Dec 18 2017

Turkish motor vehicle sales in biggest decline this year

Sales of motor vehicles in November fell the most on an annual basis this year, according to data published by the Automotive Manufacturers Association (OSD).

The market shrank by an annual 17 percent to 103,125 units, with sales of cars declining by 21 percent, the Istanbul-based OSD said on its website on Monday. Sales of trucks, buses and light commercial vehicles also dropped.

Total sales of motor vehicles in the first 11 months of the year fell by 3 percent to 839,626 units.

The government is planning an increase in taxes on sales of cars from Jan. 1 to raise money in the budget for additional spending on the military and other items. Economic growth slowed to 1.2 percent quarter-on-quarter in the three months to September from 2.2 percent in the second quarter, the government's statistics agency said last week.

Production of motor vehicles rose 8 percent annually in November to 163,460 units as exports increased. The advance was half of the 16 percent expansion in the first 11 months.

For the full report