Turkey's auto sales rise almost 30 pct in October

ANKARA (AA) – Turkey’s car and light commercial vehicle sales in October grew almost 30 percent, the Automotive Distributors' Association said Wednesday.

Last month 83,000 passenger cars and light commercial vehicles were sold, up 29.2 percent from a year earlier, according to a report from the Association.

The report showed that car sales went up 32.9 percent to 63,746 while light commercial vehicle sales rose 18.1 percent to 19,254, pushing combined sales to almost one third higher from last year.

The association forecasts the Turkish automotive market to increase to about 1,000,000 units by the end of 2016 and 2017, citing a probable rate hike from US Federal Reserve, post-Brexit volatility in EU and other countries, rebalancing in Chinese economy, geopolitical challenges and monetary policies of the Central Bank of Turkey among the factors determining the market figures in the coming period.