Turkish motor vehicle sales hit by access to credit, spending power

Growth in sales of cars and light commercial vehicles (LCVs) in Turkey failed to meet expectations in July as potential buyers experienced problems accessing credit and spending power decreased.

Sales of cars and LCVs rose by an annual 9.1 percent to 52,206 units, according to data provided by the Automotive Distributors’ Association (ODD) on Tuesday. Total sales were 16.4 percent below the 10-year average.

“Sales are likely to follow a similar path in the coming months,” Ali Haydar Bozkurt, head of the ODD, said in an interview with the Dünya newspaper.

Bozkurt said problems included a decline in the ability of potential customers to buy new vehicles, supply issues, difficulties in accessing loans, rumours of tax reductions and the failure of potential clients to sell second-hand cars at the desired price.

Car sales rose by an annual 13 percent to 41,031 units in July, while sales of light commercial vehicles fell by 3.1 percent to 11,175 units, the ODD said.

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