Page 86 - TURKRptDec19

consumption rose 1.5% y/y in the third quarter after dropping 7.7%, 4.9% and 1% in the previous three quarters, respectively.
In July, the Automotive Distributors’ Association (​ODD) cut its vehicle sales prediction for 2019 to 340,000-380,000 units​ from a previous 350,000-400,000 after ​tax cuts expired at the end of June​.
In November, the ODD hiked its sales forecast for 2019 to 450,000-500,000 after public lenders cut in October vehicle loans rates to 0.49-0.69% from the 1.40%s.
In 2018, Turkey’s automotive market contracted 35% as a total of 620,937 units of passenger cars and light commercial vehicles (LCVs) were sold versus 956,194 units in 2017.
Turkey's Vehicle Industry
(units)
Oct
y/y
Jan-Oct
y/y
P. Cars Production
93,575
5%
794,156
-8%
Total Production
132,155
1%
1,189,539
-8%
P. Cars Sales
3,996
138%
268,624
-29%
Total Sales
50,304
126%
339,546
-32%
P. Cars Imports
28,694
158%
158,417
-37%
Total Imports
33,687
142%
191,491
-38%
P. Cars Exports
82,400
-6%
676,486
-8%
Total Exports
117,524
-8%
1,031,296
-6%
P. Cars Exports (USD mn)
1,202
1%
9,575
-7%
Total Exports (USD mn)
2,898
-3%
25,888
-4%
Tractor Production
2,656
50%
19,134
-44%
Grand Total
134,811
1%
1,208,673
-9%
source: osd
9.1.3 ​Construction & Real estate sector news
Turkey’s economic turmoil has hit its construction industry like a demolition
86​ TURKEY Country Report​ December 2019 ​ ​www.intellinews.com