Despite record automotive sales and price cuts, fuel sales continue to decline
While automotive sales continue their record-breaking streak, a decline in retail automotive fuel sales on both an annual and monthly basis was observed in October, a month that saw discounts in fuel prices.
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In October, automotive fuel sales showed a discrepancy with other industry indicators.
According to data from the Turkish Statistical Institute (TÜİK), while retail sales increased by 13.7 percent annually in October, automotive fuel sales declined by 3.3 percent during the same period.
A similar picture was seen on a monthly basis. Accordingly, while retail sales saw a 2 percent increase in October following two months of decline, automotive fuel sales fell by 0.3 percent month-on-month.
While a decline was observed in automotive fuel, there was a vibrant demand outlook in the automotive market.
According to data from the Automotive Distributors and Mobility Association (ODMD), the automotive market broke a new record in October, surpassing the 100,000 threshold. Sales in October had increased by 55.4 percent compared to the previous year.
In October, when automotive fuel sales declined, a decrease was also observed in fuel prices. The price of gasoline, which was 36.74 TL at the beginning of October, fell to 33.56 TL by the middle of the month and closed the month slightly above 35 TL.