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Türkiye's passenger car sales fell 25.2% year over year in August to 61,529 units as weak demand stretched into the month amid tight monetary conditions, according to Automotive Distributors and Mobility Association (ODMD) data.
Light commercial vehicle sales, in contrast, rose 0.3% to 19,502 units, while the broader passenger car and light commercial vehicle market declined 20.3% to 81,031 vehicles.
For the January-August period, passenger car sales fell 13.8% year over year to 564,241 units, while light commercial vehicle sales declined 4.4% to 155,755 units. Combined sales dropped 11.9% to 719,996 vehicles.
Powertrain data for the January-August period showed that while overall passenger car sales weakened, demand was more resilient for hybrid models, particularly mild hybrids, whereas gasoline, diesel, plug-in hybrid and electric vehicles all recorded declines to varying degrees.
Gasoline-powered passenger car sales fell 22.4% year over year to 230,341 units, while diesel sales dropped 35.6% to 33,354. Hybrid passenger car sales, in contrast, increased 3.7% to 187,045 units, with mild hybrids driving much of the growth as their sales climbed 38.0% to 145,005.
The decline was particularly pronounced among plug-in hybrids, whose sales plunged 89.5% to 3,353 units, while electric car sales fell 12.3% to 105,951. LPG-powered passenger car sales moved in the opposite direction, jumping 74.8% to 7,550 units during the period.
Light commercial vehicles showed a somewhat different powertrain breakdown, with diesel remaining by far the dominant option despite a 5.3% decline in sales to 143,011 units, while gasoline sales fell 7.5% to 9,444.
Hybrid sales increased 25.2% to 819 units, and electric light commercial vehicle sales more than doubled, rising 134.5% to 2,481 units, while plug-in hybrid sales dropped 85% to just 6 units.
The August decline followed another sharp drop in July, when the passenger car and light commercial vehicle market shrank 25% year over year to 80,786 units. Passenger car sales fell 25.8% to 62,478 units, while light commercial vehicle sales declined 22.2% to 18,308.
However, the pace of contraction eased slightly in August compared with the previous month, while local brokerage PhilipCapital projected that potential interest rate cuts and pent-up demand could support a moderate recovery toward the end of the year.
The Central Bank of the Republic of Türkiye (CBRT) resumed one-week repo auctions in late August, effectively normalizing funding conditions toward its 37% policy rate instead of the more costly 40% overnight rate.
The bank is due to convene its Monetary Policy Committee (MPC) meeting on Sept. 10, with market expectations centered on another decision to leave rates unchanged.
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