Auto sales in Turkey rise almost 30 percent in October
ANKARA – Anadolu AgencySales of cars and light commercial vehicle in Turkey rose by 29.2 percent in October from last year, the Automotive Distributors’ Association stated on Nov. 2.
Last month, 83,000 passenger cars and light commercial vehicles were sold in Turkey, according to a report by the association.
The report showed that car sales went up by 32.9 percent to 63,746, while light commercial vehicle sales rose by 18.1 percent to 19,254, pushing combined sales to almost a third higher than last year.
The association forecasts the Turkish automotive market to increase to about 1,000,000 units by the end of 2016 and 2017, citing a probable rate hike from U.S. Federal Reserve, post-Brexit volatility in the EU and other countries, rebalancing in the Chinese economy, geopolitical challenges, and monetary policies of the Turkish Central Bank.