Equity Analysis /Turkey
Turkish Autos: After a weak October, we revise down our 2021 and 2022 estimates
We are revising down our 2021 and 2022 estimates by 3% and 8%, respectively.
Light Vehicle sales fell by 40% y/y to 56.8K. Assuming the trend continues in 2021, we calculate 830.0K LV sales volume
Within our auto coverage, we continue to favour Tofas