NEWS Automotive        03/07/2020

Automotive sales in Turkey surge by 66.3% in June 2020

The Automotive Distributors Association (ODD) disclosed that sales of cars and light commercial vehicles in Turkey were 70,973 units in June 2020, an increase of 66.3% on the figure for the same month of the previous year. Sales of cars increased 58.4% to 57,067 units, whereas sales of light commercial vehicles increased 108.7% to 13,906 units in June 2020 compared with the same month of the previous year. In order to help boost automotive sales which had been lagging badly, and encouraged by the government which was in the process of gradually reducing its main policy interest rate, state and private banks started to introduce cheaper loan packages as of October 1st, 2019. Sales have since recovered subsequently, but the lockdown imposed due to the coronavirus pandemic in April and May has had an adverse effect on sales in those months. With the relaxation of lockdown restrictions in June 2020 and due to the generous loan package terms offered by the three state banks Ziraat Bank, Vakıfbank and Halkbank as from June 1st, 2020, there was a surge of sales in June 2020. There was clearly a backlog of pent-up demand following the lockdown, and it is unclear whether the improved June sales will continue into the following months.

 

In the first half of 2020, sales of cars and light commercial vehicles in Turkey were 254,068 units, 30.2% higher than the figure for the same period of the previous year. Sales of cars increased 30.2% to 203,595 units, and sales of light commercial vehicles increased 30.2% to 50,473 units.

 

In the first half of 2020, sales of diesel automobiles were 42.6% and sales of automatic gearbox automobiles were 69.6%. Of commercial vehicle sales, 27,584 (71.2%) vans, 4,963 (12.8%) light trucks, 3,104 (8%) minibuses, and 3,115 (8%) pick-up trucks were sold.

 

In the year 2019, sales of cars and light commercial vehicles in Turkey were 479,060 units, 22.9% lower than the figure for the previous year. Sales of cars decreased 20.4% to 387,256 units, and sales of light commercial vehicles decreased 31.8% to 91,804 units. Sales in 2019 of diesel automobiles were 52% and sales of automatic gearbox automobiles were 66.5%. Of commercial vehicle sales, 66,704 (72.7%) vans, 10,838 (11.8%) light trucks, 7,203 (7.8%) minibuses, and 7,059 (7.7%) pick-up trucks were sold.

 

Click here for report (Turkish)

 

 

 

 

 



Turkey’s net minimum wage has been raised 15.04% to TL 2,324.70 (USD 391) as of 01.01.2020       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s annual inflation rate falls back to 11.76% in July 2020       Turkey’s official unemployment rate increases marginally to 12.9% in May 2020       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 83,154,997 as of 2019 yearend       Foreigners visiting Turkey in 2019 increase by 14.1% to a record 45.1 million       Turkey’s private sector foreign debt is USD 189.8 billion as of 2019 yearend       Turkey’s economy grew by 0.9% in 2019