Turkish Renault expects contraction

Monday, 20 December 2004 15:56:27 (GMT+3)   |  
       

Turkish Renault expects contraction

Turkish Renault expects the automotive market to contract by around 10% in 2005, the company said. The government reduced rebates on new car sales when discarding vehicles older than 20 years, which led to decreased sales. Furthermore, taxes on commercial vehicle sales have been increased. Considering the high sales at the beginning of this year, the company expects the market to remain below this year's performance.

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