The rise in Turkish passenger car sales realized 4.7 percent in June compared to the same term in 2007, the slowest rate of increase since September as borrowing costs surge.
According to an e-mailed statement from the Turkish Auto Distributor's Association, passenger car sales increased to 28,724 units while sales of vans and other light commercial vehicles fell 5.1 percent to 17,600 units.
The increase was the smallest since September and came after the central bank, citing inflationary pressures, added a total one percent to its benchmark lending rate with two half percentage increases in May and June, bringing it to 16.25 percent, steeper than any rate in Europe.