The recovery of the automotive market is also a dream this year

Ali Haydar Bozkurt, president of the Association of Automotive Dealers (ODD), said that they estimate that the automotive market will be completed this year at around 750 thousand units, slightly below last year, due to the permanent problem of availability of new vehicles, the increase in vehicle prices and the slowdown in customers’ access to credit.

Bozkurt spoke at the Automotive Summit 2022 organized by ODD.

ZERO VEHICLE AVAILABILITY CONTINUES

Recalling that the problem of zero car availability, which has been going on for more than a year, continues: “The main reason we see a slowdown now is the decrease in the potential of customers who can reach new cars at levels of current prices. The other is the difficulties in accessing credit. We see this having a somewhat negative impact on sales,” she said.

REDUCTION DUE TO STRONG LOSS OF VALUE IN TL

The Turkish auto market, which includes heavy commercial vehicles, shrank 2.9 percent last year to about 773,000 units.

The market peaked in 2015-2017 with approximately 1 million units and then began to decline due to the sharp depreciation of TL and tighter financial conditions. (REUTERS)