In 2023, the number of passenger cars in Turkey stood at 14.748 million. This represented a 3.35% year-on-year increase compared to 2022. Over the past five years leading up to 2023, the compound annual growth rate (CAGR) averaged 3.53%. The trend from 2013 to 2023 showed a consistent increase, although growth rates have slightly decelerated in the most recent years. The forecasted data from 2024 to 2028 suggests a continued but slower growth, with a forecast 5-year CAGR of 2.32%, leading to an estimated 17.072 million passenger cars by 2028.
Future trends to watch for include the increasing adoption of electric vehicles, government incentives for greener transportation, and potential economic factors that could impact car sales. Additionally, urbanization and evolving consumer preferences will likely shape the passenger car market in Turkey. Monitoring these elements will provide deeper insights into the industry's trajectory.
