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Only 10 Teslas sold in May in Türkiye, but why?

Only 10 Teslas sold in May in Türkiye, but why?
By Newsroom
Jun 5, 2024 3:36 PM

Sales of Tesla in Türkiye have gone from almost dominating the market after its entry a year ago to a near standstill in May 2023. According to data from the Automotive Distributors and Mobility Association (ODMD), Elon Musk’s electric vehicle maker sold only 10 Tesla cars in May. The association noted that while they gather data from other automakers directly, Tesla’s figures are estimated based on public statements.

Turkish EV Market sees surge, but Tesla struggles to keep pace

Tesla sales entered the ODMD’s dataset in May 2023 with 200 units sold, marking the company’s official entry into the Turkish market. Sales initially accelerated, reaching a peak of 4,700 units in September 2023. However, a notable decline began thereafter. Sales dropped to triple-digit figures in October and showed a brief uptick in November. But the decline resumed, with sales falling to double-digit figures for the first time this February.

Rapid growth in Turkish EV market poses challenge for Tesla

This downturn came despite a booming EV market in Türkiye. Electric vehicle sales in Turkiye increased ninefold last year, making the market bigger than those of Italy and Spain. Overall EV sales hit a record of 65,562 units in 2023, constituting 6.8% of the total auto market. Sales in the first five months of this year leaped to over 27,600 units, according to the ODMD.

Competition intensifies as domestic, foreign EV makers enter Türkiye

The competition has been reaching a fever pitch, driven by Türkiye’s first homegrown EV maker, Togg, and the entry of several Chinese carmakers, including BYD. Since its launch, Togg’s T10X SUV has accounted for nearly a third of electric car sales in Turkiye, with 19,583 vehicles sold in 2023. From January through May this year, it sold about 11,288 units, accounting for more than 40% of the market. In comparison, Tesla’s sales totaled just 412, with its share plunging to 3.65%.

Tesla introduces Türkiye-Specific model Y variant to boost sales

Tesla unveiled a Türkiye-specific Model Y variant this April to ramp up sales. The model, equipped with a single motor and a power output not exceeding 160 kilowatts, falls into the 10% special consumption tax (OTV) bracket, making it Tesla’s most affordable option in Türkiye.

Last Updated:  Jun 5, 2024 11:19 PM