Auto sales drop 19 pct in nine months.
ySTANBUL (CyHAN)- Turkish auto sales, including light commercial vehicles and cars, have declined by 19.25 percent during the January to September period compared to the same period of 2013, recent data released by the Automotive Distributors Association (ODD) have revealed.
According to the figures, while domestic car sales registered an 18.92 percent decrease with 366,768 units sold, domestic light commercial vehicle sales narrowed by 20.35 percent to 106,730 units year-on-year in the January to September period. The total auto sales dropped to 473,498 units in the same period.
Auto sales declined by 2.11 percent year-on-year in September.
Considering the reasons behind the shrinkage, ODD General Coordinator Hayri Erce listed a number of developments that occurred in the first nine months of this year. The depreciation of the lira against the US dollar, hikes in interest rates, an increased share of private consumption tax (EuTV) in auto prices, restrictions on credit transactions imposed by the Banking Regulation and Supervision Agency (BDDK), a slowdown in the growth rate and weakening consumption and investment of the private sector have caused the drop in sales, according to Erce.
(Cihan/Today's Zaman) CyHAN
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|Publication:||Cihan News Agency (CNA)|
|Date:||Oct 3, 2014|
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