A total of 112,459 passenger cars and light commercial vehicles (LCVs) were sold in July, marking a robust 115.4 percent increase from a year ago.
The numbers pointed to the highest ever July sales.
As availability problems are largely resolved more cars entered the market, consumers are anticipating higher car prices in the coming months that’s why they increased their purchases of vehicles, people from the auto industry said, explaining the strong July sales number.
Passenger car sales grew more than 109 percent year-on-year to nearly 86,000, while the annual increase in light commercial vehicles was 138 percent, data from the Automotive Distributors’ and Mobility Association (ODMD) showed.
The expansion in the passenger car market slowed from 68.5 percent in May to 40.1 percent in June.
Data from the association showed that passenger car sales last month were 79.5 percent higher than the 10-year average.
Last month electric vehicle sales rose by a staggering 1,392 percent from July 2022 to 4,013, which accounted for 4.7 percent of all vehicle sales.
Source : hurriyetdailynews.com