Türk Traktör

The combined net profit of the companies, whose shares are traded on the stock exchange, increased by 75 percent in the third quarter to hit 444 billion Turkish Liras ($15.6 billion).

The combined net profit of automotive companies that are listed on Borsa Istanbul increased by more than 96 percent on an annual basis in the first nine months of 2021 to stand at 9.45 billion Turkish Liras (around $841 million).

Exports by carmakers based in the northwestern province of Sakarya amounted to some $2.3 billion in January-June this year.

Most of the Turkish automotive companies are planning to reopen manufacturing plants next week after nearly a one-month-long suspension due to measures to curb the spread of the novel coronavirus.

Turkey's best performing CEOs have been awarded in an Istanbul ceremony organized by Harvard Business Review Turkey and KoçSistem Inc. The grand prize was awarded to Turkish Airlines CEO Temel Kotil, the magazine said in a written statement on Jan. 21. 

Turkey's Ford Otosan and Tofa? have said manufacturing operations resumed at their plants in northwest Turkey beginning on the night shift of May 21 and on May 22, respectively, while another automotive company specializing in tractor manufacturing said its production activities would be halted in two cities because of an ongoing labor dispute. 

The European Bank for Reconstruction and Development (EBRD) has been investing in Turkish companies' innovative works to help them become more competitive in the global market, said EBRD President Sir Suma Chakrabarti on Feb. 20 during his Turkey visit.