NEWS Automotive        02/04/2019

Automotive sales in Turkey fell 44.2% in 1st quarter of 2019

The  Automotive Distributors Association (ODD) disclosed that sales of cars and light commercial vehicles in Turkey were 49,221 units in March 2019, 35.5% lower than the figure for the same month of the previous year. Sales of cars fell 35.4% to 38,628 units, and sales of light commercial vehicles fell 36% to 10,593 units in March 2019 compared with the same month of the previous year.

 

In the first quarter of 2019, sales of cars and light commercial vehicles in Turkey were 88,469 units, 44,2% lower than the figure for the same period of the previous year. Sales of cars decreased 43.7% to 68,812 units, and sales of light commercial vehicles decreased 45.6% to 19,657 units.

 

In the first quarter of 2019, sales of diesel automobiles were 54.4% and sales of automatic gearbox automobiles were 63.6%. Of commercial vehicle sales, 14,176 (72.1%) vans, 2,382 (12.1%) light trucks, 1,440 (7.3%) pick-up trucks, and 1,659 (8.4%) minibuses were sold.

 

Turkey’s current economic crisis is clearly having a drastic effect on the automotive market. Car manufacturers, importers and distributors in Turkey are now reluctantly reassessing their operations as it is uncertain for how long this recesssion will last. The only reprieving factor is exports, but with a global economic downturn, this market is also at risk. The Turkish government’s reductions of the special consumption tax on motor vehicles with engines under 1600 cc to 15%, and the VAT on commercial vehicles to 1% from 18% have been extended until the end of June 2019. This action has not however so far succeeded in stemming the fall in domestic automotive sales. 

 

Click here for report (Turkish)

 



Turkey’s net minimum wage has been raised 26.05% to TL 2,020 (USD 381) as of 01.01.2019       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s annual inflation rate increases to 16.65% in July 2019       Turkey’s unemployment rate decreases to 12.8% in May 2019       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 82,003,882 as of 2018 yearend       Number of foreigners visiting Turkey in 2018 increases by 21.8% to 39.5 million       Turkey’s private sector foreign debt is USD 225.8 billion as of 2018 yearend       Turkey’s economy contracted by 2.6% in the first quarter of 2019       Turkey shows surplus of USD 538 million in its 12 month rolling current account balance in June 2019