Economy in Turkey: Car sales record continues in July 2023

According to the Automotive Distributors and Mobility Association (ODMD) data, sales in the automotive market were 112 thousand 459 units, in July 2023. Thus, the monthly record series in sales continued.

The record increase in the exchange rate after the election is causing a storm of hikes in car prices. Despite this, those who want to protect their savings from inflation have turned cars into an investment tool in an environment of low interest returns.

According to ODMD data, light commercial and automobile sales in July were 112 thousand 459.

Thus, the automobile and light commercial vehicle market reached 668 thousand 828 units in January-July period, with a growth of 63.1 percent.

Automotive experts have made following comments about said data; “With this result, both the best July of all time and the highest sales figure of this year were reached.”