Forecast: Number Of Electric Passenger Cars (Battery Only) in Turkey

The number of electric passenger cars in Turkey has seen varied growth rates since 2013. The value stood at 1200 units in 2023. From 2013 to 2023, the year-on-year growth has generally been positive, with a remarkably high growth rate in the early years and a more tempered increase in recent years. Specifically, the year-on-year variation reached its peak at 53.48% in 2013 and has since stabilized, showing a slower uptick of 5.07% in 2023. The Compounded Annual Growth Rate (CAGR) over the last five years has diminished, revealing a 4.79% average annual rise until 2023. From 2024 onward, forecasted data suggests a continued modest growth with a 3.15% 5-year CAGR and a total 5-year growth of 16.8% by 2028.

Future trends to watch for include:

• Adoption of new government policies and incentives to support electric vehicle (EV) purchases.
• Improvements in charging infrastructure across Turkey, which can influence consumer confidence in EV feasibility.
• Technological advancements leading to longer battery life and more affordable models, which could spur growth rates.
• Market responses to global trends, including increased focus on sustainability and renewable energy solutions.