ISTANBUL, July 2 (Reuters) - Sales of passenger cars and light commercial vehicles in Turkey slid 16.4% year-on-year in June to 42,688 vehicles, the Automative Distributors’ Association (ODD) said on Tuesday.
Sales dropped 44.8% in the first half of the year, the association said, despite tax cuts by the government to encourage purchases.
The tax cuts on vehicle purchases ended on June 30. Turkey’s economy tipped into recession last year after a currency crisis sent inflation and unemployment soaring.
Writing by Ezgi Erkoyun