Forecast: New Registrations of Alternative Energy Passenger Cars in Turkey

New registrations of alternative energy passenger cars in Turkey have experienced significant fluctuations between 2013 and 2023. The highest year-on-year growth was recorded in 2017 with 84.95%, followed by a steady increase until 2022. As of 2023, registrations stood at 30.81 thousand, representing a 3.43% year-on-year increase. Over the past five years, the average annual growth rate (CAGR) was 2.94%.

Looking ahead to the forecast period (2024-2028), registrations are anticipated to grow consistently, reaching 36.06 thousand by 2028. The forecasted CAGR for the next five years is 2.53%, indicating a moderate but stable growth rate. The total growth rate over this period is projected at 13.31%.

Future trends to watch for include advancements in alternative energy technologies, policy support from the Turkish government, and shifts in consumer preferences towards sustainable mobility solutions. The market can also be influenced by global energy prices and the availability of charging infrastructure.