Tesla resists significant tax increase in Turkey as August sales set a new record
In a significant shift in the electric vehicle (EV) market, Turkey has seen Tesla emerge as its top European market, surpassing domestic rival Togg and China's BYD. This development comes amidst a period of increased Special Consumption Tax (SCT) on EVs and subsequent price hikes by leading manufacturers.
The surge in car sales in Turkey, which grew by 8.05% to 654,413 units, was particularly noticeable in the C-segment, where compact family vehicles made up 56% of the market with 366,708 units sold. The A, B, and C segments collectively accounted for nearly 82% of total sales in Turkey.
Togg, Turkey's domestic EV manufacturer, followed Tesla with 21,070 units and a 17.6% share, while BYD recorded 13,391 sales with an 11.2% share. However, the upcoming sedan model from Togg saw a decrease in demand in August.
The Turkish government's decision to increase the SCT on EVs, raising the lowest rate from 10% to 25% in June, has had a direct impact on retail prices. Electric vehicles in Turkey now see price increases between 10% and 20%, with Tesla's Model Y and BYD's Seal U experiencing increases of 20.08% and 24.84% respectively.
Leading EV makers, including Tesla and Togg, have added further price hikes on top of the tax increase. The Togg T10X saw the largest increase in price among the best-selling models at 29.31%, while BYD's Atto 3 saw a price increase of 13.57%.
Despite these challenges, Tesla achieved its highest-ever monthly sales in Turkey with 8,730 units sold in August. The rise in overall automobile and light commercial vehicle sales in Turkey for the January-August period was 7.24% year-on-year, totaling 817,345 units.
In the first half of 2022, Toyota, Renault, and Fiat were among the car manufacturers with the highest sales figures in Turkey. The most popular SUV brands included Hyundai, Toyota, and Renault, reflecting strong demand in the Sport Utility Vehicle segment. SUVs continued to lead consumer preferences in Turkey, capturing 62.8% of sales with 410,891 units.
Light commercial vehicle sales in Turkey also grew by 4.1% to 162,932 units. As the EV market in Turkey continues to evolve, it will be interesting to see how these trends develop in the coming months.
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