Sales of passenger cars and light commercial vehicles in Turkey fell 24.85% year on year to 286,861.
Total new vehicle sales reached 381,743 units.
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Passenger car sales fell 22.71% to 225,773.
LCV volume was off 31.85% to 61,088.
June passenger car and LCV volume was down 18.8% to 60,163 with passenger car sales off 18.89% to 47,278 and LCVs down 18.48% to 12,885.
In the first six months of 2014, diesel models accounted for 62.5% of passenger car sales while models with automatic transmission took a share of 45.6%.
Turkey’s Automotive Distributors Association said sales fell due to several factors – unfavourable exchange rates, higher interest rate, higher passenger car taxes and restrictions imposed by the BDDK (Banking Regulatory and Supervisory Agency) on credit transactions plus a slowdown in private sector investments all “caused a significant reduction in the automotive market”.
For the second half, elections, macro prudential measures, a monetary tightening policy of the TCMB (Turkish Central Bank), geopolitical developments and the monetary policies of US and European Central Banks would continue to have an effect on sales.
The ADO now expects full year 2014 sales in the region of 650,000-700,000 units.
