Investigation Launched for Ford, TOFAŞ and Doğuş Otomotiv

In recent months, Turkey's automotive giants such as Ford Otosan, TOFAŞ and Doğuş Otomotiv asking for defense Competition Board, now Law on the Protection of Competition initiated an investigation against these three companies.

He made a notification to KAP regarding the issue yesterday evening. Doğuş Otomotiv Service and Trade Inc., “With the decision of the Competition Board dated 24.07.2020 and numbered 20-35/456-M, in accordance with Article 41 of the Law on the Protection of Competition numbered 4054, distributors and car rental companies, including our company, operating in the first-hand (new) second-hand sales markets, Law No. 4054It has been reported that it has been decided to open an investigation to determine whether they have violated Article 4 of the . he said.

Ford Automotive Industry Inc. The statement made by KAP to KAP is as follows:

“Investigations have been initiated within the scope of the decision taken by the Competition Board to open an investigation against many companies in the sector, including our Company, in order to determine whether distributors and car rental companies operating in the first-hand (new) and second-hand vehicle sales markets have violated Article 4 of the Law No. 4054 on the Protection of Competition.

As it is known, the opening of an investigation by the Competition Authority means that the companies subject to the investigation have violated Law No. 4054 and are within the scope of the Law. criminal sanction It cannot be interpreted as meaning that they are or will be faced with.

Developments on the subject Capital Market Legislation It will be shared with the public when necessary.

"In case there are any differences in the English translation texts of this statement, the Turkish explanation will be taken as basis."

TOFAŞ, one of Turkey's most established automotive companies, made the following statements in its statement shared on KAP:

“Investigations have been initiated within the scope of the decision taken by the Competition Board to open an investigation against many companies in the sector, including our Company, in order to determine whether distributors and car rental companies operating in the first-hand (new) and second-hand vehicle sales markets have violated Article 4 of the Law No. 4054 on the Protection of Competition.

As it is known, opening an investigation by the Competition Authority cannot be interpreted as meaning that the companies subject to the investigation have violated Law No. 4054 or that they have or will face criminal sanctions within the scope of the Law.  

Developments on the subject Capital Market Legislation "It will be shared with the public when necessary."