TODAY’S – Auto sales drop 23.5 pct in 7 months

Auto sales drop 23.5 pct in 7 monthsTurkish automotive sales fell by 23.

5 percent year-on-year in the first seven months of the year to 346,768 vehicles, the Automotive Distributors Association (ODD) said on Tuesday.Auto sales also dropped 16.

3 percent year-on-year to 59,907 vehicles in July.The association has not changed its annual sales forecast of 650,000-700,000 vehicles.

Automaker Renault saw the highest drop in sales last month, as it sold around 2,000 less vehicles than it had in July of 2013. Volkswagen and Opel both sold around 1,500-1,600 less cars year-on-year last month.

Light commercial vehicle sales decreased by 29.5 percent during the first seven months of this year During the same period of 2013, 105,521 light commercial vehicles were sold in Turkey, which decreased to 74,393 this year Diesel automobiles accounted for 62 percent of vehicles sold in the first seven months of this year Vehicles under 1,600cc decreased by 20.

81 percent in sales, while those between 1,600-2,000cc decreased by 39.88 percent, and vehicles above 2,000cc declined by 304 percent.

The ODD said that although economic growth expectations during the first seven months of the year had been met, accelerated exchange and interest rates had resulted in a higher Special Consumption Tax (TV) on automobiles.

SOURCE: Today’s Zaman