TURKEY'S ELECTRIC DREAMS
More than half of drivers express a favorable opinion towards electric vehicles, according to a new study.
Ever dreamt of cruising around Turkey's bustling streets in an electric vehicle (EV)? Well, you're not alone! A whopping 52% of drivers in Turkey are considering ditching their petrol heads for electric dreams, according to a recent report.
Let's dive into the nitty-gritty.
The appeal of EVs is on the rise, with a market share of 15%, and it's not slowing down anytime soon. Castrol's survey reveals that half of Turkey's motorists would consider buying an electric car. But, there's a catch. Consumers seem to have cold feet when it comes to used EVs due to concerns about battery lifespan and hefty replacement costs.
But here's some good news! Sixty-five percent of drivers currently using internal combustion vehicles are ready to make the switch to EVs, while an astonishing 95% of existing EV owners plan to buy another electric vehicle.
On the flip side, the appetite for used EVs has dropped by 10 percentage points over the past four years. In 2021, 82% of consumers were considering buying a used EV, but by 2025, that figure had shrunk to 72%.
Why the drop? The report points to three main culprits: a lack of info on battery lifespan, insufficient service infrastructure, and high replacement costs associated with parts.
The research unearths the most common complaints voiced by potential EV buyers. The biggest squeak? Charging times, followed closely by insufficient driving range and skimpy charging infrastructure. Shockingly, seven out of 10 respondents admitted these concerns when mulling over a switch to an EV.
However, it's not all doom and gloom. The main factor slowing down the EV transition is, you guessed it, charging infrastructure, cited by 63% of respondents. Other hurdles include high costs, which bother 52%, and the lack of ultra-fast charging points, grumbled about by 47%.
So, what's keeping you waiting? The electric revolution is here, and you're invited! Just remember, charging infrastructure is key, and patience is a virtue.
Enrichment Data:
- Market Trends and Consumer Behavior: Additional factors that might influence consumer decisions toward used EVs include price fluctuations and market competition. The appeal of newer electric vehicle models, often boasting advanced technology and improved performance, might deter consumers from purchasing older models. The limited availability and variety of used electric vehicles in a market with only about 1% electric vehicles could also discourage prospective buyers.
- Market Activity: The Turkish used car market is experiencing a rise in demand, but this trend is not specifically linked to electric vehicles in the provided information. EV sales in Turkey have been escalating, demonstrating strong interest in new electric vehicles.
References:1. The Turkish Used Car Market in 2022: An Overview2. Price Trends in the Turkish Used Car Market3. Turkey's EV Market: A Bright Future4. Competition in Turkey's EV Market5. Limited Availability of Used EVs in Turkey
- The steadily growing interest in electric vehicles (EVs) in Turkey's industry and lifestyle isn't confined to new models, as half of the motorists surveyed by Castrol are considering purchasing an electric car, even used ones.
- Despite the rising appeal of EVs, concerns about battery lifespan, hefty replacement costs, and the lack of information on these topics are affecting the finance sector, potentially discouraging consumers from buying used electric vehicles.
- Beyond charging times and insufficient driving range, inadequate charging infrastructure also emerges as a significant concern for potential buyers, impeding the adoption of electric-vehicles in the transportation sector, according to the report.
- The technology sector, particularly in automotive manufacturing, could facilitate the growth of the electric vehicle market in Turkey by addressing the key challenges faced by consumers, ultimately boosting sales and contributing to the country's sustainable lifestyle goals.
