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Q1 car sales send positive signals to markets
Evaluating the latest developments in the Turkish automotive market to the Anatolia news agency in İstanbul on Sunday, Ilısal said with around 75,000 sales in March, the total number of autos sold in the first quarter would hit 175,000. Ilısal cites last year’s government incentives as the major factor that breathed life into the ailing market.
“The government has taken timely measures; it introduced private consumption tax [ÖTV] cuts. … This move was enough to reinvigorate sales,” he explains. Other factors the OYDER head says favored the markets last year were lowered interest rates on banks’ vehicle loans along with promotions offered by dealers amid a competition atmosphere which Ilısal describes as “sweet and profitable.”
He said the Turkish auto market is well poised to reach an annual sale target of 1 million provided that the government maintains its tax cut policy.
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