Turkey’s auto sales up 12 pct in August: Association

ISTANBUL - Reuters

Turkish automotive sales rose 11.86 percent to 65,043 units in August, in another sign of recovery after a difficult year in 2012, the Automotive Distributors’ Association (ODD) said on Sept. 4.

Sales in the first eight months of the year rose 12.43 percent to 518,382 units, the ODD said in an emailed statement.

Turkey’s automotive sector was hit by a shrinking export market in Europe and weaker domestic demand in 2012.

The sector’s August performance was mainly driven by United States Federal Reserve’s tapering asset purchasing possibility, the volatility in currency and interest rates, and the decline in confidence indexes that began in June, ODD General Coordinator Hayri Erce said.

Erce also noted that he predicts the total market to be between 820,000 and 860,000.