Nordhavn Yachts/Pacific Asian Enterprises this week announced that it is halting production at the Istanbul-based Telgeren & Partners facility and retiring the two models built there, is ending for the N41 and N51 models, citing economic conditions that made continued manufacturing in Turkey untenable.
Telgeren & Partners produced 54 boats between the N41 and N51 lines, with 44 N41s delivered. PAE said both models had been well-received by the market and were just “hitting their stride” when the decision to shut down production was made.
According to a statement, inflation and government policy holding the Turkish lira artificially low made costs too unpredictable to sustain the operation. Company president Dan Streech called the outcome unavoidable in the statement, saying there was “no other answer” given the economic environment.
Streech framed the retirement of the two models as a case of a strong product line being cut short by circumstance, rather than fading demand. “The Nordhavn 41s and 51s were just hitting their stride,” he said in the statement. “They will be going out on top.”
Approximately 10 boats had been contracted to retail buyers, but Telgeren & Partners lacked the funds to deliver them. PAE covered the shortfall, ensuring the outstanding orders will be completed and honored at their original contracted prices.
In keeping with Nordhavn’s standard practice for discontinued models, the N41 and N51 molds will be destroyed.
