Base squeezed, market contracted: Automobile and light commercial vehicle sales fell by 17.3% in August

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exceeding 80 thousand units in June car and light commercial vehicles Sales fell in August after July. According to the data announced by the Automotive Distributors Association (ODD), in August 2022, the automobile and light commercial vehicle market decreased by 17.3% compared to the same period of the previous year and reached 48 thousand 336 units. In this period, automobile sales decreased by 21.3 percent to 35 thousand 230 units, while light commercial vehicle sales decreased by 4.3 percent to 13 thousand 106 units. When the averages of the last 10 years are taken into account, the decrease in the sales of automobiles and light commercial vehicles reached 18.2 percent.

7 MONTHS NUMBERS

In the 7-month period covering January-August 2022, the market contracted by 8.5 percent and amounted to 458 thousand 446 units. In this period, the automobile market narrowed by 9.4 percent to 354 thousand 543 units, while the light commercial vehicle market contracted by 5.2 percent to 103 thousand 903 units. In the same period, 88.3 percent of automobile sales were made up of A, B and C segment vehicles with lower tax rates. While C segment cars took a 49.7 percent share of the market with 176 thousand 358 units, the share of B segment (small class) cars was recorded as 38 percent.

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SLOW SIGNAL ON DEMAND

The global chip crisis in the automotive industry and supply Stating that the continuation of the problems in sales continues to affect the sales, experts said that the fact that the SCT bases have not been updated for a long time and the problems in finding credit were also effective in the decline in August. In his assessment to Hürriyet, ODD Secretary General Hayri Erce said, “Since June, we have been receiving signals that there is a slowdown in demand as well as supply problems. Vehicle availability is slightly better than in previous months, but price increases continue due to both cost and currency. Difficulties in accessing vehicle loans are also triggering the decline in the market.”

UPDATE CONDITION

Emphasizing that the SCT tax brackets, which were recently updated in August 2021, continue to put serious pressure on consumers with increasing prices, ODD Secretary General Erce said, “SCT bases should be updated as soon as possible in order not to cause a serious disruption in consumer demand and for the sustainability of the market. Having more vehicle models in the tax bases such as 60 and 70 percent will at least relieve the citizens’ transportation to the automobile for a while,” he said.

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8 OF 10 VEHICLES SOLD AT 80 PERCENT SCT

ODD also included automobile sales according to SCT segments in its August data. Accordingly, by August, 82.7 percent of the sales were in the gasoline/diesel engine type and 80 percent in the tax bracket, according to the special consumption tax brackets and engine types in the automobile market. The rate of cars in the gasoline/diesel engine type and in the 70 percent tax bracket was only 2.8 percent.

SUVS TAKE 40 PERCENT SHARE OF THE MARKET

Considering the body types in the January-August period, the most preferred body type was SUV cars with 142 thousand 559 units. Sedan automobiles followed this body type with 36.9 percent share and 130 thousand 856 sales, and HB automobiles with 20.8 percent share and 73 thousand 840 sales. Looking at fuel types, gasoline cars took the top spot with 250,401 sales and 70 percent share. In this period, diesel cars took a 17 percent share of the market with 60,316 units, while the share of hybrids was 9.7 percent with 34,265 units. The number of electric vehicles sold in the January-August period reached 3 thousand 283.

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