 Roadside assistance provider ADAC, also known as the yellow angels, has 25,000 members in Turkey. Hürriyet photo |
ADAC, the biggest roadside assistance company in Europe and the third biggest in the world with 17 million members, has decided to withdraw from the Turkish market after determining its investments in the country were not productive.
The company closed its Turkey branch on Dec. 3 and submitted a bankruptcy petition to Turkish officials, Dieter Wirsich, spokesman of ADAC Germany, told the press.
“Regular audits reflected that our business in Turkey was performing below expectations,” Wirsich said. “The investment volume offered [by the Turkey branch] did not sound realistic to us. We wanted to prevent further financial problems for the company.”
Thus the company, also known as the “Yellow Angels,” decided to freeze its activities and further investments in Turkey, the spokesman said.
The company will continue to provide services to some 25,000 ADAC members in Turkey from its headquarters in Munich, he said, adding that the services for contracted automotive companies and insurers were stopped.
ADAC Turkey commits to providing roadside services in 25 minutes after a customer’s call. The company received services from 5,000 locksmiths and mechanics along with 1,800 tow trucks in Turkey. Members paid 95 Turkish Liras annually to receive these services.
The company has provided services in Turkey since 2008. Founded as a local branch in 2008, ADAC Turkey supplied services for several automotive companies including Ford, Mercedes, Opel and Volkswagen.
The company owes 15 million liras to Turkish suppliers. The company has not determined how and by whom the debts would be paid, Wirsich said. “These details will be decided during the bankruptcy process.”
The company closed its Turkey branch on Dec. 3 and submitted a bankruptcy petition to Turkish officials, Dieter Wirsich, spokesman of ADAC Germany, told the press.
“Regular audits reflected that our business in Turkey was performing below expectations,” Wirsich said. “The investment volume offered [by the Turkey branch] did not sound realistic to us. We wanted to prevent further financial problems for the company.”
Thus the company, also known as the “Yellow Angels,” decided to freeze its activities and further investments in Turkey, the spokesman said.
The company will continue to provide services to some 25,000 ADAC members in Turkey from its headquarters in Munich, he said, adding that the services for contracted automotive companies and insurers were stopped.
ADAC Turkey commits to providing roadside services in 25 minutes after a customer’s call. The company received services from 5,000 locksmiths and mechanics along with 1,800 tow trucks in Turkey. Members paid 95 Turkish Liras annually to receive these services.
The company has provided services in Turkey since 2008. Founded as a local branch in 2008, ADAC Turkey supplied services for several automotive companies including Ford, Mercedes, Opel and Volkswagen.
The company owes 15 million liras to Turkish suppliers. The company has not determined how and by whom the debts would be paid, Wirsich said. “These details will be decided during the bankruptcy process.”
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