japan and American markets have saturated, adding that Subaru is now focused on emerging markets such as China and Russia.

He said Subaru believes Turkish market has a great potential.


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