ISTANBUL: The lira crash came and went more than a year ago but the distortions it left behind are making for a surprising hedge against inflation and falling interest rates in Turkey.
Millions of Turks have been snapping up used cars, sending their prices surging at a time when inflation and currency depreciation were eating away at savings. Over the past two years, the average price of gasoline-powered cars more than doubled and went up a whopping 120% for diesel vehicles, which are more popular in Turkey.
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