Turkish motor vehicle registrations fall by 17 percent in December
Tuesday 26/January/2021 - 03:29 PM
Registrations of motor vehicles in Turkey fell by 17 percent to 85,300 in December from the previous month, the Turkish Statistical Institute said.
On an annual basis, registrations
rose by 34 percent from December 2019, the institute said in a monthly report
on Tuesday.
Turkish demand for goods including
cars has shown signs of slowing after the central bank hiked interest rates in
the last four months of the year. The higher rates mean banks are now charging
consumers more for car loans denominated in liras – annual interest rates now
average 20.4 percent compared with 15.6 percent at the end of August, according
to central bank data.
The number of motor vehicles
registered in Turkey increased by 55 percent to 1.04 million in 2020.
