Turkey’s auto sales plunge 66% y/y in July
Turkey saw its auto sales plunge by 66% on an annual basis to 17,927 units for July 2019, CEEMarketWatch reported referring to data released by the Automotive Distributors' Association (ODD).
In comparison, the sales decline in June stood at 16.4% year-on-year. Thus, the sharper contraction in the seventh month of the year was explained with a rush with purchasing plans in June before the expiry of the provisional tax cuts.
Between January and July 2019, sales of new passenger cars and light commercial vehicles (LCV) in Turkey dropped by 47.5% on the year to 213,071 units. The country’s auto market is expected to remain sluggish in the coming months, CEEMarketWatch noted.Original source: CEEMarketWatch