Togg ignites growth: Türkiye's escalating sales and market share
Sales of electric vehicles (EVs) in Türkiye are expected to register an annual average growth of nearly 61% in the coming years
Sales of electric vehicles (EVs) in Türkiye are expected to register an annual average growth of about 60,8% in the coming years. Experts forecast that these battery-powered cars will constitute over 30,4% of the passenger vehicle market, marking a considerable surge.
The current year has witnessed a remarkable surge in EV sales, escalating nine times in the first ten months compared to the previous year. This boost is attributed to the emergence of Turkiye's first domestically produced electric car brand, Togg, and the entry of various global automakers like Tesla into the market.
Data from the "Turkey Electric Vehicles Profile" country report, compiled by research firm BMI, a unit of Fitch Solutions, predicts an average annual sales growth of 60.8% until 2032. This growth trajectory is expected to elevate EVs' share in total passenger car sales to 30.4%.
It would mark a twofold increase compared to BIM’s earlier forecast of 33.2% growth. The share of EVs in total car sales is expected to reach 4.1% this year, up from just 1.3% in 2022.
As per the Automotive Distributors and Mobility Association (ODMD), approximately 48,883 EVs were sold from January to October this year. The combined sales of electric and hybrid cars summed up to 127,270 units.
The BIM report foresees a surge in the total number of electric passenger vehicles in Turkiye to reach 259,500 by 2032.
Sales in October alone jumped tenfold to 9,832, lifting the EV share in the overall market to 11.9%.
TOGG SURPASSES TESLA
Togg, the manufacturer of Türkiye’s first electric car, outpaced Tesla as it delivered some 3,567 units of its C-segment SUV T10X in October. This figure brought its deliveries since late April to 9,171 units.
Tesla sold 500 units of its Model Y last month. The carmaker has delivered some 10,700 units so far this year.
By 2030, Togg aims to achieve a production milestone of one million units, with intentions to enter European markets for exports by 2025.
Expanding beyond the SUV, Togg plans to introduce four additional models— a sedan, C-hatchback, B-SUV, and B-MPV— by 2030, following the SUV's mass production.
The current production capacity of approximately 100,000 vehicles annually is slated to increase to 175,000 once Togg's factory in the northwestern Bursa province reaches full capacity.
The initiation of Tesla's investment in charging infrastructure in Türkiye is predicted to strengthen the outlook for electric vehicle sales by 2032. The commencement of Tesla's investment in charging infrastructure in Turkey is forecasted to bolster the prospects for electric vehicle sales by 2032.
Source: Anadolu Agency
