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Vehicle registrations in Turkey down 43 percent

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The number of newly registered vehicles in January dropped 43.4 percent year-on-year, the Diken news website reported on Friday, citing Turkish Statistics Institute (TurkStat) figures.

A total of 66,486 vehicles were registered in January, down from 117,477 in January 2018.

Vehicles removed from registration totaled 10,243. The overall number of registered vehicles has increased to 22,922,164.

In 2018, Turkey’s economy was hit by a currency crisis in which the Turkish lira saw a depreciation of nearly 30 percent.

The special consumption tax and the motor vehicle tax imposed on the purchase of motor vehicles have also been significantly increased in recent years.

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