Turkish automotive sales drop 66 percent year-on-year in July

Last updated: 3rd August 2019 9:15 pm

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Motorists drive over the Bosphorus suspension bridge linking the city's Asian and European sides in Istanbul October 6, 2004. [Turkey won a provisional green light from the European Commission on Wednesday to open membership negotiations with the European Union, a watershed decision after 40 years of on-again, off-again talks.] - RTXMYRY

Sales of passenger cars and light commercial vehicles in Turkey slid 66 percent year-on-year in July to 17,927 vehicles, the Automotive Distributors’ Association (ODD) said on Friday, according to Reuters.

Sales dropped 47.5 percent in the first seven months of the year, the association said, despite tax cuts by the government to encourage purchases. The tax cuts on vehicle purchases ended on June 30.

In a statement the association revised down its guidance for total automotive sector sales to between 340,000-380,000 vehicles for 2019 from between 350,000-400,000 vehicles.

TAGGED:AKP Economy Erdogan

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