BGC Partners - BGC Partners: SEP-19 Auto Sales - Better: Turkey light vehicle (LV) sales surged by 82% y/y in Sep-19, bringing the contraction in 9M19 to -39%

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BGC Partners

Berna Kurbay

EUR 103.27 For Business Accounts Only

BGC Partners: SEP-19 Auto Sales - Better: Turkey light vehicle (LV) sales surged by 82% y/y in Sep-19, bringing the contraction in 9M19 to -39%

Turkey light vehicle (LV) sales surged by 82% y/y in Sep-19, bringing the contraction in 9M19 to -39%, better than expectedâ€¦ 41,992 light vehicles were sold in Sep-19, bringing the YTD sales to 281,309 units (-39% y/y). LV sales contracted by 22% y/y in 3Q19 to 86,165 units.

02/10/2019 5 EN

Provider

BGC Partners

BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.

We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:

Mergers & Acquisitions
Equity Capital Markets
Debt Finance & Advisory

See profile

Analysts

Berna Kurbay

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OUR TAKE: We observe no major change in inflation expectations, as the positive surprise in February reading seems to be offset by increased depreciation pressure on TL, while 2020 GDP growth forecast has been cut for the first time since July 2019. Meanwhile, there seems to be a 50bps rate cut expectation from the CBT in next weekâ€™s meeting, 100bps over the next three months, and 175bps over the next twelve months. We currently plug in a 50bps rate cut in our forecasts in next weekâ€™s meeting, followed by a 25bps in the April meeting. (CBT, BGC Partners)

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BGC Partners: TURKEY - Retail sales volume maintained a strong trend in January

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BGC Partners: SEP-19 Auto Sales - Better: Turkey light vehicle (LV) sales surged by 82% y/y in Sep-19, bringing the contraction in 9M19 to -39%

BGC Partners: TURKEY - Central Government Budget continued to improve in February

BGC Partners: TURKEY - CBT Expectation Survey: No major change in inflation forecasts and a 50bps rate cut expectation from the CBT next week...

BGC Partners: TURKEY - Retail sales volume maintained a strong trend in January

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