PASSENGER CAR AND LCV MARKET SHRINKS BY 12.8%

The country’s passenger car and light commercial vehicle (LCV) market shrank by 12.8% to 38,131 units in January compared to the same month last year, according to the Automotive Distributors’ Association (ODD). Passenger car sales declined by 17.9% to 29,020 units in the same period. LCV sales increased by 8.9% to 9,111 units on an annual basis with the positive impact of the improvement in cargo. The Turkish LCV market, which had decelerated since the second half of 2021, contracted by 4.6% to nearly 737,000 units and remained below 10-year averages last year due to supply issues for new LCVs.