Passenger car and light commercial vehicle market increased by 92.8% in March with the effect of accelerated purchases due to campaigns and price increases.

© Reuters.

ISTANBUL, April 2 (Reuters) – Automobile and light commercial vehicle sales increased by 92.8% in March as well, with low-interest credit campaigns and consumers’ purchase of vehicles without the sharp increase in exchange rates.

The automotive and light commercial vehicle market rose to 96,428 units in March, almost 50% above the 10-year average, according to Automotive Distributors Association (ODD) data.

EBS Consulting General Manager Erol Şahin stated that “campaigns to close 2020 stocks, low interest rate sales campaigns and the consumer going to buy a vehicle before the increase in the exchange rate is reflected in the prices” was effective in the increase in sales.

The low base effect caused by the coronavirus epidemic that started in March last year also played a role in the high rate of increase in sales.

Light commercial vehicle sales increased by 98.3% to 20,071, and passenger car sales increased by 91.4% to 76,357.

Looking at the entire first quarter, the market increased by 59.7% to 198,660. Automobile sales increased 57% and light commercial vehicle sales increased 70.3% in the first quarter.

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