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 newsAudi 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
Brief: China's market regulator: GAC Toyota, Volkswagen and Volkswagen China JVS recall some cars