Tesla, which made a grand entry into the Turkish market last year, delivered its first vehicle to a customer in May and reached an impressive monthly sales figure of 4700 units in September. Throughout 2023, Tesla achieved a total of 12150 sales, setting a global record. However, 2024 has not been as favorable for Tesla.
A Challenging Year for Tesla in 2024
Interest in Tesla waned as TOGG ramped up its production and Chinese competitors became more prominent in the market. By the end of 2023, monthly sales had fallen below 500 units, and in May 2024, sales plummeted to just 10 units. According to the Automotive Distributors and Mobility Association (ODMD), only 412 Teslas were sold in 2024. In contrast, TOGG sold 4140 units in May alone, demonstrating significant success.
Decline in Global Market Performance
This downward trend in Turkey is also reflected in Tesla’s global performance. Despite price cuts, Tesla failed to meet sales expectations, leading to layoffs within the company. Numerous analysts have started questioning Elon Musk’s leadership and the company’s overall strategy.
Concerns for the Future
The significant drop in Tesla’s sales in Turkey also negatively impacts the brand’s competitiveness on a global scale. The rise of local producer TOGG and the aggressive marketing strategies of Chinese car manufacturers are narrowing Tesla’s market share in Turkey. How Tesla will navigate this situation and what strategies it will adopt in the future remains a topic of interest.