The total market for Turkish automotive and light commercial vehicles shrank by 2.75 percent during the first quarter of 2016, leading major automotive firms to launch spring campaigns offering alternative more advantageous payment options.
These April campaigns provide various opportunities for consumers, including as many as two years "zero interest" with an extended four-year payment plan, as well as trade-in discounts of up to TL 5,000, as well as "model year" discounts which apply to "disinvesting" in 2015 model vehicles. For consumers seeking to benefit from these sales, automotive firms offer 2015 "model year" prices as well as new 2016 models.
According to campaign-related data from some domestic and foreign firms operating in the Turkish automotive market, cut-throat competition among automotive firms regarding April campaigns has drawn widespread attention in the wake of the market shrinkage during the last three months.
Citroen launched sale campaigns for its vehicles with zero interest for the month of April. The C4 Cactus, the C-Elysee and the C3 currently boast sale prices of TL 20,000 with a 20 month term agreement, while light commercial vehicles such as the Berlingo are listed at TL 25,000 with a 15 month term agreement. Citroen is offering TL 40,000 for the C4 Picasso with a 20 month term agreement.
World-known dealer Fiat, on the other hand, offers its customers a wide range of credit opportunities; such as TL 15,000 with up to 15 months with zero interest. For those looking for a cheaper down payment with a longer term agreement, Fiat offers a credit alternative with a 1.09 percent fixed-interest rate.
The new Ford Mondeo (excluding Titanium) is listed at TL 40,000 with a 20 month term agreement and 0.66 percent interest. Ford is also offering a deal of TL 20,000 per 20 month term agreement and a 1.09 percent interest rate for other automobiles (including the Tourneo Courier Journey). While Ford's commercial vehicle Transit is listed at TL 20,000 with a 20 month term agreement, Ford provides credit opportunities at zero interest for the Custom, the Courier and the Connect, each of which were listed at TL 24,000 with a 24 month agreement.
In April, Renault is offering a maximum TL 24,000 with up to 12 months no-interest for retail purchases of the Clio HB, the Clio Sport Tourer, the Captur and the Kadjar, for all models.