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Premium and luxury cars returned to retail value growth in 2020 following two years of negative growth at the end of the review period. This comes despite the almost overwhelmingly negative impact on the sale of luxury goods from the near-global COVID-19 lockdown.
From August 2020, the Turkish government increased the amount of tax payable on imported vehicles as part of its wider “special consumption tax” on certain consumer goods. This special consumption tax has existed since 2002.
Mercedes-Benz Turk was among the car producers that temporarily suspended production in April 2020 due to supply chain disruption as the full impact of the COVID-19 pandemic spread across different countries. Additionally, car dealerships faced inventory shortages, which had the potential to further impact sales as demand began to recover.
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Discover the latest market trends and uncover sources of future market growth for the Luxury Cars industry in Turkey with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Luxury Cars industry in Turkey, our research will save you time and money while empowering you to make informed, profitable decisions.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.