Electric vehicle sales in Turkiye are expected to grow by an average of 60.8% annually

Electric passenger vehicle sales in Turkiye are expected to grow by an average of 60.8% annually until 2032 and the market share of these vehicles among passenger vehicles is expected to reach 30.4%.

According to the “Turkiye Electric Vehicles Profile” country report obtained by the AA correspondent from BMI, a Fitch Solutions company, with the strong growth seen in this field in Turkiye, it is predicted that the share of electric vehicles in total passenger vehicle sales will increase from 1.3% in 2022 to 4.1% this year.

It is expected that the increase in electric vehicle sales will continue in 2024, but the share of these vehicles in the total automotive market will remain limited for a while due to taxes. Despite this, it is estimated that some supportive measures can be implemented for Togg, especially as a way to encourage the adoption of electric vehicles with Turkiye’s domestic and fully electric car Togg.

While Togg’s production is expected to reach one million units by 2030, it is aimed to start exporting to European markets by 2025.

Within the scope of BMI’s upwardly revised forecasts, taking into account the increasing interest in electric vehicles in Turkiye, electric vehicle sales in Turkiye are expected to grow by an average of 60.8% annually between 2023-2032.

This growth is nearly double the annual increase of 33.2% that BMI had previously predicted.

With the anticipated 60.8% annual growth in electric vehicles, it is predicted that the total number of electric passenger vehicles in Turkiye will reach 259 thousand 500 and the market share will reach 30.4% in 2032.

On the other hand, it is expected that there will be a significant increase in the sales of commercial electric vehicles, which are currently low in number in Turkiye, within a few years, and the improvement of incentives and the expansion of the charging infrastructure will support the growth in electric vehicle sales.

It is predicted that Tesla’s start to invest in its own charging infrastructure in Turkiye will strengthen the electric vehicle sales outlook for 2032. According to the data of the Automotive Distributors and Mobility Association, electric car sales were 48 thousand 883 units in the January-October period.

The total of electric and hybrid car sales reached 127 thousand 270.

Source: AA / Prepared by Irem Yildiz

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