Retail sales of premium and luxury cars look set to rise at a current value CAGR of 38% (18% 2022 constant value CAGR) over 2023-2028, to total TRY691.7 billion.
Increasing online sales are expected within premium and luxury cars in Turkey over the forecast period. More shoppers are already buying essential items online, but they are also increasingly purchasing big ticket items like cars online, with this trend set to continue.
Electric cars are likely to grow in significance within premium and luxury cars over 2023-2028, due to rising concerns about sustainability, and a need to promote cars with zero emissions. In 2022, the Turkish Ministry of Industry and Technology announced a new regulation that will provide support of up to 75% of the investment for the development of charging stations.
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Understand the latest market trends and future growth opportunities for the Luxury Cars industry in Turkey with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Passenger car vehicles providing exceptional comfort, aimed at the premium market and at drivers wanting a higher level of performance and handling or a vehicle that gives the impression of being capable of high-speed motoring. These cars are generally designed to appeal to high earning, status led consumers and generally retail at US$75,000 plus Example models include: Aston Martin, Ferrari, Jaguar, Bentley, Porsche, McLaren, Maserati, Rolls-Royce and Tesla
See All of Our DefinitionsThis report originates from Passport, our Luxury Cars research and analysis database.
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