Turkish automotive market contracts by 20 percent in August
While automobile and light commercial vehicle sales declined in August, the total market volume for the first eight months of the year also decreased.
The Turkish automotive market contracted by 20.28 percent in August compared to the same period of the previous year, falling to 81,031 units.
August Sales Data
The Turkish automotive market continued to contract in the second half of the year, with total sales reaching 81,031 units in August.
Main Reasons for the Decline
Difficulties in accessing credit, the holiday season, the high-interest-rate environment, and the base effect from the previous year played a role in the sharp decline in sales.
Eight-Month General Overview
In the January-August period, the total automobile and light commercial vehicle market contracted by 11.91 percent, recorded at 719,996 units.
Decline in the Electric Vehicle Market
Electric automobile sales dropped by 32 percent in August to 11,878 units, while an 12 percent decline was observed in the eight-month period.
Standout Brands in the Market
While the best-selling model in August was the Togg T10X, Renault maintained its leadership on a brand basis during the eight-month period.