Türkiye’s electric vehicle sales surge as Europe’s incentives wane
BYD electric cars waiting to be loaded on a ship are stacked at the international container terminal of Taicang Port at Suzhou Port, in China’s eastern Jiangsu Province, Sept.11, 2023. (AFP File Photo)
Electric vehicle sales are booming in Türkiye, even as major European markets like Germany experience declines due to reduced incentives. Türkiye’s sales of electric cars increased by 158 % and ranked ninth in Europe with 41,371 units, and increased its sales of hybrid cars by 47 % and ranked seventh in Europe. Here’s a breakdown of how Türkiye is leading in the electric vehicle market.
Decline in European electric vehicle sales
Several European countries have cut back on incentives for electric vehicles, leading to a decline in sales:
- Germany’s electric vehicle sales dropped by 20% in the first seven months of 2024.
- Sweden saw a 19% decline.
- Norway reported a 5% decrease.
Türkiye’s remarkable growth
While sales fell across Europe, Türkiye saw a significant increase:
- Electric car sales rose by 158%, reaching 41,371 units, ranking Türkiye ninth in Europe.
- Hybrid car sales grew by 47.3%, totaling 77,641 units, placing Türkiye seventh in Europe.
Reasons for Türkiye’s success
Türkiye’s success in the electric vehicle market is primarily driven by favorable tax policies:
- A lower special consumption tax (OTV) is applied to electric vehicles with power outputs up to 160 kW.
- This tax advantage makes electric vehicles significantly more affordable compared to standard gasoline cars, which are taxed at an 80% OTV.
Europe’s top electric vehicle markets
Despite a decline, Germany remains the largest market for electric vehicles with 214,000 units sold, followed by the U.K. (194,000 units) and France (175,000 units). Türkiye, with 41,371 units sold, ranks ninth among European countries.
Meanwhile, hybrid vehicle sales have increased across Europe, with Türkiye standing out as the fastest-growing market among the top ten. Türkiye’s hybrid sales rose by 47.3%, highlighting its growing appeal in both electric and hybrid segments.
Top-selling electric vehicles in Türkiye
- The Togg T10X was the best-selling electric vehicle in Türkiye, with 14,248 units sold.
- Tesla Model Y, SsangYong Torres EVX, BMW 5 Series, and BMW X1 were also among the top sellers.
