Turkish automotive distributor Dogus surge on potential production deal with Volkswagen
BUZZ-Turkish automotive distributor Dogus surge on potential production deal with Volkswagen ** Shares of Dogus Otomotiv DOAS.IS rise 10%, hitting the daily upper limit, after the Turkish automotive distributor signed a letter of intent with Volkswagen VOWG.DE for production of Volkswagen-brand passenger cars in Turkey
** Dogus currently operates as an automotive distributor rather than a manufacturer, Cemal Demirtas, deputy general manager responsible for research at Ata Yatirim, noted
** Demirtas described the announcement as positive but said it was too early to assess the potential cooperation
** "A substantial passenger-car production deal in Türkiye could have a significant long-term impact on the company," Demirtas added
** The rally added 3 billion lira to Dogus Otomotiv's market value, taking it to 32.8 billion lira
** Share on track for their best day since May 2025
(Reporting by Canan Sevgili)
Recent news on Volkswagen AG
See all newsMotor racing-McNish sees change at Audi but 2030 target remains the same
Audi may boost size of new US auto plant by $3 billion, add 3,000 jobs (updated)
Audi may boost size of new US auto plant by $3 billion, add 3,000 jobs
Aumovio warns of years of weak auto production despite earnings beat (updated)
COP31 will show up the folly of cleantech tariffs