ISTANBUL -- Turkey's soaring prices are putting the brakes on domestic car sales. Unit sales of new autos fell in 2021 versus the previous year, while output declined for the fourth year in a row.
Prices for imported vehicles, which make up most of the market, more than doubled because of a combination of a lira in free fall, coupled with one of the world's highest automobile taxes. Domestically manufactured vehicles also became more expensive due to higher prices for imported parts and semiconductor shortages.
