The forecasted data for passenger car registrations in Turkey indicates a consistent growth from 2024 to 2028, starting at 49.56 thousand units in 2024 and reaching 51.74 thousand units in 2028. The year-on-year growth percentage shows a steady increase of around 1.15% to 1.20% annually over this period. In 2023, the actual value stood at approximately 49.00 thousand units, indicating that the market is expected to continue its upward trend.
CAGR for the five-year period from 2023 to 2028 is calculated to be around 1.15%, reflecting moderate but stable growth.
Future trends to watch for include potential impacts of economic fluctuations, regulatory changes in the automotive sector, advancements in technology, particularly electric vehicles, and evolving consumer preferences. Monitoring these trends will be critical to understanding and forecasting future changes in car registrations in Turkey.
