24.2 C
Frankfurt am Main

Turkish vehicle sales saw 16-year low in 2019: report

Must read

The sale of passenger cars and light commercial vehicles in 2019 declined by 22.9 percent to 479,060 units, the lowest level in the last 16 years, according to the Automotive Distributors Association (ODD), the Diken news website reported.

In December, however, sales increased by 16.5 percent year-on-year, totaling 90,500 units.

Auto purchases decreased throughout the last year by 20.4 percent, while the sale of light commercial vehicles dropped by 31.8 percent.

Following deep interest rate cuts by the Turkish central bank starting in August, the sale of vehicles has steadily increased, the ODD said, adding that for the next year they expect purchases to surge to somewhere between 525,000 and 575,000 units.

Liked it? Take a second to support Turkish Minute on Patreon!
Become a patron at Patreon!
More News
Latest News