In order to remove the negative impact of foreign exchange rates on the automotive sector, the automotive firms should fix the currency rates by the year-end, Mustafa Idug, head of The Aegean Automotive Association
The Aegean Automotive Association urges to fix foreign currency rates by the year-end in order to ease the negative impact on the automotive sector. Mustafa Idug, Chairman of the Board of the Aegean Automotive Association (EGOD), highlighting that the increase in the foreign currencies had affected sales in the automotive sector negative, added; “Nobody stops by the automotive dealers, because of changing prices every month.” In his statement, Idug said, “The sales of automobiles and light commercial vehicles increased 47 percent in the domestic market in the first eight month this year over the same period last year. In August, this rate was 37 percent, according to the Turkish Automotive Distributors Association.”
Indicating the market increase had made the representatives of the sector pleased, but increase in the foreign currencies had begun to affect negatively the sales targets, Idug marked that in order to let sales trend sustain for the rest four months of the year the currencies should be fixed. In his statements, Idug continued to say: “In this condition, attracting opportunities should be offered to buyers. The firms should fix the rates of dollar and euro in a certain figure by the end of the year. This would increase purchasing appetite in consumers. Otherwise, nobody stops by the automotive dealers regarding changing prices every month. In this issue, the trademarks should do a special work. If fixed-currency would be implemented, our faces might smile in the last four months of the year as well. Otherwise we can fight with many troubles in the sector.”